Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, is pleased to announce the launch of a leading regional express tunnel car wash platform, Mr. Magic Car Wash (“Mr. Magic” or the “Company”). Mr. Magic currently operates 10 locations in the greater Pittsburgh MSA.
To form the Company, Incline has partnered with four local, family-owned car washes: Jerry’s Car Wash, Clean Car Express, Bethel Park Rapid Wash and Mr. Magic Car Wash. These businesses bring decades of experience to the combined platform and several founders remain active to support future growth.
“We are thrilled to partner with local operators to launch a leading express tunnel car wash platform in Pittsburgh and the surrounding areas”, said Brad Phillips, Managing Director at Incline. “There is tremendous opportunity to build further density through developing new sites and partnering with other operators in PA, OH and WV. We look forward to supporting Mr. Magic’s rapid growth and momentum.”
“Our team is incredibly excited to continue to serve our loyal customer base through an expanded footprint,” said Hank Richard, CEO of Mr. Magic. “Working with Incline will allow us to make investments in significant upgrades to elevate the customer experience. Additionally, we plan on expanding our unlimited membership program options and enhancing add-on services across all locations. We are enthusiastic about our next phase of growth, while remaining committed to providing the highest-quality car washes to our devoted customers.”
About Incline Equity Partners:
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm investing in manufacturing, distribution and business services companies. Incline is generally seeking growing companies with enterprise values of $25 – $750 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.
Disclaimer:
Incline Management, L.P. (“IMLP”) is registered with the U.S. Securities and Exchange Commission as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended. Registration as an investment adviser does not imply a certain level of skill or training. IMLP provides investment advisory services only to privately offered funds. IMLP does not solicit or make its services available to the public or other advisory clients. This press release is intended solely to provide information regarding Incline’s potential capabilities for prospective portfolio companies, and is not an offer to sell to any person, or a solicitation from any person of an offer to buy, any securities. The statements contained herein are not statements of any IMLP client fund or investor and do not describe any experience with or endorsement of IMLP as an investment adviser by any such client or investor.
