Subjects: TNM, SBS
Mammoth Holdings Forms "Operator-Focused" Conveyor Car Wash Platform
ATLANTA, Oct. 18, 2018 /PRNewswire/ -- Mammoth Holdings, LLC, an Atlanta-based express conveyor car wash operator, has formed a 22-unit platform with the acquisitions of Birmingham-based Marc-1 Car Wash and Atlanta-based Wash Me Fast, LLC.
"We've brought several leading brands under one roof to create the first car wash acquisition platform formed by industry-insiders," said Gary Dennis, Mammoth's co-founder and CEO. Dennis continued, "We are 'customer-focused' operationally and 'operator-focused' when it comes to acquisitions. We want to be the partner-of-choice for car wash operators who want liquidity yet want their company and employees to end up in the right hands."
"When I looked at this opportunity a couple months ago, it made sense to me immediately," said Marcus Kittrell, the founder of Marc-1 Car Wash who will be senior vice president of operations and M&A for Mammoth in addition to being a major investor. Kittrell added, "I spent the better part of my life building my business, and joining forces with operators I trust and respect, who are as passionate about customer service and providing a great place to work for their associates as I am, was an easy decision."
Chip Hackett, Mammoth's co-founder and CFO added, "When Marcus said he was 'in', Gary and I knew we were putting together something special, something leading operators in the industry like Marcus have wanted for a long time."
Jim Dudley, the founder of Wash Me Fast who made a significant investment in the Mammoth platform, said, "I could have sold my business many times and chose not to. Mammoth presented the opportunity to sell to a group that I know will take care of my customers and employees the way I would have." Dudley added, "They're operators who know the car wash business, and they made the whole process easy for me."
Mammoth partnered with Red Dog Equity LLC, an Atlanta-based private equity firm, which, through its partnership with Tom Pritzker's family business interests (advised by The Pritzker Organization), has additional equity capital available to fund Mammoth's future acquisitions. Harris Williams advised Mammoth, and Monroe Capital provided debt financing and an acquisition facility to Mammoth.
About Mammoth Holdings
Headquartered in Atlanta, Georgia, Mammoth Holdings operates 11 express conveyor car washes and 1 flex service car wash under the Swifty, Ultra, Pals, and Quick Wash brands in Georgia and Alabama. Mammoth was founded by Gary Dennis and Chip Hackett in 2002. Swifty is the official car wash of the University of Georgia Athletics. To learn more, please visit one of our locations or see us online at: www.mammothholdings.com.
About Marc-1 Car Wash
Headquartered in Birmingham, Alabama, Marc-1 Car Wash operates 7 express conveyor car washes in the greater Birmingham and Montgomery areas under the Marc-1 brand. Marc-1 Car Wash was founded by Marcus Kittrell in 1986. To learn more, please visit a Marc-1 Car Wash location or see us online at: www.marc1carwash.com.
About Wash Me Fast
Headquartered in Douglasville, Georgia, Wash Me Fast operates 3 express conveyor car washes under the Wash Me Fast brand in the greater Atlanta area. Wash Me Fast was founded by Jim Dudley in 2005. To learn more, please visit one of our locations or see us online at: www.washmefast.com.
About Red Dog Equity LLC
Red Dog Equity LLCTM is a private equity firm that invests in lower middle-market companies poised for strong growth in partnership with driven, entrepreneurial business leaders ("Red Dogs"). To learn more, please visit: www.reddogequity.com.
About The Pritzker Organization
The Pritzker Organization is the merchant bank for the business interests of the Tom Pritzker family. Additional information can be found at www.pritzkerorg.com.
SOURCE Mammoth Holdings
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