Financing

Owners of The Smart Car Wash attended President Barack Obama's “Stimulus in Action” speech at the White House Feb. 17 on the one-year anniversary of the Economic Recovery Act, the company announced in a press release. The Smart Car Wash received federal assistance through the Small Business Administration’s 504 lending program. The Smart Car Wash broke ground in Woodbridge, Va., ...

WashTec Group reported that its service, chemical and operations business was stable in the third quarter, but total revenue during the first three quarters declined 12.2 percent year over year to 186.4 million euros (approximately $279 million). The decline was attributed primarily to lower equipment sales, which fell 20.5 percent.Germany-based WashTec is the parent company of Mark VII Equipment Inc. ...

Amnis LLC has acquired Kim Supply Inc., a catalog distributor of carwash equipment and supplies and a manufacturer of self-serve carwash equipment, according to a company press release. Amnis will continue to operate the business as Kim Supply. Financial terms were not disclosed.“What attracted us to this organization was Kim Supply’s excellent reputation, true commitment to customer satisfaction, substantial customer ...

Recession. Rising unemployment. Dismal car sales. Even record-setting rain falls. The challenges faced by today’s carwash owners have never been greater. Another obstacle is how to finance the purchase of a car care business or new equipment. The truth is if you are an existing carwash owner it is difficult to find financing. For a first-time carwash buyer, it is ...

Mace Security International has entered into agreements to sell two of its remaining Texas carwashes for a combined $1.8 million. One carwash is in Lubbock with the second in Arlington. The announcement came in a press release recapping the company’s second-quarter financial highlights.Total revenue for the quarter, ended June 30, was $8.5 million, down from $12.9 million for the same period ...