William Blair acted as the exclusive financial advisor to National Express Wash, the parent holdings company to El Car Wash, a portfolio company of Wafra Inc. (Wafra), Audrose Partners, and Fireside Investments, in connection with its sale to Warburg Pincus. The transaction closed July 15, 2022.
About the Companies
El Car Wash is a premier car wash platform. The company currently operates 17 locations across the South Florida region, with more than 30 in development and a deep pipeline of additional greenfield and M&A locations. El Car Wash focuses on express car wash services and is supported by a strong brand with a highly loyal membership base. The company has a deep portfolio of irreplaceable real estate that offers a unique competitive advantage in a highly fragmented industry.
Wafra has more than $23 billion of assets under management and invests across a wide range of asset classes. In its pursuit of investments, Wafra seeks to connect its investors, partners, and stakeholders to foster an exchange of ideas and innovations. Wafra’s investment strategies are supported by professionals based in New York and located in other financial centers who express the long-term vision of Wafra’s stakeholders to alternative investments and private equity.
Audrose Partners is a private investment company co-founded by Justin Landau and Geoffrey Karas focused on identifying long-term value creation opportunities in operationally-intensive, thematic businesses.
Fireside Investments is a private investment firm that backs experienced management teams to build leading real estate operating companies and platforms. The firm has invested in and helped build businesses in a variety of industries with attractive fundamentals including permanent exhibition space, private country clubs, marinas, and experiential hospitality. Since the firm’s founding five years ago, it has led investments in businesses with an aggregate enterprise value in excess of $5 billion.
Warburg Pincus LLC is a leading global growth investor. The firm has more than $73 billion in assets under management. The firm’s active portfolio of more than 235 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 20 private equity and two real estate funds, which have invested more than $100 billion in over 1,000 companies in more than 40 countries. The firm is based in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.