BlackArch Partners Advises Zips Car Wash on Growth-Focused Partnership with Atlantic Street Capital
Founded in 2003 by Brett Overman, Zips Car Wash, LLC ("Zips Car Wash," “Zips” or the "Company") is the largest and fasting growing express-only car wash operator in the United States. Since its inception, both through acquisitions and greenfield developments, Zips has strategically evolved and scaled its platform to over 185 locations across 17 states. As an industry-leader in innovative offerings, the Company pioneered the express format car wash subscription model, leading to a growing proportion of recurring revenue and customer stickiness. Headquartered in Little Rock, AR, Zips has over 1,400 employees. For more information, please visit the Company’s website at www.zipscarwash.com.
Zips Car Wash has received a growth-equity investment from Atlantic Street Capital. With the support of Atlantic Street Capital’s premier operating network and resources, Atlantic Street Capital will facilitate the expansion of Zips’ national platform and continue to build the Zips brand, both organically and through acquisitions. Mr. Overman, Zips’ founder and Chief Executive Officer, will maintain a substantial ownership stake in the business. BlackArch Partners was retained by Zips Car Wash to serve as its exclusive financial advisor.
BlackArch leveraged its end-market expertise and knowledge of subscription service business models to identify a “best fit” partner for Mr. Overman and the Zips shareholders. BlackArch navigated another founder-owned business through the identification of their goals and objectives, designing and executing a process to achieve those goals and then successfully supporting the team from start to finish. The investment by Atlantic Street Capital in Zips continues BlackArch’s unrivaled car wash transaction experience and business model knowledge that spans through every piece of the sector value chain.
“BlackArch’s ability to identify with and tell our story was exceptional and front and center throughout our entire engagement. In addition, understanding and helping us navigate both the economic AND the non-economic elements of a transaction were equally important. Putting those together with simply being good people that cared for our business and our employees as if the business was their own is why we will be friends for a lifetime. The entire BlackArch team ensured Zips found the best partner to help it scale during this next stage of growth and we are very excited about the future.”
- Brett Overman, Founder and Chief Executive Officer, Zips Car Wash “We would not have found the right partner for our business without the BlackArch team. Their doggedness, intelligence and work ethic shined through at every stage of the process. We are grateful to have had BlackArch by our side, as their expertise and guidance was the keystone to making this deal happen.”
- George Huber, Zips Car Wash Board Member
About BlackArch Partners
BlackArch Partners is a leading middle-market investment bank offering a full spectrum of advisory services to financial sponsors, private companies and diversified corporations. BlackArch addresses the needs of owner-operators, founders and shareholders of private companies with specialized services that include M&A advisory, strategic advisory and private capital solutions. Headquartered in Charlotte, North Carolina, BlackArch features a total of 12 industry-focused practices that cover all sectors of interest to middle-market investors; BlackArch professionals have closed more than 350 transactions in 16 countries on four continents. For more information, visit www.blackarchpartners.com.
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