The United States offers significant growth potential for the group. With a vehicle population of over 263M vehicles, an increase of 5.4% on 2010, it’s estimated that in 2016, US car wash revenues exceeded $12.0 Billion, with conveyors expected to account for nearly half of all income.
Every day over 8M vehicles are washed in the US with over 2.3Bn vehicles washed every year.
ICWG entered the US in August 2015 and already has over 150 sites which makes us one of the major players in the market. The US sites operate under 3 key brands – Car Wash USA Express, Goo-Goo 3 Minute Express Wash and Supersonic in the state of Utah.
Trading at nearly 740 sites in 13 European 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. IMO entered the Danish market in early 2017 and now has 2 sites fully open.