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Harry Caruso recently contributed to an industry article that looks at where the market stands today. While deal activity has cooled, profitability and long-term growth remain strong.
Harry Caruso recently contributed to an industry article that looks at where the market stands today. While deal activity has cooled, profitability and long-term growth remain strong.
The first half of 2024 has brought a major and significant slowdown in carwash M&A, along with a stark decrease in the dispersion of acquiring parties. Transaction count is down ~46% and the number of sites sold and acquired is down nearly 40%, both compared to the first half of 2023. By way of most active acquirers, 2024 posted a large increase in deal concentration. Most notably, during the first half of 2023, the most active acquiror by transaction count was El Car Wash, having been the acquiring group in just 11% of the announced transactions. The first half of 2024 had Whistle Express representing a commanding 43% of deals as the acquiring group. In this industry report, we cover all announced M&A transactions in Q2 and provide a candid overview of market trends.
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Is Mister Car Wash a take-private candidate? Explore valuation compression, private vs. public market dynamics, and lessons from Dentalcorp’s public-to-private journey.
Our Top Companies and Top Acquisitions pages have become trusted resources across the car wash industry. We’re inviting the community to help keep these tools accurate and up to date.
