Magnolia Wash Holdings acquires Surf’s Up

Magnolia Wash Holdings acquires Surf’s Up

CHARLOTTE, N.C. — The acquisition covers all five locations in Tennessee.

CHARLOTTE, N.C. — Express Wash Operations LLC, dba Magnolia Wash Holdings, successfully completed the acquisition of all five Surf’s Up locations on Oct. 6, 2021, all of which are in and around the Chattanooga, Tennessee, area, according to a press release.

This acquisition brings Magnolia to 41 operating locations in Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia.

Magnolia continues to execute against its strategy of creating regional density and operates multiple brands across its local markets.

The company has eight additional locations under construction within its Southeastern footprint, with an extensive multi-year greenfield pipeline in development. 

Magnolia was founded by Frank Bennett and Brooks Moye in 2014 and remains entrepreneurially oriented despite its experienced, professional leadership team. 

“We are very excited to enter the Chattanooga, Tennessee, area and are thrilled to welcome our new teammates from the Volunteer State,” stated Kyle Poyer, chief financial officer of Magnolia. 

“The leadership of Surf’s Up created a premium brand in a growing market within our main focus area of the Southeastern U.S.,” added Andy Agostini, Magnolia’s vice president of operations. “We are thankful to have the opportunity to continue to serve customers at the level in which Surf’s Up has [had] for years.”

Read about the top 100 carwash M&A deals here.

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