PPR Capital Management expands with new Tommy's Express Car Wash
Published on: Oct 28, 2024
Located in North Charleston, South Carolina, this expansion marks the second open location in PPR's Opportunity Fund.
Private equity real estate investment firm PPR Capital Management has announced the opening of Tommy's Express Car Wash Charleston, located in North Charleston, South Carolina.
This opening is part of the company's Opportunity Funds, launched earlier this year in partnership with retail business developer and operator Olympus Pines. This initiative focuses on the development and operation of Tommy's Express Car Washes in strategic, high-growth car wash markets across the United States.
"This opening reflects our commitment to providing our investors with unique opportunities and high-quality, real estate-backed ventures. Through PPR's new Opportunity Fund, we can offer our valued investors a differentiated investment opportunity typically only made available to institutional or venture capital investors, allowing them access to growth markets with high potential for strong returns," said Steve Meyer, Chief Executive Officer at PPR Capital Management.
As one of the largest car wash franchises in the United States, each Tommy's Express location features characteristics unique to the brand. This includes a cleaning system that can wash up to 200 cars per hour using 80% recycled water,-in-class conveyor belt, and advanced license plate recognition technology.
A mobile app also makes it easy for Tommy's customers to manage their car wash subscription, operate on-site self-service vacuums, and pay for individual washes.
