USA: Mint Eco Car Wash announces $150mn expansion plan

Initial plans include 20 washes before year end 2024 and a portfolio of 50 washes in Palm Beach County before 2030.

Mint Eco Car Wash announced a capital raise that provides the operator a total equity capital of $50 million. This capital will allow Mint Eco to invest over $150 million in acquiring and developing car washes in Palm Beach County.

Initial plans include 20 washes before year end 2024 and a portfolio of 50 washes in Palm Beach County before 2030.

"We believe that car washes can be beautiful, car washes can be environmental leaders, car washes can support their local communities, car washes can develop trust and loyalty with customers, and the list goes on,” says Geoffrey Jervis, Co-Founder and CEO of Mint Eco.

Mint Eco's current portfolio is comprised of three car washes that it acquired, extensively renovated and rebranded. Continued growth will come from a combination of additional acquisitions, as well as the ground up development of new sites. To date, Mint Eco has secured six properties for development, and is pursuing an additional 300+ existing washes and development sites in the County.

Mint Eco sites will incorporate the latest eco-friendly renewable energy and water saving technologies, in continued pursuit of its environmental promise, according to the company.