$425,000,000 | Spotless Brands (logo) has Received a Growth Equity Investment from Wafra (logo) | February 2023

William Blair & Company acted as the exclusive financial advisor to Spotless Brands in connection with its $600 million capital raise, consisting of non-convertible redeemable preferred units, common equity, and first-lien credit. The transaction signed on January 27, 2023.

About the Companies

Spotless Brands was established in 2019 with a singular goal: to build market-leading car wash platforms in partnership with world-class operators. Through its partnerships with Flagship Carwash, Cobblestone Auto Spa, Ultimate Shine Car Wash, and Okie Express Auto Wash, the company currently surpassed 140 locations in Arizona, Colorado, Oklahoma, Washington D.C., Maryland, Tennessee, Ohio, West Virginia and Virginia. With a robust pipeline of acquisitions and new development opportunities, Spotless Brands is on track to significantly expand in each of its markets in 2023.

Wafra is a global alternative investment manager with roughly $31 billion of assets under management across a range of alternative assets, including alternative and traditional real estate, strategic partnerships, and real assets. By providing flexible and accretive capital solutions and focusing on long- term partnerships, the firm aligns and partners with high quality asset owners, companies and management teams. Based in New York, Wafra has additional offices in London, Kuwait, and Bermuda.

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