International Car Wash Group Acquires TLC Xpress Carwash of Fayetteville, NC
DENVER--(BUSINESS WIRE)--Nov 14, 2019--
The International Car Wash Group (ICWG), the world’s largest local car wash, today announced the acquisition of TLC Xpress Carwash, a family-owned and operated staple of the Fayetteville, NC community. With the acquisition of this seven-property chain, ICWG enters the highly desirable North Carolina market for the first time.
All TLC Xpress sites will be rebranded as Car Wash USA Express, one of the largest express car wash businesses in the South and growing rapidly.
North Carolina’s sixth largest city, Fayetteville is best known as the home of Fort Bragg and Pope Air Force Base. It is also becoming an attractive retirement destination. The acquisition of TLC Xpress provides ICWG a good foothold in this mid-sized market and the opportunity to build on well-established community and employee relationships.
“North Carolina has been on the radar for quite some time. We are very excited to bring these seven car wash sites into the ICWG family,” said Jeff Maize, Senior Vice President, Acquisitions, ICWG. “The owners, a mother and son team, have built a very strong brand and we are proud that they have selected ICWG to keep their legacy alive.”
For Diane and Thomas Deering, the mother and son sellers, the transaction with ICWG is ideal. Diane will be retiring, and Thomas will remain on board. Many of the TLC employees have also been offered the opportunity to stay on in their current positions.
“I have known ICWG for some time and always liked the way they do business. If how they put our deal together is any indication of what lies ahead, we know our customers are in great hands. ICWG was flexible, fast and fair,” said Thomas Deering.
“We look forward to offering the Fayetteville community the best car wash service possible. Fully leveraging Thomas’s depth of experience along with the TLC employees on our team, we are confident these sites will continue to grow significantly,” added Tom Mangas, CEO, ICWG.
Headquartered in Centennial, Colorado, the International Car Wash Group (ICWG) is the world’s largest local car wash, cleaning more than 40 million cars a year. It operates over 900 locations in 14 countries across US, Europe and Australia, with 155 US venues. The Company was founded in Germany in 1965 under the IMO brand, the name still used at its non-US locations. ICWG entered the US market in 2015 and operates under the Car Wash USA Express, Goo-Goo Express, and Supersonic Car Wash brands. Focused on solidifying its global leadership, ICWG is committed to operational excellence and innovative customer service. It aims to be the partner of choice for employees and all car wash operators potentially interested in joining the ICWG family.
Companies interested in pursuing potential transactions with ICWG are encouraged to contact the company at: email@example.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20191114005858/en/
CONTACT: Judy Grossman
Red Fox Communications
KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA COLORADO
INDUSTRY KEYWORD: AFTERMARKET RETAIL AUTOMOTIVE OTHER AUTOMOTIVE OTHER RETAIL GENERAL AUTOMOTIVE SPECIALTY
Copyright Business Wire 2019.
PUB: 11/14/2019 04:00 PM/DISC: 11/14/2019 04:01 PM