Industry Newsline

PRIVATE EQUITY FIRM ACQUIRES SPLASH CAR WASH

11/13/18

Palladin Consumer Retail Partners LLC has announced the acquisition of Greenwich, CT-based Splash Car Wash.

Splash, founded in 1981, is a regional car wash operator with 18 locations in New York and Connecticut. The company offers full service, hand wash, express, and self-service alternatives, as well as oil and lube services at premier locations. Splash provides its customers with multiple options under various programs including monthly subscriptions and a la carte pricing.

Palladin portfolio team, led by Anders Petersen, managing director, and Mark Schwartz, CEO, will work closely with their operating partners providing marketing, financial, real estate, systems, and other expertise to help management expand the Splash platform. Splash and Palladin are eager to partner with other car wash owners interested in either liquidity and/or a partnership with a strong professional operation with significant upside potential.

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

“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 Petersen. “The experience of the management team, familiarity managing different car wash models, and commitment to employees and customer service provide an excellent partnership for growth and development. We look forward to working with Mark and his team growing Splash both organically and through acquisitions.”



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