Mammoth Holdings, LLC ("Mammoth"), an Atlanta-based conveyor car wash operator, has acquired Papa's Express Tunnel Car Wash ("Papa's"), an express conveyor car wash in Saratoga Springs, Utah.
Gary Dennis, Mammoth's co-founder and CEO, explained, "Papa's will expand our presence in the Utah County area and fits our existing footprint well. " He added, "Mammoth will now have five stores in the area providing our customers and unlimited wash club subscribers with expanded wash options."
Papa's co-founder Mark Philipp stated, "We are excited to see our store continue to grow with the Mammoth team." He added, "They made this process easy for me from start to finish, and I know they will take great care of our people and our customers."
Mammoth is the first car wash acquisition platform formed by industry-insiders and is the 8th largest express conveyor car wash operator in the United States. Mammoth is customer-focused operationally and operator-focused in its approach to acquisitions and seeks to be the partner-of-choice for car wash operators who desire liquidity, growth capital, and a tax-deferred equity investment opportunity.
Mammoth's multi-brand portfolio includes Marc-1, Wash Me Fast, Swifty, Ultra, Finish Line, Wiggy Wash, Shine On, and PitStop, among others. Mammoth has significant growth capital at its disposal and is actively seeking acquisitions and development opportunities.
In October 2018, Mammoth partnered with Red Dog Equity LLC, an Atlanta-based private equity firm, which, through its partnership with Tom Pritzker's family business interests (advised by The Pritzker Organization), provides the equity for Mammoth's corporate development initiatives. Monroe Capital provides Mammoth's debt financing.