Private Equity Funds Invest In Car Washes 2025

Largest Carwash Investors

Key Takeaways

Types of Car Washes

Key Takeaways

Updated May 06, 2025

Private Equity Funds Invest In Car Washes 2025

Largest Carwash Investors

View Report

Private Equity Funds Invest In Car Washes 2025

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.

View Report

The car wash industry continues to see an influx of private equity funding as more institutional investors recognize the sector’s growth potential. As of 2025, private equity has cemented its presence across various car wash chains, driving consolidation, innovation, and expansion.

Major Players: Market Leaders

Top industry players like Mister Car Wash, Whistle Car Wash, and Tidal Wave Auto Spa are leading the charge, each backed by prominent private equity firms such as Oaktree Capital, Leonard Green & Partners, and KKR. These industry giants command significant market share, with car wash locations growing into the hundreds.

Rising Stars: Middle Market Investors

Private equity continues to support the mid-market as well, with firms like Freeman Spogli, Wildcat Capital Management, and CCMP Growth Advisors gaining traction. These companies, while smaller than the top players, show potential for future growth and acquisition, with backing from both established and emerging equity firms.

Up-and-Coming: Small but Mighty

Smaller players are rapidly carving out their space in the car wash market. Backed by firms like TRP Capital Partners and ClearSky Capital, chains such as Jax Car Wash and Raceway are contributing to the expansion of the industry at the regional level, showing strong growth and innovation.

To see the landscape in 2022, see our private equity in the car wash industry in 2022.

Key Takeaways

Frequently Asked Questions

Related Resources

Updated May 05, 2025

ICA 2025 Presentation: M&A & Capital Markets

Presented by Car Wash Advisory: M&A & Capital Markets in and of the Carwash Industry

Read More
Updated Nov 22, 2024

A Tale of Private Equity in Car Washes | ICWG

Private equity doesn’t always “work.” Hopefully, this comes as no surprise. Private equity’s involvement in the car wash sector is no exception. The formula that combines outside money, tenured industry experts, and a fitting and applicable industry is far from infallible.

Read More
Updated Nov 22, 2024

Pre-Existing Membership Programs Impact on Car Wash Valuation

What They Mean for Valuations: Featured in AutoLaundry News

Read More