WhiteWater is a leading express car wash platform that has grown from a single location operator in 2016 to over 60 locations currently across Texas, Oklahoma, Ohio, Kentucky and Michigan
WhiteWater's founders, Steve Mathis, Clayton Clark and Shane Wilson, and SkyKnight Capital, L.P. ("SkyKnight") will remain significant investors alongside Freeman Spogli
Steve, Clayton, and Chief Financial Officer Henry Shine will continue to lead the Company as WhiteWater embarks on the next phase of its growth
Market Significance
Demonstrates the strong partnership between the Regional Investment Banking, Diversified Industrials and Financial Sponsors coverage groups
Highlights J.P. Morgan's market leadership in automotive aftermarket services
Reinforces J.P. Morgan's leading middle market M&A and financial sponsors practice
Client Impact
Provides Freeman Spogli with exposure to the expansive, highly-fragmented car wash market in the United States
Enables accelerated expansion through WhiteWater's multi-pronged, multi-regional growth strategy bolstered by Freeman Spogli's extensive experience in scaling multi-unit businesses
Management Commentary
Freeman Spogli's extensive experience in successfully building consumer brands and scaling multi-unit business will bolster our strategy to densify existing markets while pursuing thoughtful new market expansion.
