Turtle Wax secures multimillion-dollar funding agreement

Turtle Wax secures multimillion-dollar funding agreement

LIVERPOOL, England — The agreement is to help assist growth plans for Turtle Wax’s Europe, Middle East and Africa (EMEA) operations.

LIVERPOOL, England — Turtle Wax secured an approximately $9.3 million (£6 million) funding agreement with Bibby Financial Services (BFS), according to the International Carwash Association (ICA).

The agreement is to help assist growth plans for Turtle Wax’s Europe, Middle East and Africa (EMEA) operations, the article stated.

“We have ambitious plans to grow throughout the EMEA region and required a finance partner that not only understood the history and seasonality of our business, but [could] also support our expansion plans for the future,” said Mark Brickhill, EMEA president for Turtle Wax, in the article. “We considered a number of options but Bibby Financial Services [was] able to demonstrate both experience and acumen in structuring a finance package that was competitive and flexible.”

Turtle Wax relocated its EMEA headquarters to Bootle, Liverpool, last October, the article continued.

Following the launch of two new product lines, Perfect Finish and Essentials, the company is now planning to grow its market share throughout the region, the article reported.

“Turtle Wax is a market leading, global brand with significant expansion plans,” said Chris Farnsworth, corporate manager for BFS, in the article. “This was a complex deal, where we had to get to know the business, understand their future plans and structure a finance facility that would support domestic growth here in the U.K. but also help them to achieve their ambitious export targets throughout Europe, the Middle East and Africa.”

Turtle Wax, founded in 1945, is a family-owned and operated car care business with sales in over 90 countries, noted the article.

You can find the article here.

You May Also Like

Kleen-Rite Missouri moves into new distribution center facility

COLUMBIA, Pa. — The new distribution center in Kansas City, Missouri, aims to enhance inventory and shipping efficiency for the region.

Kleen-Rite Corp.

COLUMBIA, Pa. — Kleen-Rite Corp. announced in a press release the opening of a distribution center facility at a new location in Kansas City, Missouri.

Replacing the previous distribution center, the new facility has more space to stock an expanded inventory selection and ship products faster in the region.

DRB appoints April Bertram as VP of product management

AKRON, Ohio — With over 30 years of experience in product innovation, Bertram joins DRB to shape the future of its product portfolio.

New detailing nonprofit to help underserved youth

LAGUNA HILLS, Calif. — Renowned automotive detailer Rigo Santana launched the New Generation Kids nonprofit to provide early training and career opportunities.

la-detailing-nonprofit
Splash welcomes Kathryn Rogers as chief financial officer

LITTLE ROCK, Ark. — Rogers brings extensive experience to Splash Car Wash, having worked with major firms and non-profits.

kathryn-rogers-splash
Splash Car Wash to build four new locations

LITTLE ROCK, Ark. — The Fayetteville Splash Car Wash opened in June 2024, featuring an express carwash tunnel with high-powered free vacuums.

Other Posts

Whistle Express opens Fairdale location with donation to hospital

FAIRDALE, Ky. — Celebration will include exclusive promotions, a $1 donation to Norton Children’s Hospital for every car washed and more.

Whistle Express car wash - magnolia holdings
The RipTide Car Wash acquires MILES Auto Spa

NASHVILLE — This strategic move enhances RipTide’s presence in the Southeast, particularly in the thriving Nashville market.

MILES Auto Spa logo
Lucas Oil facilities receive recertification for ISO 9001:2015

INDIANAPOLIS — Certification shows Lucas Oil’s commitment to quality proprietary solutions, regulatory compliance and customer satisfaction.

lucas-oil-recertification
Hanley Investment Group arranges sale of new Mister Car Wash

MERIDIAN, Idaho — The Mister Car Wash property, constructed in 2024, features a 5,381-square-foot facility on a 1.04-acre parcel.

mister-car-wash