Calder Capital is excited to announce the successful acquisition of The Mechigian Auto Washes of Fenton, MI, by Ace Auto Wash of Troy, MI.
Established in 1999, The Mechigian Auto Washes are a trio (Lake Effect Auto Wash North, Lake Effect Auto Wash South, and Classic Auto Wash) of highly-regarded car washes, all of which were proudly owned by Allyson Mechigian. In addition to providing traditional car washing services, the three locations offer unlimited car wash passes and oil changes (at select locations) while maintaining a steadfast commitment to exceptional quality and attentive customer service. This dedication has allowed each location to cultivate a loyal customer base and a strong reputation within the local community. Allyson’s pursuit of continuous improvement has undoubtedly played a significant role in the business’s success. Allyson is eager to explore other business opportunities and pursue her love for traveling and real estate.
Ace Auto Wash is a locally owned and operated car wash business with four locations in Metro Detroit, Michigan (two in Shelby, one in Troy, and one in Sterling Heights). Founded in 2015, the company offers self-serve, automatic, and hand wash options, as well as detailing and waxing services, monthly memberships, and discounted rates for fleet accounts. Ace Auto Wash is committed to customer satisfaction, making it a trusted and reputable car wash business in the Metro Detroit Area. The acquisition is an excellent strategic fit for Ace Auto Wash’s portfolio, providing a seamless transition for both clients and employees. This synergistic acquisition will enable Ace Auto Wash to expand its market reach and enhance its service offerings, further strengthening its position as a leading car wash business in Southeast Michigan.
Garrett Monroe of Calder Capital served as the lead Mergers & Acquisitions Advisor to The Mechigian Auto Washes.
“This acquisition will help us enter a different market other than the east side of the market,” Saman Abdo of Ace Auto Wash announced, “This acquisition will also lead us into more locations within that market. We’re very excited to remodel these locations and get them up to date with the express car wash model. We will be using our new brand, Drip Car Wash, and building a few more sites in the area soon. Garrett and Calder Capital helped us through the whole process. They are very knowledgeable in the business and helped us with financing options. Garrett introduced us to Jeff Kleinschmidt from Old National Bank, and they were able to help us get the financing done efficiently. Garrett was quick to respond and help us get everything we needed from the seller promptly. Overall, the experience with Calder Capital was smooth. We appreciate Garrett and Calder Capital for helping us make this acquisition possible.”
“It was a pleasure to work with Garrett,” Allyson Mechigian commented regarding the transaction, “He held my hand throughout the entire process. He also had already had a relationship with my attorney, Andy Goldberg, with whom I have been doing business deals with for about 20 years. This made the experience much more comfortable and seamless for me.”
Andy Goldberg shared the following about the transaction: “As the lawyer who advised Allyson on the sale of her car washes to Ace Auto Wash, I am excited about this acquisition for several reasons. First, Ace Auto Wash is a reputable and well-established company in the car wash industry, and their acquisition of these car washes will only serve to enhance their already strong presence in the market. Additionally, this acquisition provides Allyson with a great opportunity to monetize her business and pursue other ventures. My experience working with Garrett Monroe and Calder Capital was nothing short of exceptional. Garrett was a consummate professional who worked tirelessly to ensure the transaction proceeded smoothly and efficiently. He was always available to answer any questions and provide guidance, making the process much less daunting for the owner. Overall, I was very impressed with the level of expertise and professionalism displayed by the team at Calder Capital, and I would not hesitate to work with them again in the future.”
“The car wash space is an industry with attractive opportunities for consolidation and growth. Many large players like Mister Car Wash and Tommy’s Express Car Wash are aggressively pursuing car wash acquisitions in Michigan, which makes this market competitive and dynamic. Ace Auto Wash beat out many buyers and offers to win Allyson’s three-car wash group,” Lead Advisor, Garrett Monroe, commented. “Allyson is excited that Ace Auto Wash will provide a seamless transition for her staff. I am thrilled that Allyson can spend more time with family traveling!”
Calder Capital, LLC served as the exclusive Mergers & Acquisitions Advisor to The Mechigian Auto Washes.
The Law Office Of Andrew J Goldberg served as legal counsel to The Mechigian Auto Washes.
The terms of the transaction were not disclosed.
About The Mechigian Auto Washes
The Mechigian Auto Washes is a trio of top-tier car wash businesses serving Southeast Michigan. Founded in 1999, the first location, Lake Effect Auto Wash North of Fenton, Michigan, set the standard for exceptional car wash services in the region. Building on this success, Allyson established Lake Effect Auto Wash South of Howell, Michigan, and acquired Classic Auto Wash in Howell, Michigan.
At each location, customers can expect premium traditional car wash and vacuum services that leave their vehicles sparkling clean. In addition, Lake Effect Auto Wash South provides oil change services to ensure that customers can enjoy complete automotive care under one roof. With a total workforce of 17 dedicated individuals across its three locations, The Mechigian Auto Washes are an integral part of the local economy, providing employment opportunities and supporting the community. The company’s unwavering commitment to quality and customer satisfaction has earned it a loyal following of satisfied customers who trust the company to keep their vehicles looking their best.
About Ace Auto Wash
Ace Auto Wash is a premier car wash business that takes pride in being locally owned and operated, serving Metro Detroit, Michigan, with four convenient locations. Their commitment to excellence is reflected in their customizable car wash packages and expert detailing services, designed to cater to the unique needs of every vehicle. Beyond its exceptional services, Ace Auto Wash is deeply rooted in the community it serves. The company is dedicated to giving back to the local community and regularly hosts fundraising initiatives to support important local causes.
About Calder Capital
Calder Capital is a lower middle market investment bank providing mergers and acquisitions advisory services to business owners, entrepreneurs, family offices, and investors across the United States. Our dedicated team of professionals combines extensive industry experience, technological innovation, negotiation savvy, and key relationships to exhibit exceptional execution. Calder’s services include mergers and acquisitions advisory, private funds and capital markets advisory, and business valuations.