Atlantic Street Capital Invests Additional $70M in Zips Car Wash

Zips Car Wash

Atlantic Street Capital, a private equity firm that invests in lower middle market companies through an operationally intensive strategy, made an additional $70M investment in its portfolio company, Zips Car Wash, a Plano, TX-based express tunnel wash company.

The funds will further support its operating strategy, member experience, leadership team, and wash quality.

Zips operates more than 270 locations across 20+ states under three brands: Zips Car Wash, Rocket Express Car Wash, and Jet Brite Car Wash.

Atlantic Street initially invested in the company in 2020 and in 2022 increased its investment by acquiring additional equity from founding shareholders through a continuation fund. Since 2020, the company has acquired new locations, substantially upgraded equipment, simplified monthly membership offerings, improved wash quality, and engaged technology to deliver the best consumer experience.

FinSMEs

10/06/2024