DENVER — International Car Wash Group (ICWG) has announced the acquisition of TLC Xpress Carwash, a family-owned and operated staple of the Fayetteville, North Carolina, community, according to a press release.
With the acquisition of this seven-property chain, ICWG entered the highly desirable North Carolina market for the first time, the release noted.
All TLC Xpress sites will be rebranded as Car Wash USA Express, one of the largest express carwash businesses in the South and growing rapidly, the release added.
The acquisition of TLC Xpress provides ICWG a good foothold in this mid-sized market of North Carolina’s sixth-largest city and the opportunity to build on well-established community and employee relationships, the release stated.
“North Carolina has been on the radar for quite some time. We are very excited to bring these seven carwash sites into the ICWG family,” said Jeff Maize, senior vice president, acquisitions, ICWG. “The owners — a mother and son team — have built a very strong brand, and we are proud that they have selected ICWG to keep their legacy alive.”
For Diane and Thomas Deering, the mother and son sellers, the transaction with ICWG is ideal: Diane will be retiring, Thomas will remain on board, and many of the TLC employees have also been offered the opportunity to stay on in their current positions, the release noted.
“I have known ICWG for some time and always liked the way they do business. If how they put our deal together is any indication of what lies ahead, we know our customers are in great hands. ICWG was flexible, fast and fair,” said Thomas Deering.
“We look forward to offering the Fayetteville community the best carwash service possible. Fully leveraging Thomas’s depth of experience along with the TLC employees on our team, we are confident these sites will continue to grow significantly,” added Tom Mangas, CEO, ICWG.