Bubble Down Car Wash has secured a $200 million capital commitment from Strategic Capital, an investment strategy within BTG Pactual Global Alternatives, to fund acquisitions and new development across Florida and the Southeast.
The Tampa-based company, which operates eight express car washes in the Tampa Bay region, said it will use the investment to acquire existing operators, develop additional locations and invest in technology and infrastructure. Terms of the transaction beyond the capital commitment were not disclosed.
The funding comes as private equity firms and institutional investors continue backing regional car wash operators that are expanding through acquisitions. Bubble Down said the investment will allow it to play a larger role in that consolidation.
“When we started Bubble Down, we weren’t interested in building another car wash company,” founder and Chief Executive Officer Bryan Zinober said. “We set out to build something exceptional, a business that would stand the test of time, and one that our team members, customers, families and communities could be proud of for generations.”
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James Frank, head of Strat Cap at BTG Pactual Global Alternatives, said Bubble Down’s operating model and disciplined growth strategy made it an attractive investment.
“Bubble Down has built a strong asset base with a clear focus on operational excellence, customer experience and disciplined expansion,” Frank said. “We are excited to partner with Bryan and his team to provide capital to support the Company’s long-term, sustainable growth.”
BTG Pactual is Latin America’s largest investment bank. Its Global Alternatives business manages approximately $11.5 billion in assets, according to the firm.
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