Harris Williams Advises Flagstop Car Wash on its Recapitalization by Garnett Station Partners

RICHMOND, Va.–(BUSINESS WIRE)–Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Flagstop Car Wash (Flagstop) on its recapitalization and growth capital investment by Garnett Station Partners, LLC (Garnett Station). Flagstop is a rapidly expanding express car wash platform with 14 locations in Central Virginia. The transaction was led by Jershon Jones and Matt Williamson of the Harris Williams Transportation & Logistics (T&L) Group.

“This transaction represents another marquee deal in the highly attractive car wash sector. Flagstop is a premier regional platform that is well-positioned for long-term growth. We are incredibly excited about the partnership between Flagstop and Garnett Station and look forward to seeing their continued success together,” said Jershon Jones, a managing director at Harris Williams.

Flagstop was founded over 40 years ago in Chester, Virginia by Bob Schrum. Jamie Nester, Craig Marable, and Derek Haynes acquired the company in late 2016 and have successfully grown Flagstop into the leading express car wash platform in the greater Richmond, Virginia market with 14 existing locations. The company is fueled by a highly recognizable brand and a multi-pronged growth strategy that has driven tremendous results. Flagstop is well-positioned to continue to capitalize on strong industry tailwinds and its market leadership.

Garnett Station is a principal investment firm founded in 2013 by Matt Perelman and Alex Sloane that manages $1.85 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 food and beverage, health and wellness, automotive, and business services. Garnett Station’s culture is based on the principles of entrepreneurship, collaboration, analytical rigor and accountability.

Harris Williams is a global investment bank specializing in M&A advisory services. Clients worldwide rely on us to help unlock value in their business and turn ambitious goals into reality. We approach every engagement with boundless collaboration, pooling expertise and relationships across industries and geographies to uncover the unique story of each company.

The Harris Williams T&L Group serves as a trusted partner to investors and company leaders worldwide, helping them to unlock value in their businesses. Our clients count on our deep experience and thoughtful advice to understand the transportation and logistics M&A landscape so that they can turn ambitious goals into reality. Whether it’s the recession-resistant automotive aftermarket or the cross-industry criticality of third-party logistics providers (3PLs), our industry offers value creation opportunities for a wide range of investors. We have deep expertise across a broad range of sectors such as the automotive and heavy-duty aftermarket, third-party logistics, and transportation infrastructure.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

For media inquiries, please contact Julia Moore at media@harriswilliams.com.


Julia Moore


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