EXTRA! EXTRA! Monroe Capital Supports Mammoth Holdings LLC’s acquisition of Lulu’s Express A March 25 press release stated that Monroe Capital LLC announced an increase in its credit facility to Mammoth Holdings, LLC (“Mammoth”) to support the acquisition of Lulu’s Express (“Lulu’s”). In October 2018, Mammoth partnered with Red Dog Equity LLC, an Atlanta-based private equity firm, which, through its partnership with Tom Pritzker’s family business interests (advised by The Pritzker Organization), provides the equity for Mammoth’s corporate development initiatives. Lulu’s is a six-unit express conveyor car wash operator in Georgia and South Carolina. The addition of Lulu's further expands the Mammoth’s “customer-focused” and “operator-focused” conveyor carwash platform and aligns with the platform’s continued growth strategy, the press release stated. Mammoth’s multi-brand portfolio includes Marc-1, Wash Me Fast, Swifty, Ultra, Finish Line, Wiggy Wash, Shine On, Pit Stop, Fast Trac, and now Lulu's, among others. New self serve car washes for Bath, Maine, and Elmira, New York A car wash is slated to open in Bath, Maine, according to a March 4 Times Record story. Councilors unanimously approved a zoning change that will allow the project, proposed by Trademark Properties LLC, to go forward, the story said. The property needed to be rezoned in order to fit the proposed parking and structure while meeting city setback requirements. The roughly 3,800-square-foot car wash will have both a touch-free car wash, as well as 24-hour self-serve car wash bays, according to Kevin Clark, president of Sitelines, a Brunswick-based civil engineering firm representing Trademark Properties. The project will also add a sidewalk to the property. City Planner Ben Averill said the planning board approved the project earlier this year, contingent on councilors allowing the zoning change. “It would be great to have a car wash in Bath,” Councilor Raye Leonard said in the council’s February meeting, according to the story. “I drive all the way out to Fast Eddie’s in Brunswick, so it would be nice to have something that is both manned and 24-hours in the city of Bath.” Bath has another touch-free car wash at the Big Apple and Citgo gas station off the northbound side of Route 1, about 1,000 feet from the proposed car wash. According to an April 13 WETM story, a new laundromat and self-use car wash is now open in Elmira, New York. Owned by Capriotti Properties, the Madison Suds laundromat has 18 washers and dryers and a 75lb load dryer for comforters and bedding. There are also vending machines and a Pac-Man multicade video game, the story said. Connected to the building are the two self operating carwash bays with vacuums. The laundromat is open every day from 7 a.m. to 10 p.m. and the car wash is open 24 hours a day. Driven Brands Car Wash North America acquires SuperSonic Express Car Wash New antimicrobial product for cars hits the market Driven Brands Car Wash North America announced on February 1 the acquisition of four SuperSonic Express Car Wash locations in Columbus and Starkville, Mississippi, and Tuscaloosa, Alabama. With this acquisition Driven Brands Car Wash North America grew to 17 locations in Mississippi, operating as Car Wash USA Express, and 36 locations in Alabama, operating as Goo-Goo Car Wash. “Our car wash businesses have a long history and strong customer base in the Southern US, and the SuperSonic acquisition further strengthens that network for our services,” commented Driven Brands Car Wash North America President Gabe Mendoza in a press release. “We look forward to building on the SuperSonic team’s success and we thank them for working with Driven Brands for the sale of their business.” SuperSonic Express Car Wash started in 2016 with the acquisition and rebranding of two Mr. Bubbles locations in Mississippi. In 2018, two more SuperSonic locations were added within the existing Mississippi markets, and in 2019 SuperSonic acquired Robo’s Car Wash in Tuscaloosa. Supersonic Managing Partner Caleb Box stated in the press release, “This was our first opportunity to work with Driven Brands and we are extremely satisfied with the results. The communication and the process was very smooth from contract to closing, but we’re mostly excited about the opportunities that our team members now have with their own personal and business growth trajectory inside the Driven Brands organization.” Driven Brands entered the car wash industry in 2020 with the acquisition of International Car Wash Group. Driven Brands Car Wash operates over 900 locations in 14 countries across US, Europe and Australia, with over 200 locations in the United States. The Company was founded in Germany in 1965 under the IMO brand, the name still used at its non-US locations. Driven Brands Car Wash is a member of Driven Brands, the largest automotive services company in North America, the press release stated. To reinforce its pledge to deliver long-term solutions to more sustainable vehicle hygiene, mobile vehicle care leader RideKleen introduces PureProtect 365, a new antimicrobial solution delivering guaranteed odor control for up to one year, according to a March 8, 2021, press release. PureProtect 365 by RideKleen features an XMicrobe solution from Xzilon® that offers a lasting biostatic layer that punctures the thin lipid exterior of odor causing germs, viruses and bacteria, neutralizing threats that land on treated surfaces. The PureProtect 365 product also protects against stains from spills, grease, dye transfer and UV fading, and leaves the surface easier to clean. "RideKleen's charge to rethink clean extends beyond the current pandemic," said Pratik Patel, president of RideKleen in the press release. "With a focus on the customer experience, we're equipping vehicle owners, fleet operators and other mobility service providers with the now-essential sanitization and disinfection solutions to drive consumer confidence and overall vehicle safety." According to the Cox Automotive 2020 Cox Automotive COVID-19 Consumer Impact Study, nearly half of vehicle shoppers (47%) are willing to pay for extended sanitization services. This could mean more revenue for automotive dealers, as well as car wash operators offering this enhanced level of service, the press release stated. 34 • SPRING 2021
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