Flagstop Car Wash Bolsters its Footprint and Reinforces Leading Position in Richmond Metropolitan Area With the Acquisition of Three New Sites
Flagstop Car Wash ("Flagstop" or the "Company"), the leading express car wash brand in Richmond, Virginia, today announced the acquisition of a three-unit platform in the greater Richmond metropolitan area that was completed last month. The units have been converted to the Flagstop brand and reopened earlier this week. As a Richmond-based car wash platform, Flagstop is committed to bringing the community best-in-class car wash services. This acquisition further strengthens the Company's footprint and leading market position.
Founded in 1981 in Chester, Virginia, Flagstop has grown to become the leading express car wash brand in the greater Richmond area, offering premium wash and membership services across 19 units. Flagstop's growth plan to reach over 25 units by 2025 will focus on continuing to build out the Company's density in the greater Richmond metropolitan area. Since inception, Flagstop has invested in creating a relationship of trust with the community and has built a customer-focused business model. This approach, along with Flagstop's commitment to providing affordable car wash services, is embodied in its "RVA Wash Club" program, which allows members to receive unlimited high-quality washes at any of Flagstop's locations.
"We are incredibly excited about the opportunity this acquisition presents the Flagstop brand with, as it will allow us to continue scaling our platform, offering services to a greater number of customers, and pursuing our objective of being the preferred car wash with the highest customer satisfaction in the greater Richmond area. With several additional units under development, we are dedicated to providing the Richmond community the highest quality experience, and we look forward to expanding our reach and deepening our ties with the residents of our city," said Jamie Nester, CEO of Flagstop.
Flagstop's continued expansion and success is supported by a previous investment from Garnett Station Partners, LLC, a New York-based principal investment firm that manages over $2.3 billion of assets. Since the beginning of the partnership, Flagstop has grown its local footprint with five additional sites and has two additional locations set to open later this spring.
About Flagstop Car Wash
Flagstop Car Wash was founded over 40 years ago in Chester, Virigina and is led by industry executive Jamie Nester. Flagstop is the leading express car wash platform in the greater Richmond market with 19 existing locations. The Company is fueled by a highly recognizable brand, the "RVA Wash Club", and a multi-pronged Virginia centric growth strategy. Flagstop is well-positioned to continue to capitalize on strong industry tailwinds and its market leadership. For the latest news from Flagstop as well as more information on the company's services, locations, and hours, please visit www.flagstopcarwash.com.
About Garnett Station Partners
Garnett Station Partners is a principal investment firm founded in 2013 by Matt Perelman and Alex Sloane that manages over $2.3 billion of assets. Garnett Station partners with experienced and entrepreneurial management teams and strategic investors to build value for its portfolio of growth platforms. The firm draws on its global relationships, operational experience and rigorous diligence process to source, underwrite and manage investments. Core sectors include consumer and business services, health and wellness, automotive, and food and beverage. Garnett Station's culture is based on the principles of entrepreneurship, collaboration, analytical rigor and accountability. For more information, please visit garnettstation.com.
News published on and distributed by:
