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Crain’s Detroit Business: Private equity suddenly loves car washes, and its latest darling is coming to Michigan
A growing car wash chain is looking to clean up in Southeast Michigan with dozens of new locations planned in the region. El Car Wash, based in Miami, through a local developer has tied up around 50 sites for new car washes from Detroit to Flint to Lansing by either placing them under contract or…
Read MoreCrain’s Detroit Business: Jax Kar Wash expanding with Birmingham private equity stake
A Birmingham-based private equity firm is taking an ownership stake in Southfield-based Jax Kar Wash to fuel the company’s expansion, Crain’s has learned. Jason Milen, CEO and third-generation owner of the 69-year-old company, said TRP Capital Partners closes on its equity stake on Monday, but declined to specify the ownership percentages of the two firms after…
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