USA: Mister Car Wash acquires The Speedwash’s Victor Valley portfolio
A total of four sites were bought from the company established in 2009 and founded by Fred Simab and Pedram Fararooy.
The Speedwash has sold four express exterior carwash locations in Victor Valley to Mister Car Wash. The news broke out after PetroCal Associates, a real estate firm, announced it after partnering with the former to monitor the sale.
First established in 2009, The Speedwash is a premier express carwash brand of the High Desert. After building their first site in Victorville, founders Fred Simab and Pedram Fararooy expanded The Speedwash to Hesperia in 2015 and subsequently opened two additional locations in Victorville in 2020.
"PetroCal Associates was instrumental in orchestrating our growth and expansion plans spanning multiple years, from arranging construction financing for our development projects to advising us on our recent exit. With their industry knowhow, they approached us about exploring a sale when the timing was right and they were the only company we'd trust to represent us in a sale given their honesty, reliability, connectedness within the industry, and reputation," said Fred Simab Co-founder of The Speedwash.
"The Speedwash portfolio is a model for a regional car wash chain. The sites are architecturally gorgeous and functionally optimised for high volume. They are strategically spaced from each other conveniently serving the High Desert communities. Fred and Pedram built something special and we are proud of what we were able to deliver for our long-time clients," added Reuven Birnkrant, CEO of PetroCal Associates.
