Private equity firm invests in US carwash operator
SkyKnight Capital has made an investment in WhiteWater Express Car Wash.
SkyKnight Capital announced that it has made an investment into WhiteWater Express Car Wash, a multi-location car wash operator headquartered in Houston. The terms of the transaction were not disclosed.
The WhiteWater investment will be the second investment from SkyKnight Capital Fund II.
WhiteWater owns and operates express exterior car washes and generates a significant portion of its revenue from monthly memberships.
WhiteWater will continue to be led by Clayton Clark and CEO Steve Mathis. WhiteWater President Clayton Clark was part of the management team that helped build Bubbles Car Wash and then sold the platform to Mister Car Wash.
“We are excited to raise growth capital from SkyKnight to execute on WhiteWater’s long-term vision. We chose to work with SkyKnight based upon their partnership approach to investing and our extensive review of references,” expressed White Water CEO, Mr. Mathis.
“WhiteWater is a strong, growing business with incredible potential to expand through a combination of new site development and acquisitions across a highly fragmented market”, said Managing Partner of SkyKnight Capital, Matthew Ebbel.
SkyKnight platform investments to date have consisted of equity commitments ranging from $10 million to over $200 million.
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