Amplify Car Wash Advisors, a national mergers and acquisitions and capital advisory firm founded by Bill Martin and Jeff Pavone, recently completed three multi-site transactions in the Southwest, Southeast and Midwest, including the successful acquisition of six Carmel Car Wash locations in the Dallas area.
Amplify advised Carmel Car Wash and completed the transaction in early July 2021. Carmel, a full-service car wash that specializes in auto detailing, continues to operate four locations.
“Jeff was extremely professional, he and his team did a great job and got us the maximum value for our locations,” said John Brodersen, President of Carmel Car Wash. “I’ve been in this business for 30 years and worked with a lot of people buying and selling car washes, and Jeff is by far the best.”
In addition, Driven Brands acquired Tropic Car Wash in a portfolio of seven locations in Louisiana and Florida. Amplify, which is headquartered in Scottsdale, Ariz., provided seller representation and completed the transaction in late June 2021.
True Blue acquired eight Extreme Clean locations in the Quad Cities, Rockford and suburbs of Chicago. This acquisition brings True Blue to 61 car washes, according to a press release. Amplify advised Extreme Clean on the transaction, which closed in late June 2021.
“The car wash industry is evolving rapidly, and we are seeing mergers and acquisitions on the rise nationwide as more regional and national brands are looking to scale in a market faster than ever,” said Jeff Pavone, Partner at Amplify Car Wash Advisors. “This means valuations are at an all-time high and now is a great time for car wash owners to consider selling their car wash chain for maximum value.”