ATLANTA — Mammoth Holdings LLC (“Mammoth”), an Atlanta-based express conveyor carwash operator, has acquired FLCW LLC dba Finish Line Car Wash, an eight-unit express conveyor carwash operator with locations in Kentucky, Tennessee and Illinois, according to a press release.
Finish Line’s founders invested a significant portion of their proceeds from the sale of Finish Line into Mammoth and will have important, ongoing roles with the company, the release continued.
“We couldn’t be more excited to bring another industry-leading carwash company onto our platform,” explained Gary Dennis, Mammoth’s co-founder and CEO. “Finish Line is a perfect fit with our strategy of partnering with industry-insiders who are leaders in their markets. Finish Line’s founders, Nancy Bergfield and Chris Presswood, are innovators, outstanding customer-focused operators and high-quality people. They will be a wonderful addition to our team.”
“Nancy and I think Mammoth is an ideal strategic partner. There is so much opportunity here, we couldn’t pass this up,” said Chris Presswood, Finish Line’s co-founder, who is now Mammoth’s senior vice president of operations and special projects. “We now have access to growth capital and great partners like Gary Dennis, Marcus Kittrell and Chip Hackett. Our employees and customers aren’t just in good hands — they will remain in our hands. We are as excited about the opportunity this creates for our employees as we are for ourselves. It’s going to be fun to see what a great company this team builds.”
“Chris and I were amazed it took only 30 days from signing a letter of intent to closing this deal. Mammoth made the whole process quick and painless,” said Nancy Bergfield, Finish Line’s co-founder, who will assist Mammoth with corporate development projects going forward. “They delivered on all their commitments to us and were transparent from start to finish. Mammoth showed us they really care about our employees, which was very important to us.”
Mammoth is the first carwash acquisition platform formed by industry-insiders and is customer-focused operationally and operator-focused in its approach to acquisitions, the release added.
Mammoth seeks to be the partner-of-choice for carwash operators who desire liquidity, growth capital and a tax-deferred equity investment opportunity, the release stated.
Mammoth’s multi-brand portfolio includes Marc-1, Wash Me Fast, Swifty and Ultra, among others, the release concluded.