Ardent Advisory Group, the leading M&A advisor to privately owned car wash businesses, is pleased to announce the sale of Coates Car Care to Steel City Wash LLC, operating as Mr. Magic Car Wash.
Located in Niles, Ohio, Coates Car Care was founded in 1959 by James Coates, Sr., and has been a fixture in the Northeastern Ohio region for 65 years. More recently, Coates Car Care was owned by James Coates, Jr., who managed the business alongside his sons James Coates III and Jacob Coates. James and Jacob will remain with the business as part of the Mr. Magic Car Wash management team.
Jim Coates shared his thoughts on Ardent Advisory Group and the process: “Ardent Advisory Group has been a joy to work with. Trusting someone with your family’s legacy and life’s work is not an easy thing to do. Chris Collins and his team built that trust and allowed us to feel extremely confident in their abilities to represent our business and our family in this transaction. The Ardent team treated this deal as if it were their own business and worked diligently to find not only the best deal, but the right deal for us. Without the expertise of the team at Ardent, this deal would not have been possible. Our family is forever grateful for their hard work, dedication and professionalism. If given the opportunity, I would gladly choose Ardent again.”
According to Mr. Magic Car Wash, “This acquisition marks a significant expansion into the Ohio market and aligns with Mr. Magic Car Wash’s vision of providing premium car care services to a broader customer base as part of its continued growth strategy. With this acquisition, Steel City Wash LLC adds six new locations in Niles, Austintown, Cortland, Howland, Boardman, Ohio, and Hermitage, Pennsylvania. This expansion brings the total number of Mr. Magic Car Wash locations across Western Pennsylvania, West Virginia, and Ohio to 23.”
Chris Collins, Managing Director of Ardent Advisory Group, shared his thoughts: “We are very pleased to have had the opportunity to represent the Coates family in their sale of Coates Car Care to Mr. Magic Car Wash. Coates Car Care is an outstanding business, and the Coates family was an absolute pleasure to work with. In addition, the teams at Mr. Magic Car Wash and Incline Equity were extremely professional and committed to consummating the acquisition in a timely and efficient manner. We wish all of the parties our best moving forward, and we are confident that the newly consolidated business will be a leading competitor in the Western Pennsylvania, Northeastern Ohio and West Virginia car wash industries for years to come.”
