Club Carwash acquires 8 Tidal Wave Express branches
Last month, Club Car Wash reached an agreement to acquire eight Tidal Wave Express locations in the St. Louis area, in both Missouri and Illinois.
ST. LOUIS — A Columbia, Mo.-based car wash chain partly owned by Kansas City Chiefs tight end Travis Kelce has acquired most of the locations of one of the city’s largest car wash operators. St. Louis cars, in a deal that brought in more than $5 million apiece. for some sites.
Last month, Club Car Wash reached an agreement to acquire eight Tidal Wave Express locations in the St. Louis area, in both Missouri and Illinois, the company said in a press release. All eight car washes were owned by Chesterfield-based Tidal Wave, which started in Chesterfield in 2016. Over the past 18 months, Tidal Wave has rapidly grown from five locations to 11, including three luxury car washes and eight locations express.
Tidal Wave Express locations will be rebranded as Club Car Wash, bringing the Columbia company to 23 locations in the St. Louis metro area. The car wash operator, which started as Tiger Express Car Wash in 2006 and rebranded in 2019, currently has 109 total locations in eight central states.
Club Car Wash CEO Roland Bartels is the majority owner of the company, and Kelce acquired a stake in December 2020, ahead of expansion plans with seven locations in Kansas City and elsewhere, Bartels said last year. .
The car wash company said it plans to expand to nearly 140 locations this year as it rapidly expands to four more states through acquisitions and new developments, reflecting its expansion into cities like Wichita, Kansas, in 2021.
The acquisition did not include three full-service Tidal Wave car washes, luxury car washes that operate with convenience stores and gas stations in Sunset Hills, Chesterfield and Ellisville, Club Car Wash said.
Two of the purchased Express locations – Maplewood and Lake St. Louis – opened this year. Several more locations are in the works for Tidal Wave, but the status of those was unclear. Venues are in various stages of development in Edwardsville; Beautiful city; Fairview Heights; City and countryside; Butler Hill Road in southern St. Louis County; Bridgeton; St. Charles; Saint Pierre ; O’Fallon, Missouri; Chippewa/Dutchtown; Troy, Missouri; Lake of the Ozarks; and 20 other locations in Missouri and Illinois, according to the Tidal Wave website.
Club Car Wash and Tidal Wave did not immediately respond to requests for comment on Friday.
Tidal Wave CEO Mace Nosovitch said in a statement, “Partnering with the team at Wildcat Capital Management and Club Car Wash felt like the right next step in the evolution of Tidal Wave Express Car Wash – it combines our prime locations and our extensive pipeline of future locations with best-in-class operating model and provides tremendous career growth opportunities for our employees. We are excited to join the team and grow the St. Louis market and beyond.
No details were available on a financial stake in Wildcat’s Club Car Wash, a New York-based private equity and real estate investment firm with a multibillion-dollar portfolio that invests in car washes.
Some of the Tidal Wave Express sites have sold for millions of dollars, although sale details are not yet available for all locations. At least one of the venues, in Maplewood, has been leased by Tidal Wave to Kroenke Group, according to the latest business diary reports.
Read the rest of the story on the St. Louis Business Journal website.
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