Roark Capital Group closes acquisition of world’s largest car wash operator

An affiliate of Roark Capital Group has closed the acquisition of United Kingdom-based International Car Wash Group (ICWG) from TDR Capital LLP.

ICWG washes more than 35 million cars every year in more than 900 locations in 14 countries in Europe, United States, and Australia, according to the company.

The company´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.

Roark Capital Group, meanwhile, is an Atlanta-based private equity firm focused on the retail, restaurant, consumer, and services sectors.

"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.

ICWG operates under the IMO banner in Europe and Asia-Pacific. In the U.S., it operates under the banners of Car Wash USA Express, Goo-Goo, Zippy's, Car Wash Express, and Supersonic Car Wash.  

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."