Amplify Car Wash Advisors close on a record 30 carwashes in December

Amplify Car Wash Advisors close on a record 30 carwashes in December

SCOTTSDALE, Ariz. — Most recently, Amplify represented Rapid Express Car Wash in its new partnership with Wildcat Capital Management.

SCOTTSDALE, Ariz. — Amplify Car Wash Advisors, a national mergers and acquisitions and capital advisory firm founded by Bill Martin and Jeff Pavone, closed on 30 carwash locations in December 2021, according to a press release.

“We ended 2021 with the largest number of locations sold in one month and saw record-breaking multiples paid on carwash chains,” said Pavone, partner at Amplify Car Wash Advisors. “In 2022 we hit the ground running and already have more than 100 carwash locations out to market.”

Pavone adds, “We foresee the carwash industry continuing on this path of hyper-growth and consolidation, producing favorable conditions for carwash owners considering selling their businesses or taking on a partner to accelerate growth.” 

Among the transactions, Amplify Car Wash Advisors announced the successful partnership of Rapid Express Car Wash, an express exterior carwash chain with locations in central and south Texas, and Wildcat Capital Management.

Amplify Car Wash Advisors represented Rapid Express in the transaction.  

“We are excited to partner with Wildcat to really scale the Rapid Express brand,” said Ahmed Jafferally, chief executive officer of Rapid Express Car Wash. “While we have 17 locations operating and 25 sites currently in development, we needed a financial partner to fuel our growth at a faster pace, enabling us to serve more communities. The team at Amplify helped identify the right fit for us and negotiated a deal that was a win-win for both parties.”  

Also in December 2021, growing national chain LUV Car Wash acquired five California Speedwash sites.

Amplify Car Wash Advisors represented the seller in the transaction. 

“Deciding to sell my business after 40 years was not one I made lightly,” said Lenny Elbaum, founder of California Speedwash. “Having Bill [Martin], Jeff [Pavone] and the Amplify team by my side to guide me through the process was key. I am confident I made the right decision at the right time.” 

Additionally, Amplify Car Wash Advisors completed the successful sale of Jon’s Auto Wash with four locations in Michigan to WhiteWater Express Car Wash in late December 2021. Amplify Car Wash Advisors represented the seller. 

“My life changed forever on Dec. 22, 2021,” said John Harkins, founder of Jon’s Auto Wash. “That day I received an email titled ‘CLOSED & FUNDED / Jon’s Auto Wash.’ After nearly 35 years in business that was the best and most life altering subject line I ever read! I couldn’t be more pleased working with the Amplify team, and I am confident I received the number I did due to their efforts.” 

“Working with the team at Amplify Car Wash Advisors was an easy and smooth process,” said Henry Shine, chief financial officer at WhiteWater Express Car Wash. “With the addition of Jon’s Auto Wash, WhiteWater now has eight locations in the state of Michigan and will continue to grow in 2022.”    

On Dec. 28, 2021, All American Car Wash and Lube, founded by Larry Ayres, was acquired by Racer Classic Investments, LLC (“RCI”) based in Lubbock, Texas.

All American currently operates four carwash locations and two lube centers in Wichita Falls, Texas, and Lawton, Oklahoma.

Amplify Car Wash Advisors represented the seller in the transaction. 

“After building Racer Car Wash to 10 locations in west Texas, we knew All American Car Wash would be a perfect fit to expand into north Texas and south Oklahoma,” said Andrew Zamora, chief operating officer of RCI and founder of Racer Car Wash. “Larry has built a great brand over the last 25 years, and we are pleased to have him join RCI with an equity stake and be part of our continued growth.” 

RCI is expanding under the All American Car Wash brand with four greenfield sites slated to break ground in early 2022 in Wichita Falls, Texas, and Lawton, Oklahoma.

RCI currently has one location open in San Antonio with three locations set to open by spring 2022, and six additional sites under construction in San Antonio, Boerne, Texas, and Big Spring, Texas.  

You May Also Like

Turbo Tint opens second location in Oklahoma City

ORLAND PARK, Ill. — The newest store in Oklahoma City is the seventh Turbo Tint location in the country.

Turbo Tint in OK City

Greg Goodman and his son, Chandler, are owners of the Turbo Tint store Oklahoma City.

ORLAND PARK, Ill. — Moran Family of Brands announced in a press release its newest franchise location with the addition of the second Turbo Tint store in Oklahoma City.

The new Turbo Tint Oklahoma City North store officially opened on Sept. 5 and is located at 2816 NW 164th St.

Clean Express honored with 2023 People Helping People award

PITTSBURGH — Through various fundraising initiatives under the Clean Cares banner, Clean Express has contributed over $6,000 to North Hills Community Outreach.

Global Car Wash and Detailing Market Report 2023 released

DUBLIN — Pandemic-driven hygiene awareness to boost market to $54.98 billion by 2029.

ZIPS’s NIL program now includes the Memphis Tigers

MEMPHIS, Tenn. — ZIPS’s Car Wash Convos Season 2 will feature four student-athletes from the University of Memphis in upcoming episodes.

NRCC early bird registration ends soon!

ATLANTIC CITY, N.J. — Early bird pricing for the 2023 NRCC is available until Sept. 15, 2023.

Other Posts

Where is private equity heading? 

The seller’s market has cooled, but has PE interest?

Moo Moo Express Car Wash donates over $14,000 to Healthy New Albany Food Pantry

COLUMBUS, Ohio — Offers included $50 gift cards, for only $25, with the full purchase price donated back to the organization.

ZIPS Car Wash is a Proud Sponsor of Texas Athletics

AUSTIN, Texas — ZIPS, along with LEARFIELD Studios, will kick off Season 2 of its “Car Wash Convos” by featuring four Longhorns student-athletes.

CYBER Express Wash closes on new supercenter in Alaska

ANCHORAGE, Alaska — Customers can vacuum their vehicles, wash their mats and more from the comfort of the fully indoor heated facilities.