National Carwash Solutions
Driving Clean, Shiny and Dry Service as a Market-Leading Innovator
In 2017, AEA Enterprise Partners (“AEA Enterprise”) invested in National Carwash Solutions (“NCS”), a leading player in the North American carwash services, consumables and equipment industry. The company holds market leading positions in carwash systems, aftermarket cleaning fluids, replacement parts and essential field repair and maintenance services to both the car wash and convenience store industries.
AEA Enterprise identified NCS’ ability to bundle systems with recurring aftermarket service, parts and cleaning fluids offerings to drive customer stickiness and create a strong base of recurring revenue. NCS was able to continue its strong organic growth trajectory, while establishing itself as the industry’s acquirer of choice, completing 10 acquisitions to develop the industry’s first vertically-integrated bundled solution. These acquisitions created best-in-class brands across equipment, cleaning fluids, services and distribution, which greatly increased product breadth, depth and geographic reach. Under Enterprise’s ownership, NCS developed leading customer education (College of Clean) and new-to-industry investor (Continuum) programs and invested in technology, which drove further adoption of NCS’ products and services. AEA Enterprise also supported leadership in expanding the management team and sales force by recruiting key talent, including a Chief Human Resources Officer and Head of Chemical Sales, while also investing in a dedicated Business Development team.
Created Value
10
Acquisitions, creating first end-to-end solution for the entire car wash ecosystem
300+
Field service technicians in nationwide network, the largest in the car wash industry
2.5x
Growth in aftermarket sales
2
AEA participant board members who provided strategic thought leadership to accelerate both organic and inorganic growth
“We’d established leading positions in both car wash systems and aftermarket services, but had a vision to develop the industry’s first one-stop solution. AEA Enterprise worked side-by-side with us to go after that goal – always with a long-term view. They challenged us to invest in our team ahead of growth and build out our product and market map, providing collaborative support and guidance to help us execute on our strategic plans.”