ATLANTA — Mammoth Holdings LLC announced that it had completed an equity capital raise with CCMP Growth Advisors, a New York-based private equity firm, according to a press release.
“We’re focused on growth at Mammoth Holdings and this equity raise will ensure that we can accelerate new store openings, invest in cutting-edge technology and remain the partner-of-choice for carwash operators seeking to sell their business,” said Dave Hoffmann, chairman and CEO of Mammoth Holdings. Hoffmann added, “We’re also excited to add another high-quality investor with extensive multi-unit company experience to our board of directors.”
Joe Scharfenberger, the managing director at CCMP who led the deal, commented, “We’ve evaluated several potential carwash investments, and Mammoth stood out to us as the best platform we’ve seen in the industry.”
Scharfenberger continued, “Their management team is outstanding; they have a compelling consumer value proposition and a strong geographic footprint with a deep pipeline of new stores; and we know and trust the other investors on the board. Mammoth has a lot to like.”
Mammoth has significant growth capital and is actively seeking acquisitions and development opportunities.
JP Morgan advised Mammoth on the transaction. To learn more, visit www.mammothholdings.com.
