Sentinel Capital Partners said Dec. 5 that it has invested in Sonny’s Enterprises Inc through a recapitalization. Financial terms weren’t announced. Sonny’s, of Tamarac, Florida, makes conveyorized car wash systems.
NEW YORK, December 5, 2016 – Sentinel Capital Partners, a private equity firm that invests in promising companies in the lower end of the middle market, today announced the recapitalization of SONNY’S Enterprises, Inc., the worldwide leader in conveyorized car wash systems. Terms of the deal were not disclosed.
Established in 1949, SONNY’S is the largest global manufacturer of conveyorized car wash systems.SONNY’S designs and manufactures car wash systems in its 135,000 sq. ft. facility in Tamarac, Florida and will continue to be managed by the same family that has run the business since its inception.
“SONNY’S is a leading car care platform with strong development and design capabilities, a record of innovation, and unparalleled customer relationships,” said Scott Perry, a partner at Sentinel. “SONNY’S offers an impressive breadth of products and has built longstanding sales relationships and distribution channels throughoutNorth America. We are very excited about this investment and the opportunity to partner with SONNY’S outstandingmanagement team. We see a bright future for SONNY’S, which has an exciting opportunity to grow organically and through acquisitions.”
“SONNY’S will continue to execute on the vision and plan that my father set for the company…to be the premier provider of car care products to car wash professionals,” said CEO Paul Fazio. “Sentinel was very different from any other firm that contacted me in the past. From the first conversation, it was clear that a partnership with Sentinelwill allow SONNY’S to accelerate its rapid growth recordand to expand the number of worldclass products and services to our clients.”
The past 12 months have been highly productive for Sentinel. Besides SONNY’S, Sentinel has made four other new platform investments: Quick Weight Loss Centers, a multistate provider of highly differentiated weight loss management services; Revenew International, a leading provider of cost recovery and cost containment services;The Luminaires Group, a leading North American manufacturer of specification-grade lighting products; andMarketplace Events, a business services company that is the largest operator of consumer home and garden shows in North America.
About Sentinel Capital Partners
Sentinel Capital Partners specializes in building and acquiring businesses at the lower end of the middle market in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of up to $65 million. Sentinel also invests in special situations, including balance sheet restructurings and operational turnarounds. For more information about Sentinel, visitwww.sentinelpartners.com.
About SONNY’S Enterprises, Inc.
SONNY’S Enterprises, Inc. is the largest manufacturer of conveyorized car wash equipment, parts, and supplies in the world. Forward thinking professional car wash investors and owner/operators partner with SONNY’S because of our total offering, leadership, and expertise. SONNY’S education and software products support operator profitability and our conveyorized car wash innovations, parts, and supplies keep clients’ businesses growing. For more information about SONNY’S, visitwww.sonnysdirect.com.