Freeman Spogli & Co., a private equity firm based in the US, has partnered with WhiteWater Express Car Wash, also based in the US. The partnership was announced on December 23, 2021, and closed on the same date. Financial details of the deal were not disclosed, but it is expected to support WhiteWater Express Car Wash’s growth through a combination of acquisitions and greenfield development.
| Acquirer | Freeman Spogli & Co. |
|---|---|
| Target | WhiteWater Express Car Wash |
| Value | Undisclosed |
| Type | Buyout |
| Date closed | 2021-12-23 |
| Advisors (buy-side) | J.P. Morgan Securities plc |
| Advisors (sell-side) | Harris Williams |
| Legal advisors (buy-side) | Gibson Dunn & Crutcher |
| Legal advisors (sell-side) | Holland & Knight |
The partnership aims to accelerate WhiteWater Express Car Wash’s growth strategy, which includes expanding its footprint through acquisitions and developing new car wash facilities.
Strategic Rationale
Freeman Spogli & Co. intends to support WhiteWater Express Car Wash in achieving significant organic growth while also pursuing strategic add-on acquisitions that align with the company’s vision of becoming a leading player in the car wash industry. The partnership is expected to enhance operational efficiency and provide capital for expansion.
Financial Context
The exact financial terms of the deal were not disclosed, but WhiteWater Express Car Wash is known for its rapid growth through both organic expansion and acquisitions.
Advisors
J.P. Morgan Securities plc acted as a buy-side advisor in this transaction, while Harris Williams served as sell-side advisors for WhiteWater Express Car Wash.
Gibson Dunn & Crutcher provided legal counsel to the buy-side, with Holland & Knight representing the interests of the sell-side.
Outlook
The partnership is anticipated to create significant value through strategic growth initiatives and operational enhancements for WhiteWater Express Car Wash. This collaboration could position the company well for further expansion in the US car wash market.