August 13, 2019

Private equity real estate firm Henley Investments acquired five Water Works car wash locations in greater Greensboro, NC. The sales price and seller were undisclosed.

Henley intends to modernize the equipment at each facility to increase daily vehicle washing capacity. The in-bay car wash facilities will be converted to full tunnel and mini tunnel express wash configurations, increasing capacity at each from 10 vehicles per hour to up to 130 per hour. Drivers will remain in their cars during the wash sequence and different wash types and other services like wax application, undercarriage washing and wheel brightening can be individually programmed for each vehicle.

Equipment upgrades and renovations for all six facilities are projected to be completed by spring 2020.

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Tags: Acquisition, Retail