Garnett Station Partners, LLC, a New York-based principal investment firm that manages $1.85 billion of assets, announced it has partnered with CEO Jamie Nester and the management team of Flagstop Car Wash to recapitalize the company and provide growth capital to continue building out the Flagstop platform.

“We’re thrilled to partner with Garnett Station and to add both their financial support and operational expertise as we look to continue to strengthen and grow our express and membership-focused business model,” Nester said. “The Garnett Station team shares our vision for growth and passion for building a leading car wash platform. I’m excited for this next chapter of growth for Flagstop.”

Founded by Bob Schrum in 1981 and acquired by Jamie Nester, Craig Marable and Derek Haynes in 2016, Flagstop offers express car wash and membership services at 14 sites in the greater Richmond, Va., area. Garnett Station’s investment will help accelerate the growth of Flagstop’s car wash platform within its core geographies, with the expectation to double its current footprint through new unit development and acquisitions.

“Jamie, Craig and Derek are pioneers in the car wash industry. They have built an extraordinary team and beloved brand, and we are really excited to partner together to further accelerate growth in Richmond and beyond,” said Alex Sloane, co-founder and managing partner at Garnett Station.