SCOTTSDALE, Ariz. — Amplify Car Wash Advisors, a national mergers and acquisitions and capital advisory firm, acted as the exclusive financial advisor to Tidal Wave Express Car Wash in the sale of eight Missouri-based locations, according to a press release.
The sites were sold to Club Car Wash, a Wildcat Capital Management portfolio company, along with one additional site currently in development and a robust pipeline of future sites.
Mace Nosovitch, chief executive officer of Tidal Wave Express, has partnered with Club Car Wash to lead its continued multi-site expansion efforts in the Midwest through the pipeline of sites he brings with him, several of which are opening in the next 12 months.
“This is an exciting next chapter for Tidal Wave Express,” said Nosovitch. “Partnering with Wildcat and Club Car Wash pairs our premier locations and expansive pipeline of future sites with Club’s operational excellence and creates even more career growth opportunities for our employees.”
As the exclusive financial advisor to Tidal Wave Express, Amplify advised on the sale of the existing sites as well as negotiated on behalf of its client to determine the valuation of future sites in various stages of development.
Nosovitch continues, “We appreciated working with Jeff [Pavone] and the team at Amplify Car Wash Advisors. Their team is the only one in this space that combines investment banking expertise with operational experience and a true understanding of the carwash industry. They helped us find the best financial solution that matched our vision.”
Bill Koenig, managing director at Amplify Car Wash Advisors, commented, “Mace has built a great carwash brand with Tidal Wave Express. In addition to his premier existing sites, he has a strong development pipeline which was attractive to the buyer.”
Drew Tarlow, managing director and head of private investments at Wildcat Capital Management, said, “It has been a pleasure working with the Amplify team, as always. They helped navigate a complex transaction and their deep sector knowledge proved important in getting the transaction across the finish line. We are pleased to add Tidal Wave Express Car Wash’s locations and team to our Club Car Wash platform.”