Holland & Knight Leads Car Wash Private Equity Acquisition in Texas
MIAMI (May 2, 2019) – Holland & Knight represented WhiteWater Express Car Wash, a portfolio company of SkyKnight Capital, in its acquisition of Legends Express Car Wash. The combination creates a top-tier car wash platform with 15 locations in Houston, Dallas, Austin and Tulsa. The deal closed on April 30.
WhiteWater and Legends are both based in Texas and operate express exterior car washes, a highly automated car wash model, and generate a significant portion of revenue from recurring monthly memberships.
Founded in 2015, SkyKnight Capital brings together an experienced investment team and a flexible, long duration approach to private equity investing. The firm's investments to date have consisted of equity commitments ranging from $10 million to over $200 million.
Holland & Knight's representation of WhiteWater was led by Partner Aaron Slavens, who was assisted by Associates Alexandra Briesemeister and Blaine Remmick. The team also included Real Estate Partners Eugene Segrest and Elena Otero.
Attorneys in Holland & Knight's Private Equity Practice act as trusted legal and business advisors to funds, portfolio companies, family offices, independent sponsors and other investors. The practice, which has a mostly middle-market focus, recently launched HK Deal Flow®, a unique program that facilitates deal leads for clients and prospective clients by matching acquisition or capital raising opportunities with buyers and investors.