Quick Quack Announces Strategic Investment by KKR
12 6월 2024 - 5:15AM
Business Wire
KKR, a leading global investment firm and Quick Quack Car Wash
(“Quick Quack” or the “Company”) today announced that investment
funds managed by KKR have made a significant minority investment in
the Company.
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the full release here:
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Quick Quack’s founders and its longtime equity partner, Seidler
Equity Partners (“Seidler”), will continue to hold meaningful
stakes in the Company alongside KKR. The new investment will
support the continued acceleration of Quick Quack’s growth through
innovation, marketing and organic expansion in new and existing
markets.
Founded in 2004, Quick Quack is one of the largest and fastest
growing express format car wash operators in the U.S., with over
230 locations across California, Texas, Arizona, Utah, and
Colorado.
“With its differentiated operating model, strong track record of
organic growth and world-class team, we believe Quick Quack is
well-positioned to continue its growth trajectory,” said Sam
Plotner, Director at KKR. “We look forward to working with the
Quick Quack and Seidler teams to continue to drive growth by
building upon on the strong foundation that they have established
over the past two decades.”
“We are pleased to welcome KKR as a new strategic partner. Their
support is a testament to the impressive business that our team has
built and the culture underlying it,” said Jason Johnson, CEO of
Quick Quack. “KKR stood out for its breadth of expertise and
commitment to supporting our business holistically. We are
confident that having access to KKR’s extensive industry knowledge
and resources in addition to Seidler’s continued support will
benefit our mission of ’changing lives for the better’ and being
’fast, clean, loved…everywhere’.”
“We look forward to the continuation of our long partnership
with Quick Quack. The addition of KKR and their impressive
resources signifies an exciting new chapter in the Quick Quack
story,” said Eric Kutsenda, Managing Partner at Seidler.
KKR invested in Quick Quack primarily through funds and accounts
managed by its Strategic Investments Group.
KKR, Seidler, and Quick Quack’s founders will support the
Company in implementing a broad-based team member ownership
program. This strategy is based on the belief that team member
engagement through ownership is a key driver in building stronger
companies. Since 2011, more than 40 KKR portfolio companies have
awarded billions of dollars of total equity value to over 100,000
non-senior management employees.
Goldman Sachs & Co. LLC and William Blair & Company LLC
acted as financial advisors and O’Melveny & Myers LLP acted as
legal advisor to Quick Quack. Simpson Thacher & Bartlett LLP
acted as legal counsel to KKR.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com.
For additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group’s website at
www.globalatlantic.com.
About Quick Quack Car Wash
Quick Quack Car Wash is “Fast. Clean. Loved... Everywhere.”
Quick Quack has over 230 locations in California, Texas, Arizona,
Utah, and Colorado and is regularly recognized for its
community-building efforts as well as its environmentally friendly
business practices. Quick Quack celebrates a company culture of
“Smart, Kind, and Driven” with leaders, team members, and community
partners working together to ensure that customers “Don’t Drive
Dirty!” More information is available online at
www.DontDriveDirty.com.
About Seidler Equity Partners
Seidler Equity Partners and its affiliates have been investing
in market-leading companies since 1992. SEP aligns with business
founders and management teams to achieve long-term growth and
preserve company stewardship. For more information, visit
www.SEPfunds.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240611046579/en/
Media:
For KKR: Julia Kosygina 212-750-8300 media@kkr.com
For Quick Quack Car Wash: Tracy Delgado 916-295-0243
tracyd@dontdrivedirty.com
For Seidler Equity Partners: Eric Kutsenda 213-683-4596
info@sepfunds.com
KKR (NYSE:KKR)
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KKR (NYSE:KKR)
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