Richardson invests in fast growing car wash operator

Richardson has invested in GO Car Wash Group, an automated car wash operator in the US.

Founded in 2019 and headquartered in Denver, the group has grown rapidly and operates nearly 100 car washes across seven states, making it the fifth largest car wash operator in the US.
 
Expected to turnover close to $200m in 2022, the management team behind GO Car Wash says they were inspired in their approach by Caroll Shelby, the first American to win the Le Mans 24-hour race and recently portrayed by Matt Damon in the film ‘Le Mans ‘66’.  
 
The business says it has ambitious plans to continue its rapid growth, with this investment helping to facilitate future acquisitions and expansion.
 
A spokesperson for RCL Partners, the retained advisors to the Richardson Family who advised on the deal said: “The management team have done a phenomenal job in successfully scaling the business up in less than three years of operations, and they have an exciting vision to be the world’s most admired car wash company.

“The US is one of our key strategic markets for the future, and our investment in GO Car Wash complements other investment stakes we hold in businesses based across the US, from New York and the East Coast, through Chicago and the Mid-West and over to San Diego and the West Coast.”