Splash Car Wash Announces AEA Investors Acquires Majority Position from Palladin Consumer Retail Partners

Whats Happening:

AEA Investors has acquired a majority stake in Splash Car Wash from Palladin Consumer Retail Partners. Splash, a leading car wash operator in the Northeast United States with over 65 locations, will use this partnership to accelerate growth through strategic acquisitions and new site openings. Dan Petrelle, previously COO, is succeeding co-founder Mark Curtis as CEO, with Curtis transitioning to Chairman of the Board.

Key Moves:

• AEA Investors acquires majority stake in Splash Car Wash from Palladin Consumer Retail Partners

• Dan Petrelle succeeds Mark Curtis as CEO, with Curtis becoming Chairman of the Board

• Partnership aims to accelerate growth through acquisitions and new site openings

By The Numbers:

• Splash Car Wash operates over 65 locations across 4 states

• AEA Investors manages funds with approximately $18 billion of invested and committed capital

• Splash is ranked as the 19th largest car wash operator in the U.S.

Key Quotes:

• "This partnership marks the beginning of an exciting new era," said Mark Curtis, Co-Founder of Splash Car Wash.

• "AEA has an impressive track record of helping strong companies scale for the long run," stated Dan Petrelle, new CEO of Splash Car Wash.

• "Splash is a premier player in a fragmented market and space we know well," said Dan Schorr, Partner at AEA Investors.

Bottom Line:

The acquisition of Splash Car Wash by AEA Investors marks a significant shift in the company's growth strategy. With AEA's financial backing and expertise, Splash is poised for accelerated expansion through acquisitions and new site developments. This move also signals a leadership transition, with Dan Petrelle taking the helm as CEO, potentially bringing fresh perspectives to the company's operations and growth initiatives.

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