World’s largest carwash company, IMO, sold to TDR Capital - Professional Carwashing & Detailing

World’s largest carwash company, IMO, sold to TDR Capital

LONDON, England — IMO Car Wash, which has 834 locations over 13 countries, has been sold to TDR Capital, a private equity group, according to The Telegraph.

LONDON, England — IMO, the world’s largest carwash company, has been sold to TDR Capital, a private equity group, two years after the original deal broke down, according to The Telegraph.

IMO was founded in 1954 in Germany, noted the article, and has grown to 834 washes across 13 countries. There are 323 German locations, 280 in the UK, with the rest spread across Europe and Australia.

Read also: PC&D Australia

The article states about the original deal that fell through: “TDR was first in sale talks with [IMO] in 2012 but the deal broke down after the company’s owners — a collection of banks and hedge funds — rejected TDR’s offer.”

To visit the IMO website, click here

To read the full story, click here

You May Also Like

Summit Wash Holdings announces $200M+ growth investment 

PALM BEACH GARDENS, Fla. — The carwash company is committed to strategic growth opportunities in existing markets.

PALM BEACH GARDENS, Fla. — Summit Wash Holdings, a membership-focused carwash group established in 2022, announced in a press release it has received more than $200 million in debt financing to continue expansion in Central Florida, Connecticut and New Jersey.

Summit, which currently operates 54 sites, will use the funding to nearly double its location count with plans to surpass 100 locations by mid-2025.“This significant investment in Summit Wash Holdings marks a milestone in our journey,” said Dan Pittman, CEO of Summit Wash Holdings. “The funding supports brand expansion as well as our commitment to our customers and the communities we serve.”Established in 2022 and headquartered in Norwalk, Connecticut, and Palm Beach Gardens, Florida, Summit was initially formed through a partnership with Russell Speeder’s Car Wash, a 21-site family-owned carwash platform with locations primarily in the Northeast and Omaha, Nebraska.

National Carwash Solutions announces new CCO

GRIMES, Iowa — The new NCS CCO will leverage extensive experience in engineered products markets to enhance sales and marketing strategies.

ncs-logo-feature
Mark VII Equipment new CEO

ARVADA, Colo. — Mark VII’s new CEO, Uwe Scharfy, took his position on May 1, bringing a wealth of knowledge and leadership to the company.

mark vii logo
IGL Coatings USA welcomes new leaders

SARALAND, Ala. — The company has made a transition in ownership and leadership, passing the reins to Mike Karlen and Dustin Jackson.

igl new leaders
ZIPS Car Wash celebrates over 40,000 teachers and nurses

PLANO, Texas — The honoring of teachers and nurses helped celebrate them for two national appreciation days.

ZIPS Car Wash celebrates over 40,000 teachers and nurses

Other Posts

DRB announces new regional sales representative

AKRON, Ohio — Matthew Skaggs will serve the Northeast region for tunnel sales at DRB and has been with the company for nearly 30 years.

National Carwash Solutions unites chemistry brands

GRIMES, Iowa — NCS Chemistry sets a new standard for operational excellence and sustainability by combining the three brands.

National Carwash Solutions unite chemistry brands
Rinsed acquires Ignite Wash

NEW YORK — The acquisition will empower operators with cutting-edge CRM technology for enhanced customer interactions and increased revenue.

rinsed logo
ISTOBAL reaches turnover of 156 million euros in 2023

VALENCIA, Spain — The group maintained solid profitability driven by its service line and improved operating margins in key markets.