Silverstar Joins Mammoth Holdings

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Posted on November 28 , 2022 By TPO Admin

ATLANTA, Nov. 30, 2021 /PRNewswire/ -- Mammoth Holdings, LLC ("Mammoth"), an Atlanta-based conveyor car wash operator, announced that Silverstar Car Wash ("Silverstar"), a fourteen-unit car wash operator with operations in South Dakota, North Dakota, Iowa, and Nebraska, has agreed to join the Mammoth organization. Silverstar's ownership group made a significant equity investment in Mammoth.

Dave Hoffmann, Mammoth's Chairman and CEO, explained, "The Silverstar team are world-class operators and have quickly built an impressive footprint in the Sioux Falls and Sioux City markets." He added, "Silverstar has taken a unique approach to development that we will continue to leverage across our operator-led platform, in addition to learning from their best-in-class operations."

Bryan Slama, Silverstar's founder, stated, "It was very important to pick a partner who shared our values and our vision for the industry. After meeting Dave [Hoffmann] and the Mammoth team, we immediately knew these were the people we wanted to grow our business with." He added, "Mammoth puts people first, and we are excited to be able to provide our employees an opportunity to grow their careers within a larger organization."

Mammoth is the first car wash platform formed by industry-insiders and is the 6th 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 partnerships and 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, PureMagic, Busy Bee, and now Silverstar 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 and Morgan Stanley provide Mammoth's debt financing.

About Mammoth Holdings
Headquartered in Atlanta, Georgia, Mammoth Holdings operates 80 conveyor car washes under the Silverstar, Busy Bee, 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, Tennessee, South Dakota, Iowa, Nebraska, and Florida. 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.

About Silverstar
Founded in 2010, Silverstar currently operates fourteen express car washes in the Midwest market with 6 under development. To learn more, please visit any Silverstar location or see them online at https://www.silverstarcarwashes.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.