Acquisition of AutoShine
Generation Growth Capital, Inc. and Harrell’s Car Wash Systems, Inc. Announce the Acquisition of AutoShine of New England, LLC
FOR IMMEDIATE RELEASE
Milwaukee, WI – January 20, 2020. Generation Growth Capital Fund III, LP (“GGC”), a Milwaukee-based private equity firm that invests in lower middle market companies, and Harrell’s Car Wash Systems, Inc. (“Harrell’s”), one of the nation’s largest full-service distributors of car wash systems and supplies, today announced the acquisition of AutoShine of New England (“AutoShine”). Terms of the deal were not disclosed.
AutoShine is headquartered in Manchester, Connecticut and is focused on selling, installing, and servicing car wash systems in addition to parts, chemicals, and ancillary items needed to operate car washes. AutoShine is the fourth add-on to join the Harrell’s platform. Frank Carpino, President of AutoShine, will continue to manage the company going forward.
“Through our active acquisition strategy over the past few years, Harrell’s has accelerated into an industry-leading distributor and service provider of car wash systems and products. AutoShine complements the Harrell’s gold standard in end-to-end car wash solutions and solidifies our market position in the Northeast U.S.,” said John Reinke, Managing Director of Generation Growth Capital, Inc.
“As our company continues to grow, we look forward to finding ways to expand our product and service offerings in ways that add value to our customers. We really value the relationships that we have with customers. AutoShine brings a new product line to us and a strong technical expertise in tunnels that complements our Northeast region nicely. We are very excited about the trajectory of our company and the growth prospects we see throughout all of our markets,” said Chad Tearman, President of Harrell’s Car Wash Systems, Inc.
About Generation Growth Capital Fund III, LP
Generation Growth Capital Fund III, LP is a Milwaukee-based private equity firm focusing on investments in small businesses to support ownership transition and growth opportunities. By partnering with solid management teams, GGC adopts a proactive, collaborative approach that builds the businesses in which they invest.
On behalf of Generation Growth Capital Fund III, LP:
John Reinke, Managing Director
Generation Growth Capital, Inc.
firstname.lastname@example.org | (414) 291-8915
On behalf of Harrell’s Car Wash Systems, Inc.:
Chad Tearman, President and CEO
Harrell’s Car Wash Systems, Inc.
email@example.com | (317) 271-0017