About The Company

HISTORY OF COMPANY

ICWG was purchased by Roark Capital in August 2017 and is led by an experienced team of car wash and investment professionals committed to delivering value to both customers and investors. The team is focused on developing and growing the ICWG brand through a combination of acquisitions, greenfield expansion, continuous innovation and consumer engagement.

ICWG is internationally known as the brand “IMO” in Europe and the Asia Pacific. Trading at nearly 740 sites in 13 countries, every year the IMO brand washes nearly 29 million cars. Founded in Germany in 1965, the IMO brand has expanded to include over 310 sites in Germany, 254 in the UK and over 175 sites throughout the rest of Europe. Europe provides strong growth opportunities with IMO ideally positioned to add new sites in existing markets and expand into new territories. The first IMO location was opened in Australia in 2006 and since then has grown steadily to 23 sites with the most recent site opened in October 2018. The country provides significant growth opportunities for the brand with the aim to more than double the number of existing sites.

The United States offers significant growth potential for the group. With a vehicle population of over 270 million vehicles, growing at a 2.4% annual rate, it’s estimated that in 2018, US car wash revenues exceeded $12.8 billion, with conveyors expected to account for nearly half of all income. Every day over eight million vehicles are washed in the US with over 2.3 billion vehicles washed annually. ICWG entered the US in August 2015 and already has over 150 sites, which makes it one of the major players in the market. The US sites operate under three key brands: Car Wash USA Express; Goo-Goo 3 Minute Express Wash; and Supersonic in the state of Utah.

LEADERSHIP

RECENT GROWTH TIMELINE

International Car Wash Shop

ICWG acquired Car Wash USA Express

2015

Acquired by ICWG in 2015, Car Wash USA Express consists of over 60 sites covering Alabama, Arkansas, Colorado, Georgia, Ohio, Mississippi, Tennessee and Texas. It is currently the largest express exterior car wash in the Mid-South offering a wash that takes just three minutes, coupled with free vacuums. ICWG is pursuing a consistent growth strategy in this key market and is continuously acquiring and developing new sites.

International Car Wash Shop

ICWG acquired Supersonic Car Wash

August 2015

Supersonic Car Wash was founded in Ogden, Utah in 1959 and was Utah’s only full service car wash at the time. Supersonic has both full-service and express exterior locations in Salt Lake, Utah and Weber Counties. Acquired by ICWG in August 2015, Supersonic provides additional opportunities to grow within the state of Utah with a number of locations already identified.

International Car Wash Shop

ICWG acquired Goo-Goo 3 Minute Express Wash

July 2017

Since 1945, Goo-Goo 3 Minute Express Wash has met the needs of the driving public by giving customers a quality carwash with fast, economical, and great service. As one of the oldest car wash brands in the United States, Goo-Goo has led the way by developing the concept to meet the needs of the driving public for over 60 years. Acquired by ICWG in July 2017, there are over 50 express wash outlets in seven states primarily in the southern United States and Ohio.

Roark Capital Group

Roark Capital purchased ICWG

August 2017

ICWG was purchased by Roark Capital in August 2017 and is led by an experienced team of car wash and investment professionals committed to delivering value to both customers and investors. The team is focused on developing and growing the ICWG brand through a combination of acquisitions, greenfield expansion, continuous innovation and consumer engagement.

Thomas Mangas

ICWG installed Thomas Mangas as Chief Executive Officer

October 2018

In October 2018, ICWG installed Thomas Mangas as Chief Executive Officer. Prior to joining the company, Tom served as both CFO and CEO of Starwood Hotels & Resorts; CFO of Armstrong World Industries (AWI) and CEO of Armstrong Flooring Products; and spent the first 20 years of his career at Procter & Gamble (P&G) initially as CFO of P&G’s 10 country hub of Turkey, Central Asia and Caucasia, and later as the CFO of P&G’s Global Fabric Care and Beauty and Grooming business.

