GRIMES, Iowa — National Carwash Solutions (NCS) announced that it has entered into a recapitalization transaction with Berkshire Partners, a Boston-based investment firm, according to a press release.
Terms of the transaction were not disclosed.
NCS provides its customers with a fully integrated suite of offerings to meet all their operational needs, including carwash systems, aftermarket parts, cleaning fluids and vacuums — all supported through its industry-leading distribution and services footprint, the release noted.
The company goes to market with an integrated portfolio of reputable brands, including MacNeil Wash Systems, Ryko Solutions, CleanTouch Cleaning Solutions, Cleaning Systems Inc., TSS Car Wash Services and Vacutech Vacuums, the release added.
“We are excited to collaborate with Berkshire Partners in the next chapter of our growth,” said Michael Gillen, CEO of National Carwash Solutions. “NCS offers an unparalleled set of offerings to serve carwash operators, and we look forward to continuing to pursue our mission of providing the best vehicle-washing service in the market.”
“We are thrilled to partner with Mike and his team,” said Larry Hamelsky, managing director of Berkshire Partners. “NCS has built a unique and compelling position in the industry, and we share the team’s vision of delivering superior value to carwash operators by providing an integrated, end-to-end suite of products and solutions.”
Berkshire Private Equity acquired its position in the company from AEA Investors, the release noted.
BlackArch Partners served as exclusive financial advisor for NCS, and Weil, Gotshal & Manges LLP advised Berkshire Partners on the transaction, the release concluded.