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…