Peterson Private Equity has announced that it has invested in WashU, a Chicago-area-based car wash operator.
WashU will continue to be managed by a team with decades of industry experience. Co-founder Craig Nelson will serve as COO and CFO, overseeing corporate operations and financial reporting. Nelson has over 30 years of experience in the automotive service sector, including a previous role as COO of NASCAR Car Wash. Co-founder Steve Timmer will lead business development and car wash operations. Timmer has previously built, operated, and acquired more than 22 car wash locations. Co-founder Donald Tomich will lead construction and business planning, and Michael Timmer will oversee day-to-day operations as director of wash operations.
Peterson's investment will fund the expansion of WashU into new markets and increase its penetration in existing markets to meet the growing demand for express car wash services. The expansion will include developing and acquiring new locations.
“WashU has established a reputation for providing value, convenience, and high-quality customer service,” said Nelson. “We are thrilled to begin a partnership with Peterson Partners as we seek to scale our platform.”