CleanCar AG (Germany) - Jan 2008

CFH GmbH and funds under management of CFH GmbH have acquired a minority of CleanCar AG, which is less than the stake held by DZ Equity after its investment in late 2007 (November/December 2007, page 35-36). CFH was invited by DZ Equity Partners to join the investment.

The company was described as having an excellent growth story, reporting steady growth in the double digits year-on-year. The market itself is stable and saturated, but textile washing facilities are subsequently replacing brush washing facilities, with the technology used by CleanCar being described as superior to competitors. Moreover, the investor sees potential for growth, especially in Southern Germany.

Company

CleanCar is an expanding company and one of the major carwash operators in Germany. The group returned sales of more than €60m with a workforce of around 280 employees. Since 1986, full-service provider CleanCar has operated high-performance carwash and care centres in the growing high-tech segment.

People

Thomas Tettenborn represented CFH during the transaction. Dr Peter J Henssen is founder and CEO of CleanCar.

Advisers

Equity - PetersenGründel, Mirko Gründel (Legal)Equity - Simon Kucher & Partner Bonn, Dieter Lauszus (Commercial Due Diligence)Equity - SJ Berwin LLP, Jörg Windt, Michael Trask (Legal)Equity - SJ Berwin LLP (Munich), Tilman Siebert (Legal)Equity - Warth & Klein, Achim Krichel, Michael Häger (Financial Due Diligence)

Sourced from: Deutsche unquote" 95 (Jan 2008)

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• Topics
• DACH
• Expansion
• Consumer
• Germany