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AEA SBF Acquires National Carwash Solutions
New York – April 30, 2017 – AEA Investors’ (“AEA” or the “Firm”) Small Business Fund (“AEA SBF”) announced today that its fund has closed the acquisition of National Carwash Solutions (“NCS” or the “Company”), a leading provider of carwash services and equipment in North America.
Headquartered in Grimes, Iowa, NCS holds market leading positions in both carwash systems and aftermarket services and developed the industry’s first bundled solution, offering equipment systems, aftermarket parts and services, and distribution of cleaning fluids through the industry’s largest national footprint. NCS provides the broadest range of systems in the industry, with strong positions in both the in-bay automatic and tunnel segments through its Ryko and MacNeil brands. By offering a comprehensive range of systems from a functionality, size and price point perspective, NCS is able to meet the needs of a broad range of customers and national accounts with diverse requirements, including leading convenience store and retail carwash operators. NCS’ proprietary, environmentally-friendly CleanTouch cleaning fluid solutions assures its customers’ systems provide a clean wash, and NCS’ national service network helps guarantee high customer uptime and performance.
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors (“Participants”) and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 70 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $10 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across three sectors: value added industrials, consumer, and services. AEA SBF is a strategy within AEA that currently manages nearly $1.0 billion of invested and committed capital. The team seeks to help grow and transform companies at the lower end of the middle market by sponsoring growing companies with proven management teams and superior business models.
About National Carwash Solutions
NCS is the market leading service and systems provider to the North American car wash industry. The Company has established the only direct, end-to-end customer service and support network with over 250 service technicians nationwide. NCS offers a complete line of CleanTouch cleaning fluid solutions, water treatment systems and accessories. The Company also offers the widest selection of car wash systems, accessories and parts under the Ryko and MacNeil brands. Founded in 1973, NCS is headquartered in Grimes, Iowa, and employs approximately 500 people across North America.
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Jon Keehner, Julie Oakes and Kate Clark
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