Harris Williams, a global investment bank specializing in M&A advisory services, advised WhiteWater Express Carwash, a portfolio company of SkyKnight Capital, on its recapitalization by Freeman Spogli.
WhiteWater Express Carwash is a car wash platform with more than 60 locations headquartered in Houston.
Jershon Jones, Jason Bass, Joe Conner, Jonathan Meredith, Nick Petrick and Matt Williamson of Harris Williams’ transportation and logistics group led the transaction.
“We are grateful for the opportunity to work with SkyKnight and the founders of WhiteWater to identify the company’s next equity partner,” Jones, who is a managing director at Harris Williams, said. “Since its founding in 2016, WhiteWater has become an industry-leading platform with an incredibly attractive growth profile, strong entrepreneurial spirit and best-in-class operations. We look forward to watching the company’s continued success in their partnership with the team at Freeman Spogli,”
“The WhiteWater transaction represents the latest deal of scale in the highly attractive car wash sector. Industry tailwinds remain strong, and we expect to see sustained investor interest in the category over the long term,” Conner, who is a managing director at Harris Williams, said.
“We had a great experience working with Harris Williams. Their thoughtful strategy, targeted approach and the exceptional team they brought to the engagement provided us with the support and strategic partnership we needed to achieve a very successful outcome,” Steve Mathis, CEO of WhiteWater Express Carwash, said.