PetroCal Associates announces another successful business sale with the April closing of The Speedwash, four express exterior carwash locations in Victor Valley, to Mister Car Wash, the largest car wash operator in the United States. The sale was for an undisclosed amount.
First established in 2009, The Speedwash is the premier express carwash brand of the High Desert. After building their first site in Victorville, founders Fred Simab and Pedram Fararooy expanded The Speedwash to Hesperia in 2015 and subsequently opened two additional locations in Victorville in 2020.
"PetroCal Associates was instrumental in orchestrating our growth and expansion plans spanning multiple years, from arranging construction financing for our development projects to advising us on our recent exit," said Fred Simab co-founder of The Speedwash. "With their industry knowhow, they approached us about exploring a sale when the timing was right and they were the only company we'd trust to represent us in a sale given their honesty, reliability, connectedness within the industry, and reputation. They ran a smooth and thorough process, and we couldn't be more pleased with the result," continued Simab.
PetroCal specializes in serving entrepreneurs that are seeking to launch, grow, and sell their businesses. The partnership with The Speedwash was built over many years that led to a successful exit for the founders. "The Speedwash portfolio is a model for a regional car wash chain. The sites are architecturally gorgeous and functionally optimized for high volume. They are strategically spaced from each other conveniently serving the High Desert communities," said Reuven Birnkrant, CEO of PetroCal Associates. "Fred and Pedram built something special and we are proud of what we were able to deliver for our long-time clients."