Mr. K Car Wash Joins Atlanta-based Mammoth Holdings
Friday, August 21st, 2020
Mammoth Holdings, LLC ("Mammoth"), an Atlanta-based conveyor car wash operator, has acquired Mr. K Car Wash ("Mr. K"), an express conveyor car wash in Montgomery, Alabama.
Gary Dennis, Mammoth's co-founder and CEO, explained, "The Mr. K acquisition expands Mammoth's footprint in one of our core markets." He added, "Mammoth will now have two stores in the Montgomery area providing our customers and unlimited wash club subscribers with expanded wash options."
Mammoth is the first car wash acquisition platform formed by industry-insiders and is the 8th largest conveyor car wash operator in the United States. Mammoth is customer-focused operationally and operator-focused in its approach to acquisitions and seeks to be the partner-of-choice for car wash operators who desire liquidity, growth capital, and a tax-deferred equity investment opportunity. Mammoth's multi-brand portfolio includes Marc-1, Wash Me Fast, Swifty, Ultra, Finish Line, Wiggy Wash, Shine On, and PitStop, among others. Mammoth has significant growth capital at its disposal and is actively seeking acquisitions and development opportunities.
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. Monroe Capital provides Mammoth's debt financing.
Christina Son, a leading car wash broker, advised the seller on the transaction.
