Summit Wash Holdings, a private equity-backed entrant into the car wash industry, announced its express car wash platform and partnership with New Mountain Capital. The initial platform was formed with the acquisitions of Russell Speeder’s Car Wash, Waters Car Wash, and Squeeky’s Car Wash and consists of 37 car wash sites across the Northeast, Florida, and Nebraska markets. Dan Pittman, the former CEO of DRB Systems, is the new CEO. 
    Car Wash Advisory, an investment banking firm, and transaction advisor focused exclusively on the car wash industry, advised 
Florida-based Waters Car Wash. Waters Car Wash currently has five express car washes in operation, with another four in development throughout Central and South Florida. The Waters Car Wash team will be staying on in a development role to identify and build new car wash sites throughout Florida.
    “We are really proud of the outcome of this transaction for Waters, which allows these entrepreneurs to be rewarded for their many years of hard work but also allows them to leverage their development expertise to grow the Waters brand with their new partner,” said Colin May, managing director, Car Wash Advisory.