KKR, a worldwide investment business, and Quick Quack Car Wash have revealed that KKR-managed investment funds have made a significant minority investment in the company.
Along with KKR, Quick Quack’s founders and longstanding equity partner Seidler Equity Partners (Seidler) will maintain sizable shares in the business.
Go deeper with GlobalData
Through creativity, marketing, and organic growth in both new and existing areas, Quick Quack will continue to accelerate its growth with the backing of this new investment.
Quick Quack is a fast-growing express style car wash chain in the United States, with over 230 facilities in California, Texas, Arizona, Utah, and Colorado. It was founded in 2004.
Through funds and accounts overseen by its Strategic Investments Group, KKR made its primary investment in Quick Quack.
KKR, Seidler, and Quick Quack’s founders will help the company create a widespread team member ownership scheme.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThis strategy is founded on the premise that team member involvement through ownership is a critical factor in establishing stronger businesses.
Since 2011, more than 40 KKR portfolio businesses have distributed billions of dollars in total stock value to over 100,000 non-senior management employees.
Sam Plotner, director at KKR stated: “With its differentiated operating model, strong track record of organic growth and world-class team, we believe Quick Quack is well-positioned to continue its growth trajectory. We look forward to working with the Quick Quack and Seidler teams to continue to drive growth by building upon on the strong foundation that they have established over the past two decades.”
“We are pleased to welcome KKR as a new strategic partner. Their support is a testament to the impressive business that our team has built and the culture underlying it,” said Jason Johnson, CEO of Quick Quack.
“KKR stood out for its breadth of expertise and commitment to supporting our business holistically. We are confident that having access to KKR’s extensive industry knowledge and resources in addition to Seidler’s continued support will benefit our mission of ’changing lives for the better’ and being ’fast, clean, loved…everywhere’.”
Eric Kutsenda, managing partner at Seidler added: “We look forward to the continuation of our long partnership with Quick Quack. The addition of KKR and their impressive resources signifies an exciting new chapter in the Quick Quack story.”
Quick Quack’s financial advisers were Goldman Sachs & Co. LLC and William Blair & Company LLC, while O’Melveny & Myers LLP served as its legal adviser. Simpson Thacher & Bartlett LLP provided legal guidance to KKR.
