June 11, 2024
NEW YORK & ROSEVILLE, CA. — KKR & Co, a prominent global investment firm, has finalized an agreement to acquire a significant minority stake in Quick Quack Car Wash for $850 million, as announced in an official press release today.
Quick Quack Car Wash, established in 2004 and headquartered in California, operates over 230 locations across California, Texas, Arizona, Utah, and Colorado. The company has gained recognition for its rapid growth and customer-centric approach in the express car wash industry.
The partnership with KKR marks a strategic move aimed at accelerating Quick Quack’s expansion and innovation initiatives. Sam Plotner, Director at KKR, emphasized the firm’s confidence in Quick Quack’s operational model and growth potential: “With its differentiated operating model, strong track record of organic growth, and world-class team, we believe Quick Quack is well-positioned to continue its growth trajectory.”
Jason Johnson, CEO of Quick Quack, expressed enthusiasm about the partnership: “We are pleased to welcome KKR as a strategic partner. Their support is a testament to the impressive business that our team has built and the culture underlying it.”
The investment underscores KKR’s commitment to partnering with industry leaders to drive sustainable growth and operational excellence. Quick Quack plans to utilize the new capital to expand its footprint and enhance its marketing efforts across existing and new markets.
For more information, please visit the official press release.