Mammoth Holdings, LLC, an Atlanta-based express conveyor car wash operator, has formed a 22-unit platform with the acquisitions of Birmingham-based Marc-1 Car Wash and Atlanta-based Wash Me Fast, LLC.
"We've brought several leading brands under one roof to create the first car wash acquisition platform formed by industry-insiders," said Gary Dennis, Mammoth's co-founder and CEO. "We are 'customer-focused' operationally and 'operator-focused' when it comes to acquisitions. We want to be the partner-of-choice for car wash operators who want liquidity yet want their company and employees to end up in the right hands."
"When I looked at this opportunity a couple months ago, it made sense to me immediately," said Marcus Kittrell, the founder of Marc-1 Car Wash who will be senior vice president of operations and M&A for Mammoth in addition to being a major investor. "I spent the better part of my life building my business, and joining forces with operators I trust and respect, who are as passionate about customer service and providing a great place to work for their associates as I am, was an easy decision."
Chip Hackett, Mammoth's co-founder and CFO, is excited to have Kittrell on board. "When Marcus said he was 'in', Gary and I knew we were putting together something special," Hackett said. "Something leading operators in the industry like Marcus have wanted for a long time."
Jim Dudley, the founder of Wash Me Fast who made a significant investment in the Mammoth platform, said, "I could have sold my business many times and chose not to. Mammoth presented the opportunity to sell to a group that I know will take care of my customers and employees the way I would have. They're operators who know the car wash business, and they made the whole process easy for me."
Mammoth partnered with Red Dog Equity LLC, an Atlanta-based private equity firm, which, through its partnership with Tom Pritzker's family business interests (advised by The Pritzker Organization), has additional equity capital available to fund Mammoth's future acquisitions. Harris Williams advised Mammoth, and Monroe Capital provided debt financing and an acquisition facility to Mammoth.