Susquehanna Private Capital has launched LUV Car Wash, a nationwide express car wash platform. No financial terms were disclosed for the transaction that was done in partnership with Darren Skarecky and JT Thomson.
PHOENIX, Nov. 15, 2021 “The express car wash industry has amazing momentum and we are very excited about launching this new brand,” said Kyle Squillario, Co-Head and Partner at Susquehanna Private Capital. “We see significant growth potential in building a national platform that is focused on elevating the customer experience and increasing operational efficiencies. We are delighted to be teaming up with such seasoned leaders as Darren and JT to launch this company together.”
Skarecky will serve as CEO and Thomson will be President and Chief Development Officer for LUV Car Wash. Headquartered in Gilbert, Arizona, the company plans to invest heavily in building out its corporate infrastructure to support its future growth. LUV Car Wash expects to deploy a multi-pronged growth strategy focused on acquisitions, partnerships and new site build outs.
“Darren and I love the car wash industry and plan to leverage our track record in this segment to create an amazing car wash company,” Thomson said. “Our focus will be on teamwork and having fun while creating a great guest experience.”
“We are excited to partner with Darren and JT and have been impressed with the level of professionalism and sophistication they bring to the highly fragmented car wash industry,” said John McGinley, Vice President at Susquehanna Private Capital. “We look forward to supporting LUV Car Wash as the company continues to expand throughout the nation.”
The all-new concept has its sights set on aggressive development and expects to open its first locations in Florida and Georgia by next month. Additional locations in five markets are anticipated to follow in the next 90 days.
To learn more about LUV Car Wash, visit LUVCarWash.com.
About LUV Car Wash
Founded in 2021 and headquartered in Gilbert, Arizona, LUV Car Wash is a nationwide express car wash platform focused on enhancing the customer experience. Through its aggressive, multi-pronged growth strategy, the company plans to expand across the country, starting with locations in Florida and Georgia in 2021. For more information about LUV Car Wash, visit LUVCarWash.com.
About Susquehanna Private Capital
Susquehanna Private Capital was founded in 2016 and is funded by the founders of Susquehanna International Group, LLP, which is one of the world’s largest privately held financial services firms. With its flexible approach to investing, SPC partners with founders, entrepreneurs, and operators to build businesses with enduring value. SPC targets companies in the U.S., Europe and Israel in the business services, consumer and franchise services, healthcare services, and industrial technology sectors with $3 million to $15 million in EBITDA.