Gas N Wash, a gas station, convenience store and car wash retailer, has received an investment in a tranche of growth capital financing from alternative asset manager Bow River Capital in partnership with Freedom 3 Capital, which led the transaction.
Based in Frankfort, Illinois, family-owned Gas N Wash was founded in 2012 and has expanded to more than 28 locations, including four Food N Fuel stores without car washes in the greater Chicago metropolitan area, exclusively through new developments. The company’s brand identity is “upscale, spacious, clean, welcoming and part of customers’ routines,” it said.
“Gas N Wash has a successful track record of building new facilities with a meticulous focus on operational excellence, as well as delivering a consistently high-quality, one-stop shop, customer experience,” said Aaron Arnett, managing director of Bow River Capital.
In June 2023, Bow River Capital announced the formation of its private credit team, including private credit professionals Eli Muraidekh, Aaron Arnett and Joshua Apfel. The firm has also assembled a private credit investment committee, which, in addition to Muraidekh and Arnett, includes Richard Thackray, president of Bow River; Jeremy Held, head of Bow River’s Evergreen Strategies; and dviser Jonathan DeSimone.
“We are delighted to add Gas N Wash as our fourth platform investment and are excited to be partnering with Freedom 3 to support the continued growth of the business,” said Eli Muraidekh, head of the private credit team of Bow River Capital, Denver.
Bow River Capital is a private alternative asset manager focused on investing in the lower and middle market in four asset classes: private credit, private equity, real estate and software growth equity.
Freedom 3 Capital, New York, invests in North American middle market companies to support strategic development and growth opportunities. It offers credit investment structures to family/entrepreneur-owned companies.
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