SAN FRANCISCO, Aug. 6, 2020 /PRNewswire/ -- Genstar Capital, a leading private equity firm focused on investments in targeted segments of the financial services, healthcare, industrial, and software industries, today announced its investment in Sonny's Enterprises ("Sonny's"), the worldwide leader in conveyorized car wash equipment, chemicals, controls, service and parts.
Based in Tamarac, Florida, Sonny's is the largest global manufacturer of conveyorized car wash systems and provides a complete, integrated suite of products and services that meets all the needs of car wash owners and operators. The Company serves both small independents and large national car wash chains throughout the U.S. and internationally. Sonny's is the only one-stop provider of solutions spanning the entire car wash lifecycle, providing education on car wash operations, site and car wash business consulting services, a comprehensive offering of tunnel equipment, vacuums, lighting and signage, controls, chemistry, local service and support and aftermarket parts. Established in 1949, Sonny's has been led by the Fazio family since inception.
Rob Rutledge, Managing Director of Genstar Capital, commented, "Sonny's draws on over 40 years of industry leadership to drive deep relationships with over 6,000 active customers nationwide. They operate as true partners with their customers and invest in their growth, from expert guidance during site planning through construction and operations, forging a long-term relationship as they grow together. We are very excited to work with Paul Fazio and his team to grow the business both organically and through strategic acquisitions."
Paul Fazio, CEO at Sonny's who has worked at the company for nearly 30 years, said, "When I look back over the years, Sonny's has worked with so many entrepreneurs to help them get their start in the car wash business and then grow from one site to multiple locations. Our partnership with Genstar will help attract and retain the best talent in the industry and develop innovative new products that will simplify the operations of our customers' car wash business. My team and I remain committed to being the single source solution for car wash equipment, vacuums, chemicals, software, education and local support. We work every day to make car washing easy for investors to go from breaking ground to ground-breaking success."
Fully committed debt financing was provided by Owl Rock Capital in its capacity as Administrative Agent and Lead Arranger for the transaction.
About Sonny's Enterprises
Sonny's is the largest manufacturer of conveyorized car wash equipment, parts, and supplies in the world. Forward thinking professional car wash investors, owners and operators partner with Sonny's because of its total offering, market leadership, and deep expertise. Sonny's education and software products support operator profitability and its conveyorized car wash innovations, parts, and supplies keep customers' businesses growing. For more information, visit www.SonnysDirect.com.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $19 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrial, and software industries.
Contact: Chris Tofalli
Chris Tofalli Public Relations
SOURCE Genstar Capital