* Denotes a partial company acquisition and/or divestiture.
The deal signals continued consolidation in the highly fragmented U.S. express car wash industry, where well-capitalized regional platforms like El Car Wash are aggressively rolling up successful independent operators to build scale. El's use of a hybrid structure, outright acquisition paired with a joint venture with the founders, reflects a broader trend of buyers retaining local operator expertise and community goodwill rather than stripping it out post-close. It also reinforces Florida's status as a key battleground market for express car wash growth, given its year-round wash-friendly climate, population growth, and dense suburban corridors.