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HomeFunding CT-based Summit Wash Holdings Secures $200Million+ in Debt Funding

[Funding News] CT-based Summit Wash Holdings Secures $200Million+ in Debt Funding

Summit Wash Holdings, a membership-focused car wash group established in 2022 secures $200million+ in debt funding to continue expansion in Central Florida, Connecticut, and New Jersey.

Summit Wash Holdings, a membership-focused car wash group established in 2022 secures $200million+ in debt funding to continue expansion in Central Florida, Connecticut, and New Jersey.

Summit, who currently operates 54 sites, will use the funding to nearly double location count with plans to surpass 100 locations by mid-2025.

Dan Pittman, CEO of Summit Wash Holdings said, “This significant investment in Summit Wash Holdings marks a milestone in our journey, The funding supports brand expansion as well as our commitment to our customers and the communities we serve.”

Established in 2022 and headquartered in Norwalk, Connecticut and Palm Beach Gardens, Florida, Summit was initially formed through a partnership with Russell Speeder’s Car Wash, a 21-site family-owned car wash platform with locations primarily in the Northeast and Omaha, Nebraska.

Read also – [Funding News] Mexico City-based Aplazo Secures $70Million in Additional Equity Funding

In 2023, New Mountain Capital, a New York-based investment firm, and it announced a partnership reinforcing the team’s commitment to growth.

About Summit Wash Holdings

Summit Wash Holdings (“Summit”) was initially formed through a partnership with Russell Speeder’s Car Wash, a family-owned car wash platform with 21 locations across the Northeast, Nebraska, and Florida markets. Russell Speeder’s, which was founded in 1963 by the Shullman family, is known throughout the industry for its unparalleled quality, service, and customer experience.

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