Access Holdings, a Baltimore-based mid-market investment firm, today announced a capital raise to fund the growth of portfolio company Spotless Brands. The capital raised will directly support the growth and innovation of the business, scaling its operations in new and existing markets, through both de novo expansion as well as accretive M&A. Access partnered on the capital raise with Wafra Inc., a global alternative investment firm.
“This capital will be utilized to further enhance our position as the industry’s premier express car wash platform via new market expansion, accelerated densification of our current markets, and investment in transformational infrastructure and technology,” said Spotless Brands CEO Russ Reynolds.
Established in 2019, Spotless Brands has expanded its presence from a single market comprised of 24 sites to more than 140 sites operating in nine markets. Spotless Brands is currently on track to add one to two new geographies to its business each year through both de novo builds as well as M&A activity.