Imperial Capital Group Ltd. has announced the launch of GO Car Wash, the nation’s newest express carwash platform, with a focus on secondary cities across North America, according to a press release.
“We see a tremendous opportunity to deploy our back, buy and build investment strategy within the carwash industry and are excited to build a multi-regional platform of high-quality carwashes,” said Christopher Harris, partner at Imperial Capital.
“To launch the platform, we are pleased to be teaming up with Darren Skarecky, CEO, and JT Thomson, COO — two strong industry veterans bringing a wealth of insight and perspective to fortify our foundation for growth.” GO Car Wash, headquartered in Phoenix, plans to invest heavily in building out its corporate infrastructure to support its future growth, the release continued.
The company expects to deploy a multi-pronged growth strategy focused on acquisitions, partnerships and new site build-outs, the release noted. It will have a specific emphasis on empowering local owner-operators to develop and grow regional clusters in attractive geographies, the release stated.
“We are passionate about the carwash business,” said Skarecky, who was part of the executive team at one of the nation’s largest carwash consolidators, “and we plan to execute on an aggressive growth plan beginning this quarter. With experienced industry operators such as JT Thomson, we have the core team in place to achieve this growth and offer a differentiated platform to the carwash industry.”
“In aggressively reviewing acquisitions, partnerships and new site build-outs,” said Thomson, “we plan to methodically expand the business through a significant number of acquisitions while maintaining an operational and technological focus.”
“Our flexible acquisition model that benefits potential sellers and partners was designed to ensure that we reach the optimal structure for every deal,” said Skarecky. “By understanding what owner-operators are looking for and by combining Imperial Capital’s strong multi-site experience with our deep industry experience, GO Car Wash is well positioned for future success in the carwash industry.”
Go Car Wash is Imperial Capital’s first investment for Imperial Capital Acquisition Fund VII, the release concluded.