New York – January 5, 2021 – AEA Investors’ (“AEA” or the “Firm”) Small Business Fund (“AEA SBF”) announced today that its fund has completed the sale of National Carwash Solutions (“NCS” or the “Company”) to a financial sponsor. NCS is a leading player in the North American carwash services and equipment industry.
Headquartered in Grimes, IA, NCS holds market leading positions in carwash systems, aftermarket cleaning fluids, replacement parts, and essential field services. 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 with diverse requirements, including convenience stores and carwash operators. NCS is the first and only company to offer a vertically integrated, end-to-end solution to the entire carwash ecosystem. NCS completed 10 acquisitions under AEA’s ownership that have helped expand the Company’s product offering, strengthen its geographic footprint and grow its aftermarket and cleaning fluid sales.
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 90 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $15 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 $1.8 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, providing carwash systems, aftermarket parts and cleaning fluids and marketing / signage to carwash operators and convenience stores. The Company has established the only direct, end-to-end customer service and support network with over 280 service technicians nationwide. Founded in 1973, NCS is headquartered in Grimes, IA, and employs approximately 900 people across North America.
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