Carwash Capital Group, an advisory firm focused exclusively on the car wash industry, has announced the successful closing on the sale of two Hurricane Express Car Wash locations to PassiveInvesting.com, a private equity real estate investment firm. Hurricane operates high-volume express car washes in the Fayetteville and Lumberton markets of North Carolina.

“We are pleased to close this transaction with a win-win for the seller and buyer,” said Stephen Arrivello, managing director of CCG. “During this time of heightened M&A activity in the car wash space, we obtained a healthy multiple for the seller, while affording the buyer significant upside potential.” He continued, “Right now most of our activity involves working with private equity firms like Passive getting into the car wash space with both M&A and ground-up development.”