HOUSTON--(BUSINESS WIRE)--WhiteWater Holding Company, LLC (“WhiteWater”), an express car wash platform headquartered in Houston, has announced its acquisition of Rev Car Wash, LLC (“Rev”), a Dallas based car wash operator. The acquisition of Rev adds 3 more locations to WhiteWater’s existing presence in the Dallas-Fort Worth market and expands WhiteWater’s current platform to 15 locations across Texas and Oklahoma, with a number of additional sites in development as well as additional acquisitions.
“We are thrilled to have worked with the WhiteWater team and appreciated their ability to work quickly and diligently, while structuring a deal that was attractive to the multiple owners involved at Rev. The WhiteWater team has a sterling reputation in the car wash market, and it’s clear they’re a group of experienced, well-respected operators that care about building a sustainable business focused on people and culture,” said Brett Sheldon, Rev’s CEO.
Rev’s sites will be converted to the WhiteWater brand and will be operated by WhiteWater’s existing senior management: CEO Steve Mathis, President & COO Clayton Clark, and President of Development Ronnie Corbin, who joined the team in 2019 after WhiteWater acquired Legends Express.
Steve Mathis, WhiteWater’s CEO, said, “WhiteWater continues to execute on its plan to build an operator-led car wash platform and be the destination of choice for owners seeking either an attractive exit opportunity or a chance to retain equity as part of a larger, rapidly expanding platform. We are actively seeking opportunities to work with owner-operators in our local markets, as well as those in new regions who would serve as launching pads for additional growth with the support of our organization behind them.”
“Though Brett and his associates at Rev wanted to step away to pursue other endeavors, we’re excited to work with and support Rev’s existing management team and employees, who will be staying on under the WhiteWater banner. We look forward to bringing WhiteWater’s financial and operational resources to Rev, in addition to WhiteWater’s Employee Leadership Program and Internal Growth Opportunities to our new team members,” added Clayton Clark, WhiteWater’s President & COO.
About WhiteWater Express Car Wash
WhiteWater is a multi-location car wash platform headquartered in Texas and backed by SkyKnight Capital. WhiteWater offers express exterior car washes with 15 locations in Houston, Dallas, Austin, and Tulsa. WhiteWater is led by Steve Mathis and Clayton Clark. More information is available at: www.whitewatercw.com. For development or partnership discussions, please contact Ronnie Corbin, President of Development, at: email@example.com.
About Rev Car Wash
Headquartered in Dallas, TX, Rev operates 3 express car washes in Plano, Garland, and Rowlett. Rev was originally founded in 2010 by Brett Sheldon and his partners. More information is available at: www.revcarwash.com.
About SkyKnight Capital
Founded in 2015, SkyKnight manages approximately $900 million in assets across its funds and co-investment vehicles on behalf of institutional family offices and leading foundations and endowments. SkyKnight focuses on building long-term partnerships with high-quality businesses in acyclical growth sectors alongside exceptional management teams. SkyKnight makes equity investments ranging from $20 million to over $200 million. More information is available at: www.skyknightcapital.com.