Harris Williams Advises Flagstop Car Wash on its Recapitalization by Garnett Station Partners
January 13 2023 - 10:03AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised Flagstop Car Wash
(Flagstop) on its recapitalization and growth capital investment by
Garnett Station Partners, LLC (Garnett Station). Flagstop is a
rapidly expanding express car wash platform with 14 locations in
Central Virginia. The transaction was led by Jershon Jones and Matt
Williamson of the Harris Williams Transportation & Logistics
(T&L) Group.
“This transaction represents another marquee deal in the highly
attractive car wash sector. Flagstop is a premier regional platform
that is well-positioned for long-term growth. We are incredibly
excited about the partnership between Flagstop and Garnett Station
and look forward to seeing their continued success together,” said
Jershon Jones, a managing director at Harris Williams.
Flagstop was founded over 40 years ago in Chester, Virginia by
Bob Schrum. Jamie Nester, Craig Marable, and Derek Haynes acquired
the company in late 2016 and have successfully grown Flagstop into
the leading express car wash platform in the greater Richmond,
Virginia market with 14 existing locations. The company is fueled
by a highly recognizable brand and a multi-pronged growth strategy
that has driven tremendous results. Flagstop is well-positioned to
continue to capitalize on strong industry tailwinds and its market
leadership.
Garnett Station is a principal investment firm founded in 2013
by Matt Perelman and Alex Sloane that manages $1.85 billion of
assets. Garnett Station partners with experienced and
entrepreneurial management teams and strategic investors to build
value for its portfolio of growth platforms. The firm draws on its
global relationships, operational experience, and rigorous
diligence process to source, underwrite, and manage investments.
Core sectors include food and beverage, health and wellness,
automotive, and business services. Garnett Station's culture is
based on the principles of entrepreneurship, collaboration,
analytical rigor and accountability.
Harris Williams is a global investment bank specializing in
M&A advisory services. Clients worldwide rely on us to help
unlock value in their business and turn ambitious goals into
reality. We approach every engagement with boundless collaboration,
pooling expertise and relationships across industries and
geographies to uncover the unique story of each company.
The Harris Williams T&L Group serves as a trusted partner to
investors and company leaders worldwide, helping them to unlock
value in their businesses. Our clients count on our deep experience
and thoughtful advice to understand the transportation and
logistics M&A landscape so that they can turn ambitious goals
into reality. Whether it's the recession-resistant automotive
aftermarket or the cross-industry criticality of third-party
logistics providers (3PLs), our industry offers value creation
opportunities for a wide range of investors. We have deep expertise
across a broad range of sectors such as the automotive and
heavy-duty aftermarket, third-party logistics, and transportation
infrastructure.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, 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 &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
For media inquiries, please contact Julia Moore at
media@harriswilliams.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230113005303/en/
Julia Moore media@harriswilliams.com
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