National Express Wash Completes Acquisition of El Car Wash
MIAMI–(BUSINESS WIRE)–Wafra Inc. (“Wafra”), Audrose Partners and Fireside Investments today
announced the formation of National Express Wash, LLC (“National Express
Wash”), an express car wash investment platform. National Express Wash
will use an acquisition and development model to build a dynamic
portfolio of express car washes with attractive underlying real estate
in strategic geographies throughout North America.
In conjunction with the formation of this platform, National Express
Wash announced its first acquisition with the purchase of El Car Wash,
the leading owner and developer of express car wash locations in Miami
and the broader South Florida market.
“This acquisition represents an exciting stepping stone for National
Express Wash,” said Justin Landau and Geoffrey Karas, who respectively
serve as the Chief Executive Officer and President of the company. “We
look forward to working in partnership with Wafra and Fireside to
accelerate store growth in Miami and to expand the National Express Wash
portfolio into new markets.”
“We are thrilled to launch the National Express Wash platform,” said
Russell Valdez, Chief Investment Officer of Wafra. “We believe the
express car wash market is an attractive sector with strong alternative
real estate characteristics, and we look forward to working with this
talented team to assemble a robust portfolio throughout North America.”
Jonathan Langer, Founder and Managing Member of Fireside Investments,
added, “We are pleased to partner with Wafra and Audrose in this
exciting launch and first acquisition. The El Car Wash acquisition lays
a strong foundation to add to the platform in South Florida as well as
in markets with similar characteristics.”
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National Express Wash
National Express Wash is a newly launched platform that is building a
portfolio of market-leading express car wash businesses located in major
North American markets. National Express Wash focuses on acquiring and
developing express car washes with attractive underlying real estate.
Justin Landau and Geoffrey Karas are Co-Founders of National Express
Wash and serve respectively as the Chief Executive Officer and President
of the company.
About Wafra Inc.
Wafra has more than $23 billion of assets under management and invests
across a wide range of asset classes. In its pursuit of investments,
Wafra seeks to connect its investors, partners and stakeholders to
foster an exchange of ideas and innovations. Wafra’s investment
strategies are supported by professionals headquartered in New York and
located in other financial centers who express the long-term vision of
Wafra’s stakeholders to alternative investments and private equity. For
more information please visit www.wafra.com.
About Audrose Partners
Audrose Partners is a private investment company co-founded by Justin
Landau and Geoffrey Karas focused on identifying long-term value
creation opportunities in operationally-intensive, thematic businesses.
About Fireside Investments
Fireside Investments is a private investment firm focused on making
investments in durational real estate operating businesses alongside
leading management teams and investment partners. For more information
please visit www.firesideinvestments.com.
Edelman for Wafra