USA: Private equity firm acquires Splash Car Wash

Car wash chain from the New York and Connecticut area with 18 sites has been acquired by Palladin to drive growth.

Palladin Consumer Retail Partners has announced the acquisition of Greenwich-based Splash Car Wash. The company was founded in 1981 and is a leading regional operator of car washes with 18 locations in New York and Connecticut.

Splash Car Wash offers full service, hand wash, express and self-service alternatives, as well as oil and lube services at premier locations.

"We have spent over a year researching the car wash industry and identified Splash as a leading regional car wash operator and the perfect anchor acquisition”, said Anders Petersen, Managing Director of Palladin.

Palladin, founded in 1998, has helped build numerous consumer and retail platforms. The portfolio team led by Anders Petersen, Managing Director and Mark Schwartz, CEO, will work closely with their operating partners to expand the Splash platform.

“Being able to work with them marks a critical next step in our growth strategy. Their expertise, support and leadership will provide creative insights and operational improvements that will be instrumental in becoming a major regional and national platform,” said Mark Curtis, CEO of Splash.

Goldman Sachs Specialty Lending Group provided debt financing for the transaction.