Private equity firm Sentinel Capital Partners has recapitalised Sonny's Enterprises, a provider of conveyorised car wash systems.
Terms of the deal were have been disclosed.
Established in 1949, Sonny's is the largest global manufacturer of conveyorised car wash systems. Sonny's designs and manufactures car wash systems in its 135,000 sq ft facility in Tamarac, Florida and will continue to be managed by the same family that has run the business since its inception.
“Sonny's is a leading car care platform with strong development and design capabilities, a record of innovation, and unparalleled customer relationships,” says Scott Perry, a partner at Sentinel. “Sonny's offers an impressive breadth of products and has built longstanding sales relationships and distribution channels throughout North America. We are very excited about this investment and the opportunity to partner with Sonny's outstanding management team. We see a bright future for Sonny's, which has an exciting opportunity to grow organically and through acquisitions.”
“Sonny's will continue to execute on the vision and plan that my father set for the company – to be the premier provider of car care products to car wash professionals,” says Sonny's CEO Paul Fazio. “Sentinel was very different from any other firm that contacted me in the past. From the first conversation, it was clear that a partnership with Sentinel will allow Sonny's to accelerate its rapid growth record and to expand the number of world class products and services to our clients.”
Besides Sonny's, Sentinel has made four other new platform investments in the last 12 months: Quick Weight Loss Centers, a multistate provider of weight loss management services; Revenew International, a provider of cost recovery and cost containment services; The Luminaires Group, a North American manufacturer of specification-grade lighting products; and Marketplace Events, a business services company that is the largest operator of consumer home and garden shows in North America.
