Golden Gate Capital, a private equity investment firm, and Tidal Wave Auto Spa founder and CEO, Scott Blackstock, have announced the recapitalization of Tidal Wave, a fast-growing premium conveyor car wash chain in the United States. Blackstock will continue to lead the company as CEO and will remain a significant shareholder. The company will continue to be headquartered in Thomaston, GA. Terms of the transaction were not disclosed.
Founded in 1999, Tidal Wave's current footprint consists of more than 60 locations across 11 states in the Southeast and the Midwest. Its unit count has grown 50 percent annually since 2017.
“Our success is driven by our unwavering commitment to providing customers with the highest quality washes, maintaining best-in-class locations that are a pleasure to visit, and delivering top-tier customer service at every visit," said Blackstock. "Golden Gate Capital will provide invaluable multi-unit consumer and real estate industry expertise and additional development resources, which will fuel our continued expansion across the United States."