Bayport International Holdings made an announcement with regard to its intense diversification into the ‘Green car wash’ spectrum. The company announced signing of a LOI (letter of intent) that confirms its acquisition of around 100% of the 360 Eco Car Wash, Inc.
The team of Bayport international is extremely thrilled and excited about signing this LOI with 360 Eco Car Wash, as we believe that this company has some tremendous growth potential. The company already has some solid revenue potential and has a superlative customer reach.
We also foresee ourselves coming into cross between Tommy Express Car wash, rather in a mobile-based format, in similar lines with the Uber mobile App. We will be persistently maintenance of our websites that are cannabis related and are currently busy in updating respective platforms for each of these websites.” said Clay Franks CEO at Bayport.
We will be providing regular updates to our respective shareholders as soon as the new details get finalised and this deal further progresses into a final term sheet and a definitive stock purchase agreement.” added Mr. Franks.
360 Eco Wash is a California-based mobile car wash service whose services remain influenced by rising clamor for fleet service support. Established in 2017, this California-based business supports close to 170 vehicle courier service across San Jose, San Francisco, and Sacramento. The business also makes use of steam based technology for cleaning exterior as well as interior parts of vehicles.
With the trend of sustainability gaining immense prominence, this acquisition will definitely add to the well-established brand equity of Bayport International. This acquisition will offer new opportunities for Bayport to foray into the green space with distinguishable offerings and stand out from the competition. Companies offering sustainable car wash systems are vying to strengthen their market sustenance through services having incredible efficiency, less wastage, and reasonable savings.
With no prominent chains dominating this market space, there exists plenty of room with plethora of opportunities for manufacturers to thrive, as a plenty pf car owners, who aren’t quite familiar with the product, will definitely appreciate the eco-friendly alternative. Addition of premium services, like hand polishing and many others, can also have significant impact on the bottom lines of these companies.