Tagg-N-Go Car Wash Secures Strategic Financing Package From Andover Lending

Joint Venture Between TPG Angelo Gordon and Andover Properties Provides Capital to Fast-Growing Car Wash Company

SALT LAKE CITY--(BUSINESS WIRE)--Tagg-N-Go Car Wash (“Tagg-N-Go”), a fast-growing express car wash company founded in Southern Utah, announced today it has secured a financing package from Andover Lending, a joint venture between TPG Angelo Gordon and Andover Properties, a real estate investment manager.

This financing, structured and arranged by Crewe Capital, further supports Tagg-N-Go’s recent growth acceleration by consolidating several debt facilities, extending debt maturities, enhancing current facilities, and funding its recent expansion into Southeast Idaho, where the company acquired and rebranded seven new locations. It will also help enable future acquisitions and strategic expansion initiatives.

Established in early 2024, Andover Lending combines Andover Properties’ 20-year track record of investing in self storage and other niche sectors facilities with TPG Angelo Gordon’s deep structured credit investment experience to originate non-recourse financing to sponsors nationally.

Quinn Allgood, co-Founder of Tagg-N-Go, said, "This investment allows us to accelerate growth while staying true to our core values of building a strong culture and providing best-in-class service to our customers. With the support of TPG Angelo Gordon and Andover Properties – two firms with a strong track records of supporting companies like ours – we look forward to expanding our brand and continuing to deliver for our guests."

Co-Founder Conner Atkin added, "This financing and partnership with TPG Angelo Gordon and Andover Properties is a significant milestone for Tagg-N-Go. We’ve been working toward an investment like this to further our growth and couldn’t be more excited for what this means for our guests, our team members, and the communities we serve."

David Busker, Head of Commercial Real Estate Debt at TPG Angelo Gordon added: “Through our Andover Lending platform, we are pleased to be supporting Tagg-N-Go on their continued expansion and growth trajectory. This investment reflects our confidence in the company’s commitment to quality and ability to deliver outstanding service to customers.”

Michael Bennett, Managing Partner of Crewe Capital, Tagg-N-Go's exclusive financial advisor in the transaction, commented, "With TPG Angelo Gordon’s capital backing and Andover’s sector expertise, Tagg-N-Go is strongly positioned to be a dominant player in the car wash space in the Intermountain West. We are proud to have supported Tagg-N-Go through this strategic partnership."

Tagg-N-Go has grown rapidly since its founding in 2016, earning recognition as one of Utah’s fastest-growing companies. The company credits its success to its focus on quality, operational excellence, and guest-first service.

About Tagg-N-Go Car Wash

Founded in 2016 in St. George, Utah, Tagg-N-Go Car Wash has grown to 30 locations across Utah, Idaho, and Nevada. Ranked among the top 40 conveyor car wash brands in the nation, Tagg-N-Go is known for its unlimited wash memberships, exceptional customer service, and deep community engagement.

About TPG

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $261 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com.

About Andover Properties

Andover Properties is an investment firm specializing in alternative real estate asset classes such as self-storage, manufactured housing, RV parks, small bay industrial, and car washes. Our lending platform, Andover Lending, was established in 2024 to provide max-proceeds, non-recourse, bridge and construction financing for properties or portfolios across the U.S.

About Crewe Capital

Crewe Capital is an independent, middle-market investment banking and M&A advisory firm, advising companies through their most important capital transactions. Learn more at www.crewe.com.

Investment banking and M&A activities are offered through Crewe Capital, LLC, a registered broker-dealer with the U.S. Securities and Exchange Commission (www.sec.gov), a member of the Securities Investor Protection Corporation (www.sipc.org), and a member of the Financial Industry Regulatory Authority (www.finra.org).