Accelerated Brands, an oil change and car wash platform, announced the closing of new financing totaling $200 million. Monarch Alternative Capital LP, a private credit firm with approximately $12.5 billion of assets under management, provided the secured bank loan facility to bolster the financial strength of the existing business, provide capital for near-term acquisitions, and aid in the future growth of the company. 

            “Monarch brought a specialized value proposition to the table through its ability to offer a comprehensive and highly flexible capital solution that addressed our unique needs,” said Justin Strickland, founder and CEO of Accelerated Brands.

            Accelerated Brands provides a comprehensive set of consumer and commercial automotive services through its network of more than 200 corporate-owned and franchised oil change stores and car washes across 25 states.

            The company continues to execute its vision of becoming the leading provider of automotive services by scaling its operations through various future acquisitions and greenfield expansions across the United States. Its diverse platform will be further augmented through the additional capital from Monarch.

            “Accelerated Brands stands as a prominent leader in a vast, fragmented industry,” said Navid Rahgozar, principal, Monarch Alternative Capital. “We believe the company exhibits remarkable scalability and is effectively implementing its acquisitive model.”