Harris Williams Advises Mammoth Holdings on the Recapitalization of its Conveyor Car Wash Platform
Harris Williams, a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it advised Mammoth Holdings, LLC (Mammoth) on its recapitalization by Red Dog Equity LLC (Red Dog). Red Dog, through its partnership with Tom Pritzker’s family business interests (advised by The Pritzker Organization), purchased a controlling interest in Mammoth and provided the equity for the acquisitions of Birmingham-based Marc-1 Car Wash and Atlanta-based Wash Me Fast, LLC. Mammoth, an Atlanta-based conveyor car wash operator, has formed a 22-unit platform with these acquisitions. The transaction was led by Jason Bass, Jershon Jones and Trey Balson of Harris Williams.
“We are pleased to have advised Mammoth in the formation of its new platform. Red Dog will make a great partner to Mammoth as it enters its next phase,” said Jason Bass, a managing director at Harris Williams. “The car wash sector is highly fragmented and Mammoth is well-positioned for above-market growth with several strong brands under common ownership. Mammoth, with support from Red Dog, will be a leading national consolidator across the industry.”
“Mammoth further extends Harris Williams’ experience in the car wash sector,” added Jershon Jones, a director at Harris Williams. “We continue to see significant activity in the space and look forward to watching Mammoth’s future success in partnership with Red Dog.”
Headquartered in Atlanta, Georgia, Mammoth Holdings operates 21 express conveyor car washes and 1 flex service car wash under the Swifty, Ultra, Pals, QuickWash Express, Marc-1 and Wash Me Fast brands in Georgia and Alabama. Mammoth was founded by Gary Dennis and Chip Hackett in 2002. Swifty is the official car wash of the University of Georgia Athletics.
Red Dog is a private equity firm that invests in lower-middle market companies poised for strong growth in partnership with driven, entrepreneurial business leaders (“Red Dogs”).
Harris Williams (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.