Express Wash Concepts secures incremental credit facility to fuel core market greenfield expansion

Express Wash Concepts secures incremental credit facility to fuel core market greenfield expansion

COLUMBUS, Ohio — This new facility empowers EWC to maintain its multi-brand expansion strategy, currently encompassing 91 operational sites with more on the way.

COLUMBUS, Ohio — Express Wash Concepts (EWC) announced in a press release that it has successfully secured a $150 million incremental credit facility led by MidCap Financial to further propel its core market greenfield development.

This new facility empowers EWC to maintain its responsible, multi-brand expansion strategy, currently encompassing 91 operational sites, 10 sites under construction and an additional 35 in various stages of development.

“Our 15-year journey has been marked by a strategic focus on operational excellence and greenfield development,” said John Roush, Express Wash Concepts chief executive officer. “Securing an upsized credit facility under these terms and scale in the current credit environment underscore the strength of our business. EWC has been shaped by our proven in-house real estate development capabilities, top-notch operations and a robust Unlimited Wash Club membership base.”

EWC presently operates in Columbus, Dayton, Cleveland and Toledo, Ohio; Pittsburgh, Pennsylvania; Hampton Roads and Richmond, Virginia; and Detroit, Michigan.

“Our growth hinges on two core competencies: operational excellence and greenfield development. We intend to leverage these strengths to strengthen our market presence, better serve our customers, and expand our Unlimited Wash Club membership in our core markets,” said Craig Van Bremen, Express Wash Concepts chief development officer. “In a rapidly evolving competitive landscape, we are confident that substantial investments in our core markets through greenfield development and strategic acquisitions will continue to yield significant dividends.”

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