International Car Wash Group (ICWG) Acquires Two Sites from Wash N’ Roll
DENVER--(BUSINESS WIRE)--May 6, 2019--The International Car Wash Group (ICWG), the world’s largest local car wash company and the third largest owner of US conveyor car washes, today announced its expansion in to the middle Tennessee/Nashville market with the acquisition of two premier sites from Wash N’ Roll. The two companies are also entering into a deal to develop and expand in Nashville and surrounding areas.
“Wash N’ Roll represents everything we seek in a potential acquisition and partner,” said Jeff Maize, VP of Acquisitions, ICWG. “They have a talented team with whom we share a vision about how to approach the growth and expansion of the car wash business.”
“ICWG is the perfect partner for us,” explained Steve Griffith, principal owner of Wash N’ Roll. “We appreciate the creativity they showed in structuring a relationship that both works well for us and upholds the values we have sought to bring to life here in Tennessee. Our chemistry was strong from the very first meeting and we are excited about what we can accomplish together.”
Over the next six months, the two acquired Wash N’ Roll sites will be re-branded as part of Car Wash USA Express, the largest exterior express car wash in the mid-South, and one of three brands in the ICWG family. ICWG is actively expanding its US leadership through a regional, multi-brand strategy. Laser-focused on ensuring its brands realize their full potential, ICWG invests in employee retention, asset enhancement, and marketing support/brand development.
“We have two key goals for the foreseeable future: to delight our customers every day with a great car wash at a great value and to continue to expand our footprint across the US,” said Tom Mangas, CEO, ICWG. “We are interested in doing more deals and hope that our resourcefulness and flexibility will make ICWG an appealing choice for car wash operators interested in selling their business and partnering with us.”
ICWG also counts Goo-Goo Express and Supersonic Car Wash among its family of brands. Owing to its size and depth of experience, ICWG is uniquely able to leverage its rich know-how and strong economies of scale to invest in its portfolio companies and employees while enhancing operational efficiency.
About International Car Wash Group (ICWG)
Headquartered in Centennial, Colorado the International Car Wash Group (ICWG) is the world’s largest local car wash, cleaning more than 35 million cars a year. It operates 900 locations in 14 countries across US, Europe and Australia, with 150 US venues. The Company was founded in Germany in 1965 under the IMO brand, the name still used at its non-US locations. ICWG entered the US market in 2015 and quickly became the third largest conveyor car wash owner, operating under the Car Wash USA Express, Goo-Goo Express, and Supersonic Car Wash brands. ICWG is committed to leading the industry in operational excellence and innovative customer service and aims to be the partner of choice for employees and all car wash operators potentially interested in joining the ICWG family.
For more information, please visit: https://www.icwg.com/
About Wash N’ Roll
Wash N’ Roll is the premier drive through car wash operator in Middle Tennessee. The company strives to provide fast, friendly, budget-conscious service that is also environmentally responsible. Nashville-owned and operated, Steve Griffith, Jeremy Hall and Brian Peterson have opened 10 locations in TN, and currently have another 10 sites in the development process or under construction to complete the first phase of their development plans. The group has also begun ground work for development in other regions and hopes to hit new markets in 2020.
For more information, please visit: https://www.mywashnroll.com/
View source version on businesswire.com:https://www.businesswire.com/news/home/20190506005074/en/
CONTACT: Judy Grossman
Red Fox Communications
KEYWORD: UNITED STATES NORTH AMERICA COLORADO TENNESSEE
INDUSTRY KEYWORD: AUTOMOTIVE OTHER AUTOMOTIVE RETAIL SPECIALTY GENERAL AUTOMOTIVE
SOURCE: The International Car Wash Group (ICWG)
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PUB: 05/06/2019 08:30 AM/DISC: 05/06/2019 08:30 AM