Mister Car Wash acquires Speedwash
Four express exterior car wash locations from Californian brand The Speedwash were recently sold to Mister Car Wash, a recent press release by PetroCal Associates learned. It did not reveal the amount of money involved in the deal, which follows on the recent acquisition of a Bamboo car wash in Duluth, Georgia.
First established in 2009, The Speedwash in California is considered the premier express car wash brand of the High Desert. After building their first site in Victorville, founders Fred Simab and Pedram Fararooy expanded The Speedwash to Hesperia in 2015 and subsequently opened two additional locations in Victorville in 2020.
“PetroCal Associates was instrumental in orchestrating our growth and expansion plans spanning multiple years”, says Speedwash co-founder Fred Simab. “From arranging construction financing for our development projects to advising us on our recent exit.”
Gorgeous sites
PetroCal specializes in serving entrepreneurs that are seeking to launch, grow, and sell their businesses. The partnership with The Speedwash was built over many years that led to a successful exit for the founders. Reuven Birnkrant of PetroCal states: “The Speedwash portfolio is a model for a regional car wash chain. The sites are architecturally gorgeous and functionally optimized for high volume. They are strategically spaced from each other, conveniently serving the High Desert communities.”
Mister Car Wash is the fastest growing and largest car wash chain in the United States. The company is headquartered in Tucson, Arizona and currently operates over 300 locations and 31 Mister Oil Change Express locations in 21 states, has more than 7,500 employees and services over 26 million vehicles annually.
Bamboo
They recently also acquired the Bamboo Carwash in Duluth, Georgia. In the coming months Mister Car Wash will be working with the Bamboo and Speedwash teams to rebrand the stores and optimize service and product offerings as they fully integrate into the brand.
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