NEW YORK, Feb. 14, 2022 /PRNewswire/ — Car Wash Advisory, LLC ("CWA"), a leading investment banking firm to privately owned car wash businesses, is pleased to announce the successful sale of its client Russ Auto Wash, a Toledo, Ohio-based car wash brand with three locations, to WhiteWater Express Car Wash ("WhiteWater").
Russ Auto Wash has operated as a favorite regional brand and a proven market-leader in the Toledo area for many years. Jeff Bankey, owner of Russ Auto Wash, comments "Very few types of these deals seem to work out, but I’m surprised. CWA is good at what they do and take care of so many details. CWA absorbed a lot of the pain and I’m happy with how they took care of this sale."
Harry Caruso, Founder and CEO of Car Wash Advisory, alongside of his CWA team, represented and provided advisory services to Russ Auto Wash on the transaction and have now accomplished another optimal result for a CWA client due to CWA’s structured, confidential sale process.
"We’re honored to have had the opportunity to advise in this deal. White Water was a pleasure to work with while Jeff Bankey is the absolute definition of an industry veteran and expert. Wishing Jeff all the best as he embarks on his retirement" commented Harry Caruso.
With the successful acquisition of Russ Auto Wash, WhiteWater further increases its growth and market share.
Brittany Webb remarked, "It’s always a true pleasure to accomplish what we have with Russ Auto Wash. With this industry being full of remarkable operators and owners, we always look to create meaningful relationships that then lends itself to lifelong connections such as this".
About Russ Auto Wash
Russ’ Auto Wash has been providing high quality exterior auto wash services for sixty years. Their customers comment on the friendliness and professionalism of the Russ’ Auto Wash team. All three locations in the Toledo area have exemplified premier efficient service that marks them as a notable brand. Their passion stems from happy and pleased customers.
White water is an exterior express car wash chain with a total of 88 locations expanding across the Northwest Houston and beyond. With a foundational belief of creating a "better, faster, and higher quality car wash at an amazing value", White Water has been able to successfully build their brand for 30 years. White Water Car Wash proves to uphold their initiative of positively impacting their communities.
About Car Wash Advisory
Car Wash Advisory is a leading nationwide investment banking and brokerage firm based in New York City specializing in and focused solely on the car wash industry. Founded by CEO Harry Caruso, Car Wash Advisory’s team of financial professionals provides sellside M&A advisory and debt and equity capital raising services to car wash owners and operators across the United States. To learn more or reach out to the CWA team, visit www.carwashadvisory.com
The principal Harry H. Caruso of CWA Capital Partners is a registered representative offering securities and investment banking services through Britehorn Securities, a registered broker-dealer (member FINRA/SIPC). Britehorn Securities and CWA Capital Partners are not affiliated entities.
SOURCE Car Wash Advisory