Warburg Pincus buys El Car Wash

Warburg Pincus buys El Car WashEl Car Wash

El Car Wash has recently been acquired by Warburg Pincus. By doing this, the private equity firm purchased one of the largest express car wash operators in South Florida.

The brand currently operates 17 car wash locations across Florida. More than 30 additional sites are in development across the sunshine state.

“We have built El Car Wash into a market-leading platform by relentlessly focusing on delivering friendly customer service and a best-in-class wash experience via a dense network of clean and recognizable modern facilities”, says Geoff Karas, Co-CEO of El Car Wash in a press release. “This strategy has generated a loyal, growing membership base that we hope to service more conveniently by rapidly expanding El’s store footprint in partnership with Warburg Pincus.”

New York

Warburg Pincus is a global growth investor from New York with more than $85 billion in assets under management. The firm’s active portfolio contains over 250 companies in a range of sectors including retail, industrial manufacturing, energy, financial services, health care, technology, media, and real estate. The private equity firm was founded in 1966, and has since then raised 21 private equity and 2 real estate funds, which have invested more than $106 billion in over 1,000 companies in more than 40 countries.

Like so many other car washes, El Car Wash flourished over the unlimited model, which start at $ 19, 99 for a basic subscription all the way up to $39, 99 a month for a ‘Ceramic treatment’.

El also claims to be very eco-friendly. The chemicals in their tunnels are custom blended and they allegedly reclaim 90% of the used water.

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Author: Rene Passet

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