Argosy Private Equity has acquired Mr. Splash Car Wash, a leading express car wash chain in Greater Madison, Wisconsin, to leverage growth opportunities in a thriving industry.

Information on the Target

Argosy Private Equity has recently acquired Mr. Splash Car Wash, a prominent express car wash chain consisting of six operational sites in the Greater Madison, Wisconsin area. The company is set to expand with two more sites in Stoughton and Madison, expected to open by the end of 2025. Mr. Splash strategically operates in high-traffic corridors along I-90 and I-94, catering to a robust demographic and experiencing a steady increase in membership numbers.

Founded by co-owners Jeff Joos and Tony Ruiz in 2019, Mr. Splash has swiftly ascended to become the largest express car wash chain in Central Wisconsin. The company distinguishes itself through strong local ties and reliable relationships with Wisconsin-based subcontractors, which enable it to maintain competitive expansion costs even amidst rising development prices.

Industry Overview in Wisconsin

The car wash industry in Wisconsin is seeing significant growth, fueled by a robust automotive market and increasing consumer demand for convenience and quality services. With busy lifestyles, both residents and visitors in the Greater Madison area seek efficient solutions for