Grimes, IA, April 04, 2017 (GLOBE NEWSWIRE) --
National Carwash Solutions Partners with AEA Investors
Grimes, Iowa – (April 4, 2017) – National Carwash Solutions (NCS), the nation’s largest manufacturer of commercial car wash systems, cleaning fluid solutions and maintenance services announced its management team has partnered with AEA Investors in a strategic recapitalization to accelerate the growth of the company and expand the products and services NCS provides its customers.
AEA Investors is a global private equity firm that focuses on industrial products, chemicals and consumer retail sectors. Previously, NCS was owned by Trivest Partners. BlackArch Partners was retained by Trivest Partners and NCS management to serve as their exclusive financial advisor.
“We are excited to have partnered with AEA Investors. This transaction will allow us to continue to strengthen our leadership position within the industry and best position us for growth in the coming years,” said Michael Gillen, CEO of National Carwash Solutions. “We had an immediate connection with AEA. It was apparent there was a great fit between our two companies. We found their expertise ideal for our long-term vision to provide innovative solutions that make our customers successful.”
“We truly enjoyed working with NCS and being a part of their growth strategy,” said Russ Wilson, partner with Trivest Partners. “We are happy that AEA Investors is on board to continue the growth of NCS at this juncture of their history.”
A definitive agreement has been signed and the closing is subject to HSR and standard closing conditions.
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About National Carwash Solutions
National Carwash Solutions (NCS) is the market leading service and systems provider to the North American car wash industry. NCS has established the only direct, end-to-end customer service and support network with over 250 service technicians nationwide. NCS offers a complete line of CleanTouch cleaning fluid solutions, RO & Reclaim systems and accessories. NCS also offers the widest selection of car wash systems, accessories and parts under the Ryko and MacNeil brands. Founded in 1973, NCS is headquartered in Grimes, Iowa, and employs approximately 500 people across North America. To learn more, please visit NationalCarwashSolutions.com, MacNeilwash.com and Ryko.com
About AEA Investors
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA’s active individual investors (the “Participants”) include an extraordinary network of more than 75 of the world’s leading industrial families, business executives and former government leaders. Today, AEA’s approximately 60 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $10.0 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across four sectors: value added industrial products, specialty chemicals, consumer/retail and services. For additional information, please visit aeainvestors.com
About Trivest Partners
Trivest Partners is a private investment firm that focuses on partnering with founder/family-owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 250 transactions, totaling almost $6 billion in value. For additional information, please visit trivest.com.
About BlackArch Partners
BlackArch Partners is a leading middle-market investment bank offering merger and acquisition, strategic advisory and private capital solutions to financial sponsors, private companies and diversified corporations. Please visit blackarchpartners.com for more details.