Generation Growth Capital acquires Harrell's Car Wash Systems
Generation Growth Capital Inc. acquires one of the USA’s largest distributors of carwash systems.
Generation Growth Capital Fund III, LP (GGC), a Milwaukee-based private equity firm that invests in lower middle market companies, announced the acquisition of Harrell’s Car Wash Systems Inc. from its founder, Mark Harrell, reports Professional Car Washing & Detailing.
Based in Indianapolis, Harrell’s is one of the nation’s largest distributors of carwash systems and supplies.
Founded over 38 years ago as a carwash, the company has grown into a full service distributor that provides site evaluation, design and development assistance, equipment solutions and a full line of chemical and parts supply to customers located across Indiana, Illinois, Kentucky and Ohio.
“Harrell’s represents a great investment opportunity for GGC. From our first meeting with Mark and his team, it was evident that this was a great cultural fit. We are investing in a business with a solid management team and a great market reputation that is positioned for growth in this industry,” said John Reinke, managing director of Generation Growth Capital Inc.
Chad Tearman, the general manager of Harrell’s, will be taking over as the company CEO.
