GRIMES, Iowa — National Carwash Solutions (NCS), a provider of car wash equipment, services and solutions to customers in North America, has entered into a recapitalization transaction with investment firm Berkshire Partners. The companies did not disclose the terms of the transaction.
"We are excited to collaborate with Berkshire Partners in the next chapter of our growth," said Michael Gillen, CEO of NCS.
NCS provides its customers with car wash systems, aftermarket parts, cleaning fluids and vacuums supported through its distribution and services footprint. The company goes to market with an integrated portfolio of brands, including MacNeil Wash Systems, Ryko Solutions, CleanTouch Cleaning Solutions, Cleaning Systems Inc., TSS Car Wash Services and Vacutech Vacuums.
"We are thrilled to partner with Mike and his team," said Larry Hamelsky, managing director of Berkshire Partners. “NCS has built a unique and compelling position in the industry, and we share the team’s vision of delivering superior value to car wash operators by providing an integrated, end-to-end suite of products and solutions.”
Berkshire Private Equity acquired its position in the company from AEA Investors. BlackArch Partners served as exclusive financial advisor for NCS and Weil, Gotshal & Manges LLP advised Berkshire Partners on the transaction.
Berkshire Partners, a Boston-based investment firm, has made more than 130 private equity investments since its founding more than 30 years ago. Berkshire Private Equity has developed sector experience in multiple areas including business services and technology, communications, consumer, healthcare and industrials.
Founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co., AEA Investors LP manages funds that have approximately $15 billion of invested and committed capital including the leveraged buyouts of middle-market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across three sectors--value added industrials, consumer and services. AEA SBF manages more than $1.8 billion of invested and committed capital.
NCS, based in Grimes, Iowa, is a full-service fluids and systems provider to the vehicle care industry, serving customers in North America for more than 45 years, and supporting car wash operators who wash millions of vehicles every year. The company provides comprehensive systems and aftermarket support, including service, parts and environmentally friendly cleaning fluids. NCS operates a family of brands that provide systems, nationwide support and a complete chemical line, including MacNeil Wash Systems, Ryko Solutions, Cleaning Systems Inc. (CSI), CleanTouch Cleaning Solutions, NCS College of Clean, and Vacutech. The company also has strategic partnerships with many top car wash distributors in North America, including Arizona Car Wash Systems, Auto-Clean, Badger Land, Complete Car Wash, Hi-Performance Wash Systems and NuLook.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.