El Car Wash announces acquisition by Warburg Pincus

El Car Wash announces acquisition by Warburg Pincus

MIAMI — The growing chain’s latest investment will support continued expansion plans.

MIAMI — El Car Wash recently announced in a press release that Warburg Pincus has acquired the company from affiliates of Wafra Inc., Audrose Partners and Fireside Investments.

The investment will support El’s continued expansion and its commitment to offering best-in-class services to its customers.

Terms of the transaction were not disclosed.

El Car Wash is a carwash operator in South Florida across Miami-Dade, Broward and Palm Beach counties.

The company currently operates 17 carwash locations with over 30 additional sites in development across Florida and plans to significantly expand its footprint through greenfield openings and future acquisitions.

Today, the chain is a widely recognized brand known for its prime locations, high quality operations, distinctive aesthetics and industry leading membership program, the press release stated.

 El Car Wash is also the official carwash of the Miami Heat and a partner of Baptist Health.

“We have built El Car Wash into a market-leading platform by relentlessly focusing on delivering friendly customer service and a best-in-class wash experience via a dense network of clean and recognizable modern facilities. This strategy has generated a loyal, growing membership base that we hope to service more conveniently by rapidly expanding El’s store footprint in partnership with Warburg Pincus,” said Geoff Karas, co-CEO of El Car Wash and co-founder of Audrose Partners.

“El has experienced rapid growth over the past several years, and partnering with Warburg Pincus, who has a long-standing track record of cultivating world-class businesses, will allow us to accelerate our expansion efforts and help further define the industry perception of carwashes as the innovative and prime retail experience that we deliver,” added Justin Landau, co-CEO of El Car Wash and co-founder of Audrose Partners.

“We are thrilled to partner with Justin, Geoff and the El team. They have built a company that is truly unique in its space. El has established itself as a pre-eminent carwash platform with highly skilled operators, state-of-the-art facilities and dedicated focus on customer service, all of which is highlighted by the strength of its membership program,” said Jeff Goldfaden, managing director, Warburg Pincus.

“We believe El has a unique offering and significant growth potential. El has an outstanding record of new store openings and successful acquisitions, and we are tremendously excited to support the team in their continued expansion, both in South Florida and in other attractive markets,” added Zach Lazar, managing director, Warburg Pincus.

Adel Alderbas, chief investment officer at Wafra, added, “We have enjoyed a fantastic partnership with Justin, Geoff and Fireside building El Car Wash from just four locations in 2019 to nearly 50 locations operating and under development as of today. Through our collective commitment to high quality real estate and best-in-class customer service, El has become one of the premier express carwash platforms in the country. We wish Warburg Pincus and the El Car Wash team great success as they continue to develop the El platform.”

Jonathan Langer, founder and CEO of Fireside Investment added, “We are proud of the world class platform we have been able to create with Justin, Geoff and Wafra and wish the entire El Car Wash team all the best going forward.”

William Blair & Company, LLC served as exclusive financial advisor to El Car Wash in connection with the transaction.

You May Also Like

Express Wash Concepts appoints chief development officer

COLUMBUS, Ohio — Van Bremen brings more than 20 years of experience leading high-performance teams and developing data-driven strategies across multiple industries.

COLUMBUS, Ohio — Express Wash Concepts (EWC) announced in a press release the appointment of Craig Van Bremen as the company’s chief development officer (CDO).

For the past five years, Van Bremen served as vice president of development and acquisitions for Green Clean Express Auto Wash, the company’s Virginia and North Carolina-based express tunnel carwash brand.

WhiteWater Express acquires Bubble King Car Wash

HOUSTON — Bubble King will be rebranded under the WhiteWater Express banner and offer WhiteWater’s signature services.

Access Holdings’ Spotless Brands announces $600 million growth capital raise

BALTIMORE — The strategic growth capital investment will support the execution of Spotless Brands’ expansion strategy.

Kleen-Rite acquires vending machine manufacturer Laurel Metal Products

COLUMBIA, Pa. — The move will streamline the process of building and stocking Laurel products.

M&A, mergers, acquisitions
Turbo Tint’s Greg Goodman named IFA Franchisee of the Year

ORLAND PARK, Ill. — Goodman has been a franchise owner in the Moran Family of Brands system for more than 25 years.

Other Posts

Matthews closes four-property express carwash portfolio in Iowa

NASHVILLE, Tenn. — The Shine Shop Car Wash Portfolio was acquired by Rocket Car Wash, a national chain looking to expand.

Magnolia Wash Holdings opens new Whistle Express Car Wash

CANTON, Ga. — The express carwash operator adds to its portfolio of washes in Georgia, bringing its total to 12 locations.

PayRange launches #IHEARTPAYRANGE contest

PORTLAND, Ore. — One grand-prize winner will receive free purchases for a year; nine additional winners will receive free purchases for a month.

Flying Ace’s 14th grand opening raises record amount for food pantry

MASON, Ohio — During the grand opening, Flying Ace offered a free signature carwash to every customer in exchange for a monetary donation to Mason Food Pantry.