- Ultimate Shine Car Wash was formed in 2005
- Spotless’ portfolio now includes 120 units across Arizona, Colorado, Oklahoma, Washington, D.C., Virginia, West Virginia, Tennessee, and Maryland
- Access Holdings has over $2.1 billion in assets under management
Spotless Brands, a portfolio company of Access Holdings, has closed its investment in Ultimate Shine Car Wash, a car wash operator in Tennessee, West Virginia, and Virginia. No financial terms were disclosed.
On the transaction, Russ Reynolds, CEO of Spotless, said in a statement: “We are excited to partner with Ultimate Shine. After extensive research into the car wash industry, we have identified Ultimate Shine as an operator uniquely positioned to expand its footprint both within its existing markets as well as into new markets. Spotless looks forward to providing the resources to expand, enhance its services, and maintain Ultimate Shine’s position as the premier car wash operator of choice.”
Ultimate Shine Car Wash was established in 2005 by David Wild and operates 17 locations across eastern Tennessee, Virginia, and West Virginia.
The partnership aims to grow Ultimate Shine’s business to over 50 locations by 2023.
Spotless’ portfolio now includes 120 units across Arizona, Colorado, Oklahoma, Washington, D.C., Virginia, West Virginia, Tennessee, and Maryland via its market-leading brands, Cobblestone Auto Spa, Okie Express Auto Wash, Flagship Car Wash, and Ultimate Shine Car Wash.
Access Holdings formed Spotless Brands in 2019.
Access Holdings Management Company LLC is a Baltimore-based middle-market investment firm with over $2.1 billion in assets under management, according to the firm. Access was founded in 2013.