Wednesday, December 30, 2020

TIDAL WAVE INKS DEAL WITH PRIVATE EQUITY INVESTMENT FIRM

Tidal Wave Auto Spa Founder & CEO Scott Blackstock and Golden Gate Capital, a leading private equity investment firm, today announced the recapitalization of Tidal Wave, one of the largest and fastest growing premium conveyor car wash systems in the nation. 

Mr. Blackstock will continue to lead the Company as CEO and will remain a significant shareholder. The company will continue to be headquartered in Thomaston, Georgia. 

Founded in 1999 by Scott and Hope Blackstock, Tidal Wave’s current footprint includes over 60 locations in eleven states in the Southeast and Midwestern United States with 18 more wash locations under construction. Tidal Wave is a recognized leader in the car wash industry with its innovative use of technology and unwavering dedication to an excellent customer experience. “We are very pleased about the partnership with Golden Gate Capital,” said Mr. Blackstock. “With its long and successful history of investing in multi-unit businesses and considerable financial strength, the partnership will enable us to accelerate our growth.” “Being able to build this business right here in Thomaston and Upson County has always been so important to both Hope and myself,” Mr. Blackstock continued. “The level of talent in our hometown is phenomenal and has been essential to our success. Thomaston is truly the best small town in the best state for business.” 

The Tidal Wave Auto Spa home office is located in downtown Thomaston. The refurbished two-story building houses over 40 employees who manage all aspects of the car wash business. Starting with concept, permitting, and construction, to operations, human resources, payroll, quality control, marketing, supply distribution, accounting, and customer service. Tidal Wave Auto Spa was ranked #6 in the 2020 Top 50 List of Conveyor Carwashes published annually by Professional Carwashing & Detailing magazine. 

Tidal Wave is also listed as one of America’s Fastest Growing Private Companies on Inc. 5000’s 2020 list. Scott Blackstock, CEO was named SBA Georgia District Small Business Person of the Year in 2009

No comments:

Post a Comment