Mammoth Holdings, a car wash operator backed by Red Dog Equity, has acquired Papa’s Express Tunnel Car Wash.
Papa’s operates an express conveyor car wash in Saratoga Springs, Utah. The business was founded by Mark Philipp and his family in 2017.
Atlanta-based Mammoth is an investor in and operator of 44 express conveyor car washes and 3 flex service car washes in Utah, Illinois, Kentucky, Tennessee, Georgia, Louisiana, Mississippi, and Alabama. The company was founded in 2002 by CEO Gary Dennis and CFO Chip Hackett and is the 8th largest conveyor car wash operator in the United States according to Commercial Plus’s Top 100 list.
Mammoth’s brands include Finish Line Car Wash, Marc-1, Pals, PitStop, Quick Wash, Shine On Express, Swifty, Ultra, Wash Me Fast, Wash Time Express and Wiggy Wash.
“Papa’s will expand our presence in the Utah County area and fits our existing footprint well,” said Mr. Dennis. “Mammoth will now have five stores in the area providing our customers and unlimited wash club subscribers with expanded wash options.”
In October 2018, Mammoth partnered with Red Dog Equity, which, through its partnership with Tom Pritzker’s family business interests (advised by The Pritzker Organization), provides the equity for Mammoth’s corporate development initiatives. Monroe Capital provides Mammoth’s debt financing.
Atlanta-based Red Dog Equity invests in lower middle-market companies that have from $2 million to $20 million of EBITDA. Sectors of interest include light manufacturing; industrial, environmental, business and consumer services; specialty distribution; retail medical; and restaurants.
© 2020 Private Equity Professional | November 4, 2020