New locations broaden Flagstop’s reach in Richmond and the surrounding Central Virginia areas

Company is on track to operate over 25 units by the end of the year

Flagstop Car Wash (“Flagstop” or the “Company”), the leading express car wash brand in Richmond, Virginia, today announced the acquisition of two Central Virginia-based car wash sites, Sudzy Malone Car Wash in Powhatan and Auto Spa Car Wash in Kilmarnock, as well as the opening of a new site in Farmville, as part of the Company’s continued expansion of its premium car wash platform.

The launch of these locations supports Flagstop’s vision for growth and passion for providing its network of customers and club members premium, reliable car wash services. Under the terms of their respective deals, Sudzy Malone Car Wash and Auto Spa Car Wash have been converted to the Flagstop brand and reopened in March and April, respectively, and the Farmville site opened in February. With the addition of these three sites, Flagstop now operates 24 locations throughout Richmond and the surrounding areas, continuing the momentum to reach over 25 units by the end of the year.

“Our steady cadence of growth over the past few years reflects the strong demand for our quality services and loyal brand affinity that we’ve cultivated with our customers across the Central Virginia region,” said Jamie Nester, CEO of Flagstop. “We are proud of our deep roots in Greater Richmond, and we’re excited to continue to expand our reach in surrounding areas while reinforcing our commitment to the community.”

“Today’s announcement is a testament to our ability to sustainably scale Flagstop to become the car wash brand of choice with the highest customer satisfaction in the Central Virginia area,” said Spencer Rakes, COO of Flagstop. “By expanding our express and membership-focused business model into these new locations, we are able to provide even more Virginia communities with our high-quality, affordable and enjoyable car wash experience while positioning our company for transformational growth.”

Since its founding in 1981 in Chester, Virginia, Flagstop has prioritized creating a relationship of trust within the communities in which it operates and has built its brand on a customer-focused business model. Flagstop’s approach to premium wash and membership services has allowed the Company to grow into the leading express car wash brand in the region, recently earning the distinction of the “2024 Best Car Wash of Central Virginia” by Virginia Living Magazine.

Flagstop’s continued growth and success is supported by a previous investment from Garnett Station Partners, a New York-based principal investment firm that manages over $3.5 billion of assets. Since the beginning of the partnership, Flagstop has grown its local footprint with 11 additional sites and remains committed to expanding its regional presence.

About Flagstop Car Wash

Flagstop Car Wash was founded over 40 years ago in Chester, Virginia and is led by industry executive Jamie Nester. Flagstop is the leading express car wash platform in the Greater Richmond market with 24 existing locations. The Company is fueled by a highly recognizable brand, the “RVA Wash Club,” and a multi-pronged Virginia centric growth strategy. Flagstop is well-positioned to continue to capitalize on strong industry tailwinds and its market leadership. For the latest news from Flagstop as well as more information on the company’s services, locations, and hours, please visit www.flagstopcarwash.com.

About Garnett Station Partners

Garnett Station Partners is a principal investment firm founded in 2013 by Matt Perelman and Alex Sloane that manages over $3.5 billion of assets. Garnett Station partners with experienced and entrepreneurial management teams and strategic investors to build value for its portfolio of growth platforms. The firm draws on its global relationships, operational experience and rigorous diligence process to source, underwrite and manage investments. Core sectors include consumer and business services, health and wellness, automotive, and food and beverage. Garnett Station's culture is based on the principles of entrepreneurship, collaboration, analytical rigor and accountability. For more information, please visit garnettstation.com.

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