Atlantic Street Capital and ICG Reinvest in Zips Car Wash
May 17, 2022
Atlantic Street Capital has increased its investment in portfolio company Zips Car Wash, acquiring equity from founding shareholders and rolling/increasing its GP commitment alongside lead investor ICG and other partners. The recapitalization funds continued organic growth, strengthens the leadership team, and supports Zips' strategy to expand sites and accelerate acquisitions in a fragmented car wash market.
- Buyers
- Atlantic Street Capital, ICG
- Targets
- Zips Car Wash
- Sellers
- Founding shareholders
- Industry
- Automotive
- Location
- Texas, United States
- Transaction Type
- Recapitalization
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El Car Wash acquired six ZIPS Car Wash sites (including ZIPS Orlando locations and SPIN Car Wash Broward locations) on February 12, 2025, expanding its footprint in Florida. The deal transfers the assets, customer base and operations of the acquired sites to El Car Wash as it deepens its presence in key Florida markets.
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ZIPS Car Wash Acquires Heroes Car Wash and Rocket Wash Express Locations in North Carolina
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Atlantic Street Capital Makes Growth Investment in Zips Car Wash
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Atlantic Street Capital has made a growth-oriented investment in Zips Car Wash, partnering with founder Brett Overman while he remains the majority owner. The capital will support Zips' expansion of its express tunnel car wash platform (185 locations, 17 states) and efforts to grow membership and reach a target of over 500 locations.
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Zips Car Wash Acquires Three Blue Iguana Car Wash Locations
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