Wildcat Capital Management Backs Rapid Express Car Wash; Forms 5th Largest Car Wash Group in the US

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Jan 18, 2022, 12:06 ET

AUSTIN, Texas and NEW YORK, Jan. 18, 2022 /PRNewswire/ -- Rapid Express Car Wash today announced a significant investment from Wildcat Capital Management to continue its expansion across Austin, San Antonio, and surrounding markets. Rapid Express currently operates 17 car wash sites in Central and South Texas, and is developing an additional 25 sites in its core geographies. With the investment, Rapid Express joins Club Car Wash and Express Wash Concepts (EWC) as Wildcat-backed car wash companies, representing the fifth largest car wash platform nationwide.

"Wildcat represents a unique partner for Rapid in the next stage of growth, having already partnered with and helped scale two of the top companies in the industry," said Ahmed Jafferally, CEO of Rapid Express. "We are confident this partnership will lead to significantly faster growth while maintaining the high standard of quality we provide to our customers."

"We are very pleased for Rapid Express to join the Wildcat family," said Drew Tarlow, Managing Director at Wildcat Capital Management. "We have been fortunate to partner with Rollie Bartels, CEO of Club Car Wash, and John Roush, CEO of EWC. They have delivered incredible financial results but equally importantly have created happy customers, developed substantial internal operating infrastructure, and built lasting brands. We believe big things lie ahead for Club and EWC, and Rapid Express's high-quality units and development-first philosophy make for a perfect fit."

"We are excited to welcome Rapid Express to our group," said John Roush, CEO of Express Wash Concepts. "EWC has grown by nearly 400% over the past three years all while maintaining our promise of quality to our customers – we are confident Rapid Express will have a similar story."

"Ahmed and Rapid Express understand the importance of high-quality locations and we hope to impart of some of what we've learned in building out best in class infrastructure as they grow," noted Rollie Bartels, CEO of Club Car Wash.

In the aggregate, the three companies operate over 130 sites today with plans to add an additional 150 sites over the next two years.

"Wildcat continues to pursue its strategy of partnering with the highest quality, development driven operators in different regions of the country," explained Tarlow. "Our partners, including Mr. Jafferally, own meaningful equity in their businesses and comprise a network of some of the best operators in the industry."

MidCap Financial provided financing as part of the transaction. Amplify Advisors advised Rapid Express on the transaction. Winston & Strawn LLP served as counsel to Wildcat Capital Management.

About Rapid Express Car Wash:
Rapid Express Car Wash was founded in 2011 in Houston, Texas. Today, Rapid has grown to manage 17 express car wash locations throughout Austin, San Antonio, South Texas, Houston and surrounding communities. Rapid Express Car Wash has plans to continue to scale rapidly through greenfield development and acquisition. For more information about acquisitions throughout Texas, please contact Ahmed Jafferally at [email protected]. For more information about Rapid Express Car Wash, please visit: www.rapidexpresscarwash.com.

About Wildcat Capital Management:
Wildcat was established in 2011 as a single-family investment office. Today, Wildcat manages in excess of $4.5 billion for a small group of ultra-high net worth individuals. The firm has a long term, flexible family-office-driven approach. Wildcat seeks to partner with leading private consumer, business services, software, healthcare, and technology-enabled companies. In addition, Wildcat has both a public markets investment team and a value-add and opportunistic real estate investment team. For additional information please contact [email protected].

About Express Wash Concepts:
Express Wash Concepts is the parent company of 60+ award winning, express car wash locations throughout Ohio, Indiana, Pennsylvania and Virginia under the following brands: Moo Moo Express Car Wash, Flying Ace Express Car Wash, Clean Express Auto Wash, Meyers Auto Wash, Green Clean Express Auto Wash, Snazzy's Express Car Wash and Bee Clean Express Car Wash. For more information, please visit www.expresswashconcepts.com.

About Club Car Wash:
Founded as Tiger Express Car Wash in 2006, the company rebranded to Club Car Wash in 2019. Currently operating more than 57 locations in Missouri, Kansas, Illinois, Iowa, Nebraska, and Oklahoma, Club Car Wash is one of the largest and fastest growing express car wash companies in the Central United States. Club Car Wash has plans to scale rapidly into Arkansas, Kentucky, Tennessee, Colorado, Texas, and Wisconsin through acquisitions and new developments. For more information about acquisitions, please contact Justin Barnes at [email protected]. To learn more about Club Car Wash, please www.clubcarwash.com.