Mammoth Holdings expands Silverstar Car Wash footprint
Published on: Jul 22, 2024
The platform has opened a new branded location in Iowa as part of its ambition to reach 500 sites nationwide.
Mammoth Holdings announced the recent opening of its newest location, Silverstar Car Wash in Clive, Iowa, its latest addition as part of its ambition to reach 500 sites nationwide.
The site will become a go-to destination for car owners in Clive, providing convenience and marking the company’s 30th Mammoth location under the Silverstar Car Wash brand.
"Today's Silverstar opening marks the beginning of Mammoth's service to the Greater Des Moines area with more sites planned," said Dave Hoffmann, Chairman and CEO of Mammoth Holdings.
The company currently has 144 locations under its network and operates a total of 21 car wash brands. The firm continues to actively seek acquisitions and development opportunities.
Oak Hill Advisors provides Mammoth Holdings' debt financing through its direct lending partnership with BMO Capital Markets. In October 2018, Mammoth partnered with Atlanta-based private equity firm Red Dog Equity LLC,to support corporate development initiatives.
In December 2022, the company sold a minority stake to CCMP Growth Advisors that provided Mammoth with additional capital to pursue building new units and making acquisitions.
