Henley Investments enters carwash business with initial acquisition of five-asset portfolio - Professional Carwashing & Detailing

Henley Investments enters carwash business with initial acquisition of five-asset portfolio

BOSTON — The firm purchased a five-location carwash chain in Greensboro, North Carolina.

BOSTON — Henley Investments, a private equity real estate firm based in the U.K. and the U.S., has announced the acquisition of five Water Works carwash locations in greater Greensboro, North Carolina, with the intention to modernize the equipment at each facility to dramatically increase daily vehicle washing capacity, according to a press release.

The in-bay carwash facilities will be converted to full tunnel and mini tunnel express wash configurations, increasing capacity at each from 10 vehicles per hour to up to 130 per hour, the release continued.

“This is a new brand of acquisition for us, but it fits very well with our overall philosophy of capturing strong opportunities when we see them,” said Henley CEO Ian Rickwood. “The carwash industry has a low-degree of revenue volatility and is relatively insulated from economic ups and downs, given that it is affordable for consumers who tend to view carwashing as a staple service.”

Henley’s renovation of the carwash locations to express configurations will greatly increase the profitability of these locations, the release noted.

“The modernization of these carwash facilities will provide a great new convenience for Greensboro-area drivers,” said Garrett Solomon, Henley’s chief investment officer for North America. “The new equipment will improve efficiency, give customers more wash service options and reduce their time spent for a carwash without dramatically changing the cost of the service.”

Henley has recently closed on the five Greensboro carwash facilities, and the equipment upgrades and renovations for all six facilities are projected to be completed by early spring of 2020, the release stated.

Henley is actively pursuing additional stand-alone and portfolio acquisition opportunities across the U.S., the release concluded. 

You May Also Like

Big Dan’s Car Wash opens first location in Southwest Georgia

ALBANY, Ga. — The site boasts a 150-foot tunnel, self-prep stations and 30 vacuums.

Big Dan’s Car Wash logo

ALBANY, Ga. — According to a report on WALB.com, Big Dan’s Car Wash opened its first location in Albany, Georgia.

The carwash, located at 375 N Slappey Blvd., offered free washes for several days during its grand opening.

This is the first location in southwest Georgia, and company officials noted that several other sites in South Georgia are in development, according to the post.

Quick Quack celebrates Victoria grand opening with 12 days of free washes

VICTORIA, Texas — The new wash is the second of at least three planned Victoria locations.

Mammoth Holdings opens Silverstar Car Wash in Coon Rapids

DALLAS — The opening marks the 26th Mammoth location under the Silverstar Car Wash brand.

25th Mammoth location under the Silverstar Car Wash brand.
MCA to host networking event

LANSING, Mich. — The event will feature Mark Fisk, a partner at Byrum & Fisk Advocacy Communications.

Mark Fisk, a partner at Byrum & Fisk Advocacy Communications
UNC’s Paulina Paris featured in ZIPS Car Wash Convos

CHAPEL HILL, N.C. — Paris joined the UNC women’s basketball team for the 2022-23 season after being ranked as the No. 27 player in the country.

Nothing but net in the latest episode of Car Wash Convos with Paulina Paris, UNC Women’s Basketball's star Guard, and her host Kaitlyn Schmidt.

Other Posts

Mammoth Holdings names Bethany Gillam chief people officer

DALLAS — Gillam will oversee talent recruitment and development, compensation and benefits, and all other aspects of human resources.

Mammoth Holdings names Bethany Gillam chief people officer
Club Car Wash celebrates opening of 150th location

COLUMBIA, Mo. — The new location in Melissa, Texas, officially opened its doors to the public on Feb. 22.

Club Car Wash celebrates opening of 150th location
Flagstop Car Wash acquires 3 new sites

RICHMOND, Va. — Flagstop has several more locations in development with plans to operate over 25 sites in the central Virginia market by 2025.

Washworld Inc. announces Canadian distributor

DE PERE, Wis. — P.D. McLaren Limited will be selling and servicing Washworld vehicle wash systems throughout British Columbia, Canada.