WhiteWater Express Car Wash has acquired Jerry’s Express Car Wash, a car wash chain. No financial terms were disclosed. In connection with transaction, SkyKnight Capital will invest in WhiteWater.
HOUSTON–(BUSINESS WIRE)–WhiteWater Express Car Wash (“WhiteWater”), an express car wash platform headquartered in Houston, TX announced the acquisition of Jerry’s Express Car Wash (“Jerry’s”) on Friday, December 18th. Jerry’s has 7 locations across the Dallas-Fort Worth market and has been a leading express car wash provider in the market for over a decade.
The acquisition of Jerry’s brings WhiteWater to 16 locations in the DFW market, 50% higher than the next largest competitor. WhiteWater now has 27 locations in operation with two sites in Houston and Austin opening in January for a total of 29 locations. WhiteWater is excited to continue to offer its signature unlimited membership program, towel exchange program, vacuums, and air guns at all locations.
“It was a true honor to receive the call from Jerry that he was interested in selling his business to our WhiteWater family,” stated Clayton Clark, President and Chief Operating Officer of WhiteWater. “Jerry’s is one of the most respected car wash companies in the industry and we are excited to create opportunities for the Jerry’s team to grow.”
“Jerry’s Express is pleased to join the WhiteWater Team,” said Jerry Miller, President of Jerry’s Express Car Wash. “It was important to us in considering a sale that we would find an acquisition partner that aligned with our company culture and offered opportunity with integrity for our staff. WhiteWater was able to close within 75 days of our first meeting in spite of the challenges that we all faced in 2020.”
As part of the acquisition, WhiteWater will be onboarding all of Jerry’s employees including Operations Director Doug Cookston.
WhiteWater has also named Gregg Murry as Executive Vice President of Real Estate. Murry brings over 35 years of experience in real estate and construction. Murry was previously Vice President of Real Estate at Service King Collision Repair where he built and led a team that was responsible for the development, construction, conversion, and management of Service King’s real estate portfolio that grew from 55 locations to more than 330 during his tenure. Murry also founded his own commercial construction and development firm that focused on single tenant projects and developments, with a focused specialization on automotive. Murry will be leading real estate, construction, and facilities efforts for WhiteWater.
In connection with the Jerry’s transaction, SkyKnight Capital will invest incremental capital into WhiteWater. “Steve and Clayton have done an exceptional job leading WhiteWater, and we look forward to supporting them in this next phase of accelerating growth,” said Jordan Milich of SkyKnight. “The partnership created by WhiteWater and SkyKnight has been exceptional, and we are thrilled to work alongside the full WhiteWater organization in our pursuit of building the best-in-class, fully integrated express car wash platform.”
About SkyKnight Capital
Founded in 2015, SkyKnight Capital manages over $1.5 billion in private equity capital on behalf of leading institutional family offices, foundations, and endowments. SkyKnight makes long-term investments into high quality businesses in acyclical growth sectors alongside exceptional management teams. More information is available at www.skyknightcapital.com.