Racers Edge Car Wash Sold

Express Wash Operations LLC, doing business as Magnolia Wash Holdings, based in Charlotte, N.C., recently acquired five premium express conveyor car washes in Virginia and North Carolina, including the Racers Edge Car Wash on Commonwealth Boulevard in Martinsville.

Other locations include three 5-Star Car Wash locations in Greensboro and Fayetteville and Rivers Edge Car Wash in Mount Airy, N.C., a press release stated.

The acquisition brings to 51 then number of operating locations for Magnolia in Florida, Georgia, North Carolina, Ohio, South Carolina, Tennessee and Virginia, with eight additional locations under construction, the release said.

Magnolia was founded by Frank Bennett and Brooks Moye in 2014.

“We are grateful for the opportunity to expand within our current operating markets and we are excited about our continued growth in the Southeast,” said Magnolia Chief Financial Officer Kyle Poyer in the release.

“The leadership of 5-Star, Rivers Edge and Racers Edge created a premium brand in a growing market within our main focus area of the Southeastern U.S.,” said Magnolia’s VP of Operations Andy Agostini in the release. “We are thankful to have the opportunity to continue to serve customers at the level in which these brands have for years.”

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