Mammoth Holdings Opens Silverstar Car Wash in Fargo, ND Market

Rhea-AI Summary

Mammoth Holdings LLC (MAMH), America's premier express car wash platform, recently opened its newest location, Silverstar Car Wash in Fargo, North Dakota. The company's dual growth strategy of developing greenfield locations and acquiring existing brands has resulted in the opening of the 11th greenfield site this year, aligning with the goal of 500 sites. With six locations in the Fargo market, the new site aims to become a go-to destination for car owners in the area, marking the 23rd Mammoth location under the Silverstar Car Wash brand. Mammoth Holdings operates 123 locations and has a multi-brand portfolio, including significant growth capital and active acquisition opportunities. The company has partnered with Red Dog Equity LLC, Oak Hill Advisors, and CCMP for equity and debt financing.

Positive

• Mammoth Holdings has successfully opened its 11th greenfield location this year, showcasing strong growth and expansion strategies.
• The company's focus on customer service and operational excellence is evident in the opening of the state-of-the-art Silverstar Car Wash in Fargo, North Dakota.
• Mammoth Holdings' partnership with Red Dog Equity LLC, Oak Hill Advisors, and CCMP demonstrates strong financial backing and capital for future development initiatives.

Negative

• None.

DALLAS, Dec. 11, 2023 /PRNewswire/ -- Mammoth Holdings LLC, America's premier express car wash platform, announced the recent opening of its newest location, Silverstar Car Wash in Fargo, North Dakota. The new site aligns with Mammoth's dual growth strategy of developing greenfield locations while also acquiring existing brands.

Mammoth Holdings Opens Silverstar Car Wash in Fargo, ND Market

"We're pleased to serve the Fargo area with a state-of-the-art facility and world class customer service," said Dave Hoffmann, Chairman and CEO of Mammoth Holdings. "The newest location is the company's 11th greenfield opening this year and represents another step forward towards our goal of 500 sites."

With six locations now in the Fargo market, this new site is set to become a go-to destination for car owners in the area, providing convenience and top-notch service to every car and every customer. The site is the 23rd Mammoth location under the Silverstar Car Wash brand.

Mammoth Holdings is the first car wash platform formed by industry insiders and has 123 operating locations. Mammoth is customer-focused operationally; operator-focused in its approach to acquisitions; and seeks to be the partner-of-choice for car wash operators who desire liquidity, growth capital, and a tax-deferred equity investment opportunity. 

Mammoth Holdings' multi-brand portfolio includes Busy Bee Car Wash, Coastal Carwash, Finish Line Car Wash, In & Out Express Carwash, Jax Kar Wash, Lulu's Express Car Wash, Marc-1 Car Wash, Mr. Squeaky Car Wash, Pals Carwash, Pitstop Car Wash, PureMagic Carwash, Silverstar Car Wash, Speedy Clean Car Wash, Suds Car Wash, Swifty Car Wash, Ultra Car Wash, Wash Me Fast, Wash-N-Go Express Car Wash, and Wiggy Wash.  

Mammoth has significant growth capital and is actively seeking acquisitions and development opportunities. 

In October 2018, Mammoth partnered with Red Dog Equity LLC, an Atlanta-based private equity firm, which, through its partnership with Tom Pritzker's family business interests (Advised by The Pritzker Organization), provides the equity for Mammoth Holdings' corporate development initiatives. Oak Hill Advisors and CCMP provide Mammoth Holdings' debt financing.

About Mammoth Holdings
Headquartered in Dallas, Mammoth Holdings operates 121 conveyor car washes under the Busy Bee Car Wash, Coastal Carwash, Finish Line Car Wash, In & Out Express Carwash, Jax Kar Wash, Lulu's Express Car Wash, Marc-1 Car Wash, Mr. Squeaky Car Wash, Pals Carwash, Pitstop Car Wash, PureMagic Carwash, Silverstar Car Wash, Speedy Clean Car Wash, Suds Car Wash, Swifty Car Wash, Ultra Car Wash, Wash Me Fast, Wash-N-Go Express Car Wash, and Wiggy Wash brands in Georgia, Alabama, Kentucky, Illinois, Utah, South Carolina, Mississippi, Louisiana, Indiana, Missouri, Tennessee, North Dakota, South Dakota, Iowa, Nebraska, and Florida. 

Mammoth Holdings was founded by Gary Dennis and Chip Hackett in 2002. To learn more, please visit mammothholdings.com. 

About OHA
OHA is a leading global alternative investment firm specializing in private lending, distressed credit, structured credit, real assets, special situations, leveraged loans and high yield bonds. OHA manages approximately $63 billion of capital across credit strategies in pooled funds, collateralized loan obligations and single investor mandates as of September 30, 2023. The firm's global, primarily institutional investor base includes pension funds, sovereign wealth funds, insurance companies, foundations, endowments, fund of funds, family offices and high net worth individuals. OHA is the private markets platform of T. Rowe Price Group, Inc. (NASDAQ – GS: TROW). For more information, please visit Oak Hill Advisors.

About Red Dog Equity LLC
Red Dog Equity LLC is a private equity firm that invests in lower middle-market companies poised for strong growth in partnership with driven, entrepreneurial business leaders ("Red Dogs"). To learn more, please visit reddogequity.com.

About CCMP Growth Advisors
CCMP Growth Advisors, LP ("CCMP Growth") is a New York based growth-oriented private equity firm focused on making lead buyout and growth equity investments in middle-market companies in the Consumer and Industrial sectors primarily in North America. CCMP Growth leverages the deep investment experience of its team to identify high growth companies in transition, and partners with management to help each platform scale through strategic and operational support.

About The Pritzker Organization
The Pritzker Organization is the merchant bank for the business interests of the Tom Pritzker family. Additional information can be found at pritzkerorg.com. 

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SOURCE Ultra Car Wash

FAQ

How many locations does Mammoth Holdings currently operate?

Mammoth Holdings operates 123 locations.

What is the goal of Mammoth Holdings in terms of the number of sites?

The company aims to reach 500 sites as part of its growth strategy.

Who are the financial partners of Mammoth Holdings?

Mammoth Holdings has partnered with Red Dog Equity LLC, Oak Hill Advisors, and CCMP for equity and debt financing.

What is the name of the newest location opened by Mammoth Holdings?

The newest location is Silverstar Car Wash in Fargo, North Dakota.

How many greenfield locations has Mammoth Holdings opened this year?

Mammoth Holdings has opened 11 greenfield locations this year.

What is the total number of brands under Mammoth Holdings' portfolio?

Mammoth Holdings' multi-brand portfolio includes 18 car wash brands.