Dec. 6, 2021

In a move that’s expected to accelerate growth for Silverstar Car Wash, the Sioux Falls-based company has joined with one of the industry’s largest players.

Atlanta-based Mammoth Holdings LLC has a portfolio of conveyor car washes that spans 15 states and includes 80 locations under a variety of names.

Silverstar, which made “a significant equity investment” in Mammoth, will continue to own and operate its 14 locations in South Dakota, North Dakota, Iowa and Nebraska.

“The Silverstar team are world-class operators and have quickly built an impressive footprint in the Sioux Falls and Sioux City markets,” Mammoth chairman and CEO Dave Hoffmann said.

“Silverstar has taken a unique approach to development that we will continue to leverage across our operator-led platform, in addition to learning from their best-in-class operations.”

Silverstar will continue to be led by founder Bryan Slama. Its name and business model will not change.

“It was very important to pick a partner who shared our values and our vision for the industry,” Slama said. “After meeting Dave and the Mammoth team, we immediately knew these were the people we wanted to grow our business with. Mammoth puts people first, and we are excited to be able to provide our employees an opportunity to grow their careers within a larger organization.”

Mammoth is the nation’s sixth largest conveyor car wash operator, according to the Commercial Plus Top 100 list.

The company “seeks to be the partner-of-choice for car wash operators who desire liquidity, growth capital and a tax-deferred equity investment opportunity,” it said in a statement.

“Mammoth has significant growth capital at its disposal and is actively seeking acquisitions and development opportunities.”

Mammoth’s multibrand portfolio includes Marc-1, Wash Me Fast, Swifty, Ultra, Finish Line, Wiggy Wash, Shine On, Pit Stop, Lulu’s, Ollie’s, PureMagic, Busy Bee and now Silverstar, among others.

In October 2018, Mammoth partnered with Red Dog Equity LLC, an Atlanta-based private equity firm, which, through its partnership with Hyatt Hotels executive chairman Tom Pritzker’s family business interests, advised by The Pritzker Organization, provides the equity for Mammoth’s corporate development initiatives. Monroe Capital and Morgan Stanley provide Mammoth’s debt financing.

Mammoth was founded in 2002 by industry veterans Gary Dennis and Chip Hackett. Silverstar was founded in 2010 and has six locations in development in addition to its 14 open washes.