Magnolia Wash Holdings, a leading and fast-growing organization of express car washes committed to reinventing the consumer experience through technology and innovation, has received a growth capital investment from funds managed by Oaktree Capital Management, L.P. to fuel the company’s long-term growth strategy. As part of the transaction, Oaktree has acquired a majority ownership position in the company. A&M Capital Opportunities Fund will maintain a material minority ownership stake in the enterprise.
“As we explored potential investment partners, Oaktree stood out for its proven track record of fostering rapid growth, unique partnerships with management teams, and value creation for stakeholders,” said Jose Costa, CEO of Magnolia Wash Holdings. “We expect Oaktree’s resources, experience, and track record will be invaluable to us as we continue to expand our presence in the fast-growing express car wash category. I can’t wait to see where we’ll be in a few years with this partnership.”
Magnolia currently operates 93 car wash locations in eight states, with 25 additional locations under construction and more than 200,000 members in its Wash Club Membership Program.
“Magnolia and its management team have an impressive track record, and with our investment, we believe they are poised to grow into a preeminent operator in the industry,” said David Quick, managing director and assistant portfolio manager at Oaktree. “This is a special opportunity to partner with an experienced management team at a company that is well-positioned to take advantage of the significant runway ahead.”