DALLAS — Mammoth Holdings LLC announced in a press release the refinancing of its operations through Oak Hill Advisors (OHA) totaling more than $500 million in size.
The funding will support Mammoth’s long-term growth strategy of acquiring existing carwash brands and opening greenfield locations.
Mammoth’s operating platform maintains more than 100 locations through its multi-brand portfolio.
The financing will help Mammoth achieve its goal of reaching 500 sites across the country by providing resources and opportunities to its owner-operators.
“We are focused on scaling our platform and delivering on our growth strategy for Mammoth and its holders. With OHA’s extensive industry knowledge, they are the partner of choice in supporting this transaction,” said Dave Hoffmann, chairman and CEO of Mammoth. “Our team looks forward to a long-term partnership with such a well-respected lending group like OHA in supporting our operations.”
“We are pleased to harness our specialized knowledge and financing capabilities to support the continued growth and development opportunities for Mammoth and its equity providers,” said Eric Muller, portfolio manager and partner at OHA in separate release.
Mammoth Holdings is the first carwash platform formed by industry insiders and has operating locations across the country.
