ATLANTA, May 3, 2021 /PRNewswire/ -- Mammoth Holdings, LLC ("Mammoth"), an Atlanta-based conveyor car wash operator, announced that PureMagic Carwash ("PureMagic"), a seven-unit express conveyor car wash operator with three additional units in development in Knoxville, TN has agreed to join Mammoth. PureMagic's founders, Jim and Teri Rooney, each chose to invest a significant amount of their proceeds into Mammoth's equity.
Gary Dennis, Mammoth's co-founder and CEO, explained, "Jim Rooney is one of the most talented operators in the car wash industry and the dominant brand in his market. He and Teri [Rooney] are high-integrity, high-quality people, and we're honored and excited they've chosen to become partners in the Mammoth family of brands." He added, "Jim will become a senior vice president on Mammoth's executive team where we intend to stay out of his way - allowing him to continue driving strong growth in the region."
Jim Rooney, PureMagic's co-founder, stated, "Teri [Rooney] and I had several opportunities to position our company for growth outside the Knoxville MSA, yet Mammoth's team kept distinguishing themselves and made the choice easy. I've known Gary Dennis, Marcus Kittrell, and others on the team for years. I trust these people and know they are focused on doing right by others and achieving great results for their companies." Rooney added, "Their team-oriented leadership style combined with the treatment we experienced throughout this process gave us confidence we were aligning our company with other like-minded, people-focused leaders. I look forward to a long and productive relationship with Mammoth."
Amplify Car Wash Advisors provided sell side advisory services on the transaction.
Mammoth is the first car wash acquisition platform formed by industry-insiders and is the 7th largest conveyor car wash operator in the United States according to Commercial Plus's Top 100 list. Mammoth is customer-focused operationally and operator-focused in its approach to acquisitions and seeks to be the partner-of-choice for car wash operators who desire liquidity, growth capital, and a tax-deferred equity investment opportunity. Mammoth's multi-brand portfolio includes Marc-1, Wash Me Fast, Swifty, Ultra, Finish Line, Wiggy Wash, Shine On, Pit Stop, Lulu's, Ollie's, and now PureMagic, among others. Mammoth has significant growth capital at its disposal and is actively seeking acquisitions and development opportunities.
In October 2018, Mammoth partnered with Red Dog Equity LLC, an Atlanta-based private equity firm, which, through its partnership with Tom Pritzker's family business interests (advised by The Pritzker Organization), provides the equity for Mammoth's corporate development initiatives. Monroe Capital provides Mammoth's debt financing.
About Mammoth Holdings
Headquartered in Atlanta, Georgia, Mammoth Holdings operates 63 conveyor car washes under the PureMagic, Marc-1, QuickWash Express, Ultra, Wash Me Fast, Wiggy Wash, Pals, Finish Line, Shine On, Lulu's, Ollie's, PitStop, and Swifty brands in Georgia, Alabama, Kentucky, Illinois, Utah, South Carolina, Mississippi, Louisiana, Indiana, and Tennessee. Mammoth was founded by Gary Dennis and Chip Hackett in 2002. To learn more, please visit one of our locations or see us online at: www.mammothholdings.com.
PureMagic currently operates seven high volume express conveyor car washes in the greater Knoxville market, including two double tunnels, a flat belt interior tunnel, and the country's first Peco polish tunnel. PureMagic has three express conveyor car washes in development in Oak Ridge, Powell, and Karns, Tennessee. PureMagic was founded by Knoxville locals, Teri and Jim Rooney, in 2003, and the PureMagic brand was established in 2016. To learn more, please visit any PureMagic location or see them online at www.puremagiccarwash.com.
About Red Dog Equity LLC
Red Dog Equity LLCTM is a private equity firm that invests in lower middle-market companies poised for strong growth in partnership with driven, entrepreneurial business leaders ("Red Dogs"). To learn more, please visit: www.reddogequity.com.
About The Pritzker Organization
The Pritzker Organization is the merchant bank for the business interests of the Tom Pritzker family. Additional information can be found at www.pritzkerorg.com.
About Amplify Car Wash Advisors
Amplify Car Wash Advisors is a full-service car wash advisory firm founded by industry veterans, Jeff Pavone and Bill Martin to guide sellers through critical business decisions including mergers and acquisitions & capital advisory. For more information, please visit https://amplifywash.com/.
SOURCE Mammoth Holdings