Bubble Down Car Wash has secured a $200 million capital commitment from Strategic Capital, an investment strategy within BTG Pactual Global Alternatives, to fund acquisitions and new development across Florida and the Southeast.<\/p>\n
The Tampa-based company, which operates eight express car washes in the Tampa Bay region, said it will use the investment to acquire existing operators, develop additional locations and invest in technology<\/a> and infrastructure. Terms of the transaction beyond the capital commitment were not disclosed.<\/p>\n The funding comes as private equity firms and institutional investors continue backing regional car wash operators that are expanding through acquisitions. Bubble Down said the investment will allow it to play a larger role in that consolidation.<\/p>\n \u201cWhen we started Bubble Down, we weren\u2019t interested in building another car wash company,\u201d founder and Chief Executive Officer Bryan Zinober said. \u201cWe set out to build something exceptional, a business<\/a> that would stand the test of time, and one that our team members, customers, families and communities could be proud of for generations.\u201d<\/p>\n