Little Rock, AR-based Boomerang Carwash, one of the nations largest express-exterior car wash operators, is now under new ownership. The new company, Boomerang Holdings LLC, was created through the roll-up of 29 Boomerang Carwash locations that had either been franchise locations or leased facilities. Boomerang Holding, LLC now owns all of the car wash property and real estate and also purchased the former operating company, Drive Clean Holdings LLC, as part of the transaction.

Boomerang Holdings LLC is operated by a corporate staff in Little Rock, AR and lead by James Burks who has been appointed CEO of the new company. The company is overseen by a new five-member board of directors over which John Bailey presides as chairman. Ownership restructuring has created a solidly funded organization with over $75 million in assets and $29 million in equity.

"We were able to achieve this structure by the in-kind contribution of franchisee and facility owners of the Boomerang Carwash locations," says Bailey. "Individual ownership equities in the various properties were all contributed for stock ownership in Boomerang Holding LLC."

The company has plans to improve operations by recruiting, training, and retaining strong facility operators, adding new technologies and features, and overall quality of wash. The company employs approximately 150 full-time and part-time team members to manage and operate the 29 facilities located in Arkansas, Oklahoma, Tennessee, Texas, Louisiana, and Mississippi.

The company plans to continue to build market density in current areas of operation through new facility development or acquisitions.