Case Study: Car Wash Advisory Advises $8M Eastern Midwest Car Wash in Sale

“We are thrilled with the end result and the transaction process we were able to facilitate on this deal.”

Harry Caruso, Founder, Car Wash Advisory

Axial Members

Member Type	Family Office	Business Broker
Axial Member Since	2015	2018
Headquarters	Michigan	Miami, FL
Axial Closed Deals	3	1
Axial Profile	Confidential	View Profile

The Business

Location: Eastern Midwest

Description: This express car wash business consists of 19 sites across the Eastern Midwest. With more than 25 years of experience in the car wash industry, the company offers a wide variety of washes and wash packages for its customers.

Reason for exit: The owner had limited bandwidth and was looking to downscale his business. His goal was to retain a select few locations based on convenience.

Car Wash Advisory is a four-person M&A firm focused solely on the car wash industry. The Miami-based advisor focuses on sales, capital raises, and buy-side advisory for both aspiring and established car wash owners. Car Wash Advisory has been an Axial member since 2018, and has represented 58 deals on the platform.

In Q1 2023, Harry Carruso began representing an express car wash business based in the eastern Midwest. The business owner had multiple goals: securing financial returns, downsizing his operations, and maintaining a steady income stream for the future. Rather than recommending the straightforward solution of selling every car wash location, Car Wash Advisory meticulously analyzed the assets, considering buyer liquidity and geographic density, and curated a portfolio of 19 locations for sale. This strategy allowed the original owner to retain 5 locations that, although less attractive to buyers, were of significant personal interest to him.

After kicking off the deal process on Axial, Car Wash Advisory reached out to 154 recommended targets and ultimately connected with a family office in Q3 of 2023. After a 145-day deal process, Car Wash Advisory closed the deal between its client and the Axial-sourced buyer.

Axial Deal Data