Toronto-based private equity firm Imperial Capital Group Ltd. has announced the launch of GO Car Wash, the nation’s newest express car wash platform. Headquartered in Phoenix, AZ, it will focus on secondary cities across North America.
“We see a tremendous opportunity to deploy our back, buy, and build investment strategy within the car wash industry and are excited to build a multi-regional platform of high-quality car washes,” said Christopher Harris, partner at Imperial Capital. “To launch the platform, we are pleased to be teaming up with Darren Skarecky (CEO) and JT Thomson (COO), two strong industry veterans bringing a wealth of insight and perspective to fortify our foundation for growth.”
GO Car Wash plans to invest heavily in building out its corporate infrastructure to support its future growth. The company expects to deploy a multi-pronged growth strategy focused on acquisitions, partnerships, and new site build outs. It will have a specific emphasis on empowering local owner-operators to develop and grow regional clusters in attractive geographies.
“We are passionate about the car wash business,” said Skarecky, who was part of the executive team at one of the nation’s largest car wash consolidators, “and we plan to execute on an aggressive growth plan beginning this quarter. With experienced industry operators such as JT Thomson, we have the core team in place to achieve this growth and offer a differentiated platform to the car wash industry.”
“In aggressively reviewing acquisitions, partnerships, and new site build outs, we plan to methodically expand the business through a significant number of acquisitions while maintaining an operational and technological focus,” said Thomson.
“Our flexible acquisition model that benefits potential sellers and partners was designed to ensure that we reach the optimal structure for every deal,” said Skarecky. “By understanding what owner-operators are looking for and by combining Imperial Capital’s strong multi-site experience with our deep industry experience, GO Car Wash is well positioned for future success in the car wash industry.”