Everside Capital Partners Announces Investment in Sparkle Express Car Wash Group, Inc.
March 2024
Everside is pleased to announce the closing of its investment in Sparkle Express Car Wash Group, Inc. (“Sparkle” or the “Company”). At the time of the investment, Sparkle was a newly formed entity comprising of 18 express car washes, serving more than three million clients across its footprint. The Company provides retail washes and memberships with a recurring monthly fee for unlimited washes. Headquartered in Augusta, Georgia, the Company has additional car wash locations in South Carolina and Illinois.
Everside is excited to partner with Sparkle, along with a New York-based Small Business Investment Company (SBIC). This partnership supported the acquisition of the Company as it looks to continue to optimize operations and expand in existing and new geographies. Furthermore, this partnership reflects Everside’s commitment to investing in businesses with deep industry expertise and high growth potential, which we believe delivers value to all stakeholders.
Everside is an SEC-registered investment advisor, as well as a SBIC (Small Business Investment Company) license holder based in New York, NY. With over $1.9 billion in assets under management across its funds, Everside partners with leading SBIC managers in the lower middle market through its primary and secondary investing strategies, and also makes direct credit and equity investments in small businesses through its direct investing strategies. As a flexible capital provider, Everside offers debt and structured equity solutions for recapitalizations, acquisitions, liquidity events, and management buyouts.
For more information, please visit us at everside.com.
*This communication is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security or of any fund or account Everside Capital Partners, LLC (the “Adviser”) manages or offers. Although the information provided herein has been obtained from sources which the Adviser believes to be reliable, we do not guarantee its accuracy, and such information may be incomplete or condensed. The information is subject to change without notice and the Adviser has no obligation to update you.
This document should not be the basis of an investment decision. An investment decision should be based on your customary and thorough due diligence procedures, which should include, but not be limited to, a thorough review of all relevant term sheets and other offering documents as well as consultation with legal, tax and regulatory experts. Statements made in this release include forward-looking statements which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” or believe,” or other variations thereon. Certain information contained herein constitutes opinions, intentions, or beliefs of the Adviser, which may be preceded by the terms “belief,” “opinion,” or other similar terms. Such statements of “opinion” merely represent the Adviser’s state of mind and should not be construed as a material statement of fact. Any use of adjectives or superlatives included herein are a good faith opinion of the Adviser including but not limited to language such as “exhaustive,” “superior,” or “leading,” and should not be construed as material statements of fact. Further, other third parties may not agree with the opinions of the Adviser.