Super Star Car Wash, a leading car wash operator backed by TSG Consumer Partners (“TSG”), today announced its acquisition of Wave Wash, an express conveyor car wash operator serving the Dallas Fort-Worth (“DFW”) Metroplex. With this acquisition, Super Star Car Wash will have 17 operating locations in the DFW market by the end of 2022 and a growing development pipeline.
Founded in 1997 by Frank and Karen Meneghetti, Wave Wash owns and operates eight express conveyor car washes across the DFW Metroplex. The company’s locations are known for their industry-leading, modern equipment and processes and spotless facilities. Wave Wash team members are knowledgeable, courteous, and take great pride in customer care, combining quality, speed, value, and professionalism with old-fashion service.
“Frank and the Wave Wash team have done an excellent job developing and operating top-tier car wash locations that offer an exceptional customer experience,” said Reza Amirrezvani, Founder and CEO of Super Star Car Wash. “As we continue to execute on our growth plans, we are excited to welcome their talented team, and to bring our membership program sales and incentive model to even more customers across the attractive DFW Metroplex.”
“We are excited to join the Super Star Car Wash family and grow our deep and loyal customer base,” said Frank Meneghetti, Founder and President of Wave Wash. “The team at Super Star Car Wash has proven to be successful, innovative operators that share our commitment to providing high-quality services and experiences to customers and local communities, and we look forward to our partnership.”
The transaction follows TSG’s investment in Super Star Car Wash in December 2021. Since TSG’s investment, Super Star Car Wash has grown from 35 to 61 locations, expanding its presence from two to four strategic markets, including Los Angeles and the DFW Metroplex, and the company expects to open its fifth market in Colorado later this year.
Financial terms of the transactions were not disclosed. Ropes & Gray acted as legal advisor to Super Star Car Wash. Quarles & Brady acted as legal advisor and Ardent Advisory Group acted as sole financial advisor to Wave Wash.
