Roark Capital Group, an Atlanta-based private equity firm focused on multi-unit consumer businesses, announced that its affiliate has closed on the previously announced acquisition of UK-based International Car Wash Group from TDR Capital LLP.

ICWG is the largest car wash operator in the world, washing more than 35 million cars every year through more than 900 locations in 14 countries across Europe, the United States, and Australia. Founded in Germany in 1965, the Company has solidified its position as the international market leader, developing an extensive network of more than 750 car wash locations across Europe and more than 100 car wash locations in the U.S. ICWG's focus on express-service style operations appeals to a broad base of consumers seeking a quick and high quality wash at an affordable price.

"We are excited to partner with Roark, an experienced investor in growing multi-unit businesses, to help us accelerate ICWG's growth," said Mike Smith, Executive Chairman of ICWG. 

Bill Derwin, CEO of ICWG, said, "Roark brings a deep understanding of the consumer and an operational expertise that complements our business.  We are delighted to be a part of the Roark family."

Ezra Field, Senior Managing Director and Chief Investment Officer at Roark, said, "ICWG's quick conveyor car wash model provides high-quality washes at an affordable price point that is attractive to today's consumers who demand convenience and value."

Matt Kaelin, Managing Director at Roark, added, "We are looking forward to working with Mike Smith, Bill Derwin, and the rest of the management team to continue to build the business."

With the acquisition of ICWG, affiliates of Roark have acquired 61 multi-unit brands which combined generate annual system revenues of approximately $25 billion from 28,000 locations in 50 states and 78 countries.