- Ropes & Gray acted as legal advisor to Super Star Car Wash while Quarles & Brady acted as legal advisor
- Ardent Advisory Group acted as sole financial advisor to Wave Wash
- Since its founding in 1986, TSG has been an active investor in the consumer industry
Super Star Car Wash, which is backed by TSG Consumer Partners, has acquired Wave Wash, an express conveyor car wash operator serving the Dallas Fort-Worth Metroplex. With this acquisition, Super Star Car Wash will have 17 operating locations in the DFW market by the end of 2022 and a growing development pipeline. No financial terms were dislcosed.
Super Star Car Wash is a car wash operator.
Founded in 1997 by Frank and Karen Meneghetti, Wave Wash owns and operates eight express conveyor car washes across the DFW Metroplex.
“We are excited to join the Super Star Car Wash family and grow our deep and loyal customer base,” said Frank Meneghetti, founder and president of Wave Wash, in a statement. “The team at Super Star Car Wash has proven to be successful, innovative operators that share our commitment to providing high-quality services and experiences to customers and local communities, and we look forward to our partnership.”
The transaction follows TSG’s investment in Super Star Car Wash in December 2021. Since TSG’s investment, Super Star Car Wash has grown from 35 to 61 locations, expanding its presence from two to four strategic markets, including Los Angeles and the DFW Metroplex, and the company expects to open its fifth market in Colorado later this year.
Ropes & Gray acted as legal advisor to Super Star Car Wash. Quarles & Brady acted as legal advisor and Ardent Advisory Group acted as sole financial advisor to Wave Wash.
Super Star Car Wash is headquartered in Phoenix.
Wave Wash is a family-owned business based in Dallas-Fort Worth, Texas, with eight express car wash locations in the area.
Since its founding in 1986, TSG has been an active investor in the consumer industry.