Splash Car Wash, headquartered in Milford, Connecticut, announced today the acquisition of the Long Island-based Personal Touch Carwash chain. The three washes will bring Splash's total site count to 50 throughout the Northeast, 30 of which are located in New York.
"We are so pleased to add these great sites, but moreover, we're excited to add the Personal Touch founding members, Paul Vallario, Mike Pernicone, and Nick Iorio, to our development team. The three will lead Splash's development in the region and have already identified several sites in the market that are currently under negotiation," stated Mark Curtis, CEO of Splash. "This team knows the Long Island market better than anyone. Together, they have over 90 years of car wash experience, which only enhances Splash's ability to enter and expand in new markets. It's great to be able to partner with them."
Paul Vallario, co-owner and founding member of Personal Touch, added, "It was great working with Mark, Dan Petrelle, Splash's COO, and Jay Ford, CFO, to get this transaction done, and we look forward to working with them on future acquisitions and the development of new washes in the Long Island market. We mesh well with the Splash culture and are confident that our employees will be treated well after the sale."
In other news, Splash also announced zoning approval for two new express wash sites in Henrietta and Nanuet, New York. Both sites are expected to begin construction this summer with open dates set in early 2023. Splash is currently developing nine new facilities with its East Haven wash expected to open in early June.
ABOUT SPLASH CAR WASH, INC
Splash Car Wash was started in 1981 by Mark Curtis and Chris Fisher with a single location in Greenwich, Connecticut. Since that time, Curtis & Fisher, along with their experienced team and partners, have developed over 45 locations, and currently operate carwash tunnels in Connecticut, Vermont, and New York. Many sites include detailing operations, six locations provide oil change services, and one location has a laundromat.
Splash has been named "Best Carwash" by numerous publications over 40 times and has been recognized as a "Top Workplace in Connecticut" this year by Hearst Publications. Four General Managers employed by Splash have been recognized as "Most Valuable Carwasher" by Professional Carwash & Detailing Magazine. Splash has been awarded the US Chambers of Commerce prestigious "Blue Chip Enterprise Award" and has been inducted into the Connecticut Business Hall of Fame.
ABOUT PALLADIN CONSUMER RETAIL PARTNERS (PCRP)
Palladin Consumer Retail Partners is a private equity firm with extensive experience investing in and building leading consumer brands. Founded in 1998, the firm prides itself on working closely with management teams to create value through strategic and operational initiatives. Its principals have previously held CEO and other senior executive roles at several wholesale, retail, and financial services companies, and have invested in, financed, or managed over 100 public and private companies. Palladin partnered with Splash in 2018. Other current and former investments include Tailwind Hospitality, Leapfrog Brands, Decowraps, PB Metro, KT Tape, Nic+Zoe, InMotion Entertainment, J. McLaughlin, Things Remembered, Restoration Hardware, Spencer Gifts, Jamba Juice, Worldlynx, Multi-Flow, and Kwik-Tek.
SOURCE Palladin Consumer Retail Partners, LLC