Mammoth Holdings LLC, which is backed by Red Dog Equity LLC, has acquired PitStop Carwash, a five-unit express conveyor car wash operator in Alabama, Mississippi, and Louisiana. No financial terms were disclosed.
ATLANTA, June 9, 2020 /PRNewswire/ — Mammoth Holdings, LLC (“Mammoth”), an Atlanta-based conveyor car wash operator, has acquired PitStop Carwash (“PitStop”), a five unit express conveyor car wash operator in Alabama, Mississippi, and Louisiana. PitStop’s founders, Steve Schmidt and Brian Hill, made a significant equity investment in Mammoth and will have ongoing developmental roles with the company.
Gary Dennis, Mammoth’s co-founder and CEO, explained, “PitStop will expand our presence on the I-10 corridor and overlaps nicely with our existing operations in Alabama.” He added, “We’re also pleased to have new development partners who are high quality people who will help us expand our operations in the Southeast and offer Mammoth’s customers more options.”
Steve Schmidt stated, “Nothing reveals character like difficult times.” Schmidt continued, “The Mammoth team kept all their commitments to us even though we agreed to our deal before the COVID lockdowns. These guys keep their promises.”
“We love what Mammoth is doing and are excited to be partners with them,” said Brian Hill. He continued, “Mammoth is a unique opportunity for car wash operators like Steve [Schmidt] and me, and they listened to us carefully and structured a deal that addressed all of our issues.”
Mammoth is the first car wash acquisition platform formed by industry-insiders and is tied for the 7th largest conveyor car wash operator in the United States according to Commercial Plus’s Top 100 list. Mammoth is customer-focused operationally and operator-focused in its approach to acquisitions and seeks to be the partner-of-choice for car wash operators who desire liquidity, growth capital, and a tax-deferred equity investment opportunity. Mammoth’s multi-brand portfolio includes Marc-1, Wash Me Fast, Swifty, Ultra, Finish Line, Wiggy Wash, Shine On, and now PitStop, among others. Mammoth has significant growth capital at its disposal and is actively seeking acquisitions and development opportunities.
In October 2018, 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), provides the equity for Mammoth’s corporate development initiatives. Monroe Capital provides Mammoth’s debt financing.
About Mammoth Holdings
Headquartered in Atlanta, Georgia, Mammoth Holdings operates 44 conveyor car washes under the Marc-1, Swifty, Ultra, Wash Me Fast, Wiggy Wash, Pals, Finish Line, Shine On, and QuickWash Express brands in Georgia, Alabama, Kentucky, Illinois, Utah, and Tennessee. Mammoth was founded by Gary Dennis and Chip Hackett in 2002. To learn more, please visit one of our locations or see us online at: www.mammothholdings.com.
PitStop operates express conveyor car washes in Slidell, Louisiana, Gulfport and Waveland, MS, and Fairhope and Foley, Alabama. PitStop was founded by Steve Schmidt and Brain Hill in 2005. To learn more, please visit a PitStop location or see us online at: www.acleancarfast.com
About Red Dog Equity LLC
Red Dog Equity LLCTM is a private equity firm that invests in lower middle-market companies poised for strong growth in partnership with driven, entrepreneurial business leaders (“Red Dogs”). To learn more, please visit: www.reddogequity.com.
About The Pritzker Organization
The Pritzker Organization is the merchant bank for the business interests of the Tom Pritzker family. Additional information can be found at www.pritzkerorg.com.