Access Holdings, a Baltimore-based mid-market investment firm, has announced a $600 million capital raise to fund the growth of portfolio company Spotless Brands, a US-based express car wash platform. The capital will be used to scale operations in new and existing markets, including via M&A.
Access partnered on the capital raise with Wafra Inc (Wafra), a global alternative investment firm with significant experience in the car wash industry, having previously grown El Car Wash into a leading express car wash platform in South Florida.
Established in 2019, in only four years Spotless Brands has expanded its presence from a single market comprised of 24 sites to over 140 sites operating in nine markets.
