Who bought Jilly's Car Wash?

National Retail Properties Inc. acquired Jilly's Car Wash Aug 30, 2022.

M&A History
Acquisition Date
August 30, 2022
Primary State
Wisconsin
Site Quantity
4
Deal Value
Undisclosed
Transaction Synopsis
  • Birmingham, Alabama-based TRP Capital Partners purchased Jilly’s Car Wash and its 4 Milwaukee-area locations. 
  • After the purchase, Orlando, Florida-based real estate investment trust, National Retail Properties, purchased the four locations for $19 million, according to state records.
Market Significance
  • Jilly’s settled on TRP because the firm agreed to allow it to control the expansion of the Jilly’s brand across the Milwaukee region. 
  • TRP Capital also took ownership of Michigan-based Jax Kar Wash’s nine locations, pushing them to 25 operating locations in the state of Michigan.
Client Impact
Client Testimonial
"We saw the car wash market is booming, and we were concerned that as a private business that we might miss out on a much bigger opportunity, so we went looking for a partner to help us achieve this goal”
Jon Zimmerman, co-founder of Jilly's
Jon Zimmerman, co-founder of Jilly's