Another major Dutch takeover by investor Torqx
A big takeover in the car wash business in The Netherlands, as Investor Torqx acquired iClean Carwash, iClean Car Polish and iClean Car Repair in Naarden. The latter company is a well-known all-in carwash in the middle of the country. Besides washing cars, iClean also repairs car damage and is a known polishing specialist.
In 2014, brothers Hans and Bernard Musters founded iClean Naarden, together with Ed Hamming . Bernard sees the acquisition by Torqx as the logical next step: “We founded iClean Naarden 9 years ago and I am proud of the successful company we have built together with Cees and Max Klaassen.
“We have a background in the body repair business and were looking for a good way to reach the consumer. The car wash proved ideal to serve that part of the market. As an independent business it has exceeded all our expectations. Now the time has come to transfer the business in order to further accelerate our growth trajectory. It is nice to know we are transferring our business to a professional and well-funded group.”
Hein Castelijns, director of the Carwash Group, is enthusiastic about the takeover: “With iClean Naarden we add a proven total concept in the field of car wash, car polish and car repair. All services that we may also be able to offer at other locations. Moreover, I am very much looking forward to working with the team. Managing director Max, together with his team, has made iClean Naarden a well-known name in the region and that is mainly due to the very friendly and helpful approach.”
Torqx is very active when it comes to acquiring car washes. Just last month, the investor acquired Car Wash Clean In 60 Meters.
For Torqx, the acquisition of iClean Naarden is a “nice step in the further expansion of premium car wash locations in the Benelux. David van Hasselt, partner at Torqx: “iClean Naarden is a great addition to our group. It fits perfectly into the vision we have in mind. In addition, we are very happy that with this acquisition we have obtained a car wash which is less than a five-minute drive from our office. Finally we can wash ‘at home’. A great result of a very pleasant cooperation with the shareholders of iClean Naarden.”
About Torqx Capital Partners
Torqx Capital Partners is a Benelux-based private equity firm that invests in mid-sized companies with potential to accelerate. The company operates in a wide range of sectors, including manufacturing, distribution and services. Torqx acquires majority positions on a partnership basis with fellow shareholders and management teams.