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Miami-based El Car Wash, with one location in Naples and one in Fort Myers, is expanding in Southwest Florida with an acquisition.
The company bought Suncoast Express Car Wash on Cleveland Avenue in Fort Myers, according to a statement. Financial terms of the acquisition weren’t disclosed. El Car Wash, according to a statement, also acquired Sweetwater Car Wash Dr. Phillips in Orlando.
El Car Wash, which completed a recapitalization with private equity giant Warburg Pincus in 2022, says “significant investments are being made to enhance both the Suncoast and Sweetwater sites."
“We are thrilled to further strengthen our position in key markets while remaining consistent with our M&A strategy of entering adjacent markets by purchasing the premier operators in advance of aggressive greenfield rollout of similarly high-quality locations,” co-CEOs Geoffrey Karas and Justin Landau say in the statement.
El Car Wash says it has over 200,000 members, with plans to expand into Michigan in summer 2024. The company is the official car wash of the Miami Heat and the Florida Panthers.
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