LOS ANGELES — PetroCal Associates recently announced in a press release the successful business sale of The Speedwash to Mister Car Wash.
The portfolio consisted of four express exterior carwash locations in Victor Valley, California. The sale was for an undisclosed amount.
First established in 2009, The Speedwash is the premier express carwash brand of the High Desert, the press release stated.
After building their first site in Victorville, California, founders Fred Simab and Pedram Fararooy expanded The Speedwash to Hesperia, California, in 2015 and subsequently opened two additional locations in Victorville in 2020.
“PetroCal Associates was instrumental in orchestrating our growth and expansion plans spanning multiple years, from arranging construction financing for our development projects to advising us on our recent exit,” said Fred Simab co-founder of The Speedwash. “With their industry knowhow, they approached us about exploring a sale when the timing was right and they were the only company we’d trust to represent us in a sale given their honesty, reliability, connectedness within the industry and reputation. They ran a smooth and thorough process, and we couldn’t be more pleased with the result.”
PetroCal specializes in serving entrepreneurs that are seeking to launch, grow and sell their businesses.
The partnership with The Speedwash was built over many years that led to a successful exit for the founders.
“The Speedwash portfolio is a model for a regional carwash chain. The sites are architecturally gorgeous and functionally optimized for high volume. They are strategically spaced from each other conveniently serving the High Desert communities,” shared Reuven Birnkrant, CEO of PetroCal Associates. “Fred and Pedram built something special and we are proud of what we were able to deliver for our long-time clients.”