HOUSTON — WhiteWater Holding Company LLC (“WhiteWater”) has announced its acquisition of Rev Car Wash LLC (“Rev”), a Dallas-based carwash operator, according to a press release.
The acquisition of Rev adds three more locations to WhiteWater’s existing presence in the Dallas-Fort Worth market and expands WhiteWater’s current platform to 15 locations across Texas and Oklahoma, with a number of additional sites in development as well as additional acquisitions, the release continued.
“We are thrilled to have worked with the WhiteWater team and appreciated their ability to work quickly and diligently, while structuring a deal that was attractive to the multiple owners involved at Rev. The WhiteWater team has a sterling reputation in the carwash market, and it’s clear they’re a group of experienced, well-respected operators that care about building a sustainable business focused on people and culture,” said Brett Sheldon, Rev’s CEO.
Rev’s sites will be converted to the WhiteWater brand and will be operated by WhiteWater’s existing senior management: CEO Steve Mathis, President and Chief Operating Officer Clayton Clark and President of Development Ronnie Corbin, who joined the team in 2019 after WhiteWater acquired Legends Express, the release noted.
Mathis said, “WhiteWater continues to execute on its plan to build an operator-led carwash platform and be the destination of choice for owners seeking either an attractive exit opportunity or a chance to retain equity as part of a larger, rapidly expanding platform. We are actively seeking opportunities to work with owner-operators in our local markets as well as those in new regions who would serve as launching pads for additional growth with the support of our organization behind them.”
“Though Brett and his associates at Rev wanted to step away to pursue other endeavors, we’re excited to work with and support Rev’s existing management team and employees, who will be staying on under the WhiteWater banner. We look forward to bringing WhiteWater’s financial and operational resources to Rev, in addition to WhiteWater’s Employee Leadership Program and Internal Growth Opportunities to our new team members,” added Clark.