Point72 Hyperscale has acquired a majority stake in Tsunami, a car wash business. No financial terms were disclosed.
MENLO PARK, Calif.–(BUSINESS WIRE)–Point72 Hyperscale, the private equity strategy that uses applied artificial intelligence to build and modernize market-leading companies, today announced it has acquired a majority stake in Tsunami, a car wash business specializing in express services with sites in the Midwest United States. The partnership with Point72 Hyperscale will enable Tsunami to expand its geographic presence and leverage data and modern analytics to enhance pricing models, marketing and customer retention rates.
Started in 2017, Tsunami is built on its founders’ 20 years of experience in the car wash business and specializes in express exterior car washes, which is the fastest growing segment in the quickly expanding $12 billion U.S. car wash market1. Point72 Hyperscale’s “Foundry” team of data scientists, engineers, and product managers will work with Tsunami to leverage data and integrate new technology into their business operations.
“We focus on identifying industries that are ripe for disruption and invest in data-rich companies where applied AI can help provide superior products and services,” said Dan Gwak, Managing Partner, Point72 Hyperscale. “We were impressed by Tsunami’s management team and believe they are well positioned to set a new industry standard for customer service and retention. We look forward to working with them to modernize and grow their business.”
“We’re looking forward to working with Point72 Hyperscale and their Foundry team of technical experts to help us take full advantage of our business’ data and analytics to improve customer acquisition, engagement and retention,” Chris Schuldt, CEO of Tsunami, said.
In addition to using state-of-the-art equipment and high-quality products designed to give their customers a thorough and safe wash experience, Tsunami is also committed to conserving natural resources. Water is filtered and recycled on-site to reduce waste, and the company only uses products that are biodegradable and avoids harsh chemicals that can harm vehicles and the environment.
About Point72 Hyperscale
Point72 Hyperscale is a private equity strategy that uses applied artificial intelligence to drive transformational change in an effort to create value and build market-leading companies. Comprised of investment and technical specialists, the team focuses on identifying and investing in industries and companies where applied AI can help provide superior products and services and multiply the power of the workforce. With offices in New York and Silicon Valley, Point72 Hyperscale is an affiliate of Point72, the global asset manager founded by Steven A. Cohen. For more information, visit p72hyperscale.com.