Amplify Car Wash Advisors, a national mergers and acquisitions and capital advisory firm founded by Bill Martin and Jeff Pavone, announced the successful acquisition of Four Seasons Car Wash by Atlantic Street Capital, bringing the total number of car wash sales facilitated by the firm to 24 for the month of November. Amplify Car Wash Advisors represented the seller in the transaction.
“On the heels of The Car Wash Show in Las Vegas, we can sum up the industry in one word: hot,” said Pavone, partner at Amplify Car Wash Advisors. “With interest in the car wash space at an all-time high and the end of the year fast approaching, we are completing a record number of transactions.”
Four Seasons Car Wash is an express exterior car wash chain with locations in Minnesota and was founded by Nate Pierson in 2010.
In addition to the Four Seasons transaction, Amplify Car Wash Advisors provided sell-side advisory services to Busy Bee Car Wash with three locations in the Miami area. Busy Bee joined Mammoth Holdings in early November.
“Selling our business after 52 years is a big deal and certainly not a decision I took lightly,” said Jim Mulholland, owner of Busy Bee Car Wash. “Turning over our family legacy was an emotional process and I appreciated that the team at Amplify respected that. They helped me understand my options and found the best deal for me.”
Amplify Car Wash Advisors also provided sell-side advisory services to Classy Chassy in the sale of 17 locations in upstate New York to Splash Car Wash, which also closed in early November.
“Our number one goal at Amplify Car Wash Advisors is to help car wash owners understand they have options,” said Pavone. “By using a competitive bid process, we can maximize the value of their chain and ensure our clients are getting the best possible deal, as opposed to selling direct to one buyer. With only one offer, sellers are undoubtedly leaving money on the table.