International Car Wash Shop

ICWG is actively expanding through both acquisition and development across the globe

2019

Today, ICWG is actively expanding through both acquisition and development across the globe. Plus, existing car wash locations are continuously bringing new innovation to the carwash experience and results for our customers’ vehicles. Such an example is the exclusive global launch of Polymer Pro sealant that protects paintwork long after our customers leave the car wash, dispelling road dirt and water for a shine you thought you could only get by hand.

Mike Smith
Chairman ICWG Board of Directors

Mike joined ICWG in 1999 and currently serves on the Board in his role as Chairman.  Prior to this he worked for BP as Head of Planning and Strategy for BP’s global retail business and before that, Mobil Oil Company as head of their UK retail business.    Mike is also a Non-Executive Director of Avant Homes, one of the UK’s leading privately-owned housebuilders. Mike graduated from the University of Aston in Birmingham, UK with an honours degree in Business Studies.

Ezra Field
Co-Chief Investment Officer Roark Capital and ICWG Board of Directors

Ezra joined Roark in 2007, and currently leads Roark’s investments in CKE, Driven Brands, International Car Wash Group, Jim ‘n Nick’s Bar-B-Q, Massage Envy, Miller’s Ale House, Naf Naf Grill and Pet Retail Brands.

Michael Sharkey
Principal Roark Capital and ICWG Board of Directors

Mike joined Roark in 2007. He is actively involved in Roark’s investments in International Car Wash Group, Drybar and Primrose, and was involved in Roark’s prior investment in Wingstop (NASDAQ: WING).

Tom Mangas
Chief Executive Officer and ICWG Board of Directors

28 years driving growth in global consumer-focused business including nearly 20 years at Procter & Gamble , serving as CFO of Armstrong World Industries, and leading Starwood Hotels & Resorts as its CEO.  Tom is based in Denver and serves on the board of ICWG as well as the boards of Strada Education Network and Tab Food Investments.

Vince Valentin
President USA

28 years working in general management and finance roles, for both multi-national and start-up companies, in decentralized B2B/B2C multi-site industries including Elevators, HVAC, Solar, and Fire & Security.  Vince is based in Denver.

 

Peter Davies
VP Europe

20 years of leadership experience, delivering business growth and improvement through developing and leading highly motivated teams. Management roles at Mc Donald’s, SSP and most recently served at Retail Director of Starbucks UK. Peter is based in the UK and serves on the Boards of IMO Europe.

Jonathan Booth
Deputy CEO

Jonathan joined IMO in 2000 as UK Managing Director from BP. Prior to that he was at Mobil where he held a wide variety of operational roles, latterly as head of the BP European Fuel Card Business. In 2007 Jonathan was appointed Managing Director of IMO’s Continental operations before taking up his current position. Jonathan received an honours degree in Economic History and Politics from Leicester University.

Jeff Lasher
CFO

Over 26 years of experience in various corporate finance roles including, among others, Ford Motor Company, AutoNation, Inc. and Corporate Express.  He has been CFO in public and private equity enterprises for over 8 years, including CFO of Crocs, Inc. from 2011 to 2015 and West Marine, Inc. from 2015 to 2018.  He joined ICWG in 2018.

 

Jeff Maize
VP Acquisitions

Jeff was the original ICWG person on the ground (or in the air!) in the U.S. and has been with the group for 5 years leading the acquisition activities. Jeff entered the car wash business in 2000 and managed car wash equipment manufacturer MacNeil Wash Systems for 13 years. Prior to the car wash industry, Jeff enjoyed a diversified career in corporate banking and management consulting.

Jean Jacquemetton
General Counsel

Jean joined the company in 2016, as Vice President of Acquisitions for the US.  After acquiring more than 100 car washes, he became Group General Counsel in 2018.  Prior to ICWG Jean, was President of the French and German subsidiaries of Amrestavia SLU. Jean obtained his Juris Doctor degree from The George Washington University National Law Center in 1990, and is based in Denver.

Jason Berryhill
CIO

21 years of enabling and accelerating business processes through systems.  Jason has lead IT for a number of global enterprises both public and private.  His market experience includes consumer, e-commerce, manufacturing and multi-site at companies such as Whirlpool Corp, Zeiss AG and Maxwell Technologies.  Jason is based in Denver.