BlueWave Express ("BlueWave") and ClearWater Express Wash ("ClearWater") today announced a strategic alliance of their respective portfolios of express car wash locations. The companies will partner with CarWashKing to form an integrated management team and combine operations to become the largest independent owner, operator, and developer of express car washes in Texas. On a combined basis, the companies currently operate 50 locations and expect to have 65 locations open by the end of 2023 and 100 locations open by the end of 2024 in the Houston, San Antonio, Rio Grande Valley, DFW, and Northern California markets.

Guests of both companies will benefit from having access to a larger number of membership locations, with the ClearWater facilities and membership benefits migrating to the BlueWave brand and membership network over the coming months. In addition, Management plans to initiate an investment program across existing locations that will include the upgrade of facilities and equipment, the implementation of new amenities, and the sharing of best practices among the companies. Team members will also benefit from more diverse growth opportunities across the combined platform.

Bill Poland commented, "This exciting new partnership will allow BlueWave to grow in a bolder and more ambitious way than we ever could have imagined when we started this journey over 15 years ago. BlueWave has consistently been a leader in the industry in delivering the highest quality eco-friendly washes to our guests, and we are excited to welcome Terral, Vinny, and their teams as some of the most well-respected operators in the industry to the BlueWave family."

Vinny Carfora said, "CarWashKing's management operations are renowned throughout the industry for achieving record membership counts, AUVs, and margins across our owned and managed sites. We are excited to bring our expertise to help make BlueWave and ClearWater the leading platform in Texas."

Terral Hill added, "In only two years, ClearWater has already emerged as a recognized leader in guest experience and wash quality in the Texas car wash market with 10 locations open and more than 20 sites in development. By joining one of the largest platforms in the region, our guests will immediately benefit from more membership locations, and we look forward to the opportunity to further enhance the guest experience across all locations."

The CarWashKing team and Wolfson Partners LLC served as advisors to the companies on the formation of the strategic alliance.