USA: Percheron Capital to acquire Caliber Car Wash
Caliber’s founders will continue to lead the company as significant equity holders alongside the current management team.
Percheron Capital, a private equity firm focused on partnering with high-quality essential services businesses, has announced that it has signed a definitive agreement to acquire a majority stake in Caliber Car Wash. Founders and Co-CEO’s Mac McCall and Danny York will remain significant equity holders and will continue to lead the company alongside the current management team. Eagle Merchant Partners (“Eagle”), a leading Atlanta-based private equity firm and Caliber’s current financial partner, will retain a minority interest in the company.
“We are pleased to partner with the Caliber team as they continue to build a best-in-class express car wash platform. Consumers are increasingly looking for fast, affordable car wash services without sacrificing quality, and Caliber generates industry-leading membership program participation by offering exceptional customer service and unmatched convenience at a great value,” said Chris Lawler, Co-Founder and Managing Director of Percheron.
“We are thrilled to have found a partner in Percheron Capital whose values and vision of growing our company while maintaining the core tenants that make us great are truly aligned. We believe Caliber is a preeminent business at an inflection point in our growth story, and we are confident that Percheron will provide us with the support and resources we need to accelerate our expansion,” added Mac McCall, Co-Chief Executive Officer of Caliber.
Caliber is dedicated to providing high quality and convenient washes while delivering customer service in an environmentally friendly manner with advanced water reclamation systems and biodegradable wash chemicals. Besides its network in the United States, it has more than 50 express conveyor car washes and pipeline express conveyor car wash facilities in growing markets across the Southeast and Mid-Atlantic.
“We are incredibly proud of our team at Caliber and their passion for providing high-quality, fast and eco-friendly car wash services to our loyal customers. Staying true to our name, our mission is to provide the best possible wash experience and operate at the highest caliber of standards for our customers, employees, and the communities we serve,” stated Danny York, Co-Chief Executive Officer of Caliber.
