Monroe Capital Supports Formation of Magnolia Wash Holdings

Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the formation of Magnolia Wash Holdings (“Magnolia”) via the acquisitions of Oasis Express (“Oasis”) and Wash Factory by Express Car Wash, LLC (“Express”).

The creation of Magnolia establishes a new platform in the express car wash industry with meaningful size and scale, regional density, and a defensible market position in the Southeast U.S. At closing, Magnolia will operate 19 express car wash locations, with seven locations in Florida, seven in Georgia, and five in North Carolina. Magnolia utilizes multiple consumer-facing brands across its local markets, including Camel Premium Express, Wave Wash, Oasis Express, Extreme Express, and Wash Factory. Magnolia prides itself on delivering consumers and teammates a premium on-premise experience, including its Unlimited Fast Pass Membership Program, free towels, free vacuums, and free mat washing stations.

About Monroe Capital

Monroe Capital LLC (“Monroe”) is a premier boutique asset management firm specializing in private credit markets across various strategies, including direct lending, asset-based lending, specialty finance, opportunistic and structured credit, and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, New York, and San Francisco.

Monroe has been recognized by both its peers and investors with various awards including Private Debt Investor as the 2020 Lower Mid-Market Lender of the Year, 2020 Lender of the Year, and 2020 CLO Manager of the Year, Americas; Creditflux as the 2020 Best U.S. Direct Lending Fund; Pension Bridge as the 2020 Private Credit Strategy of the Year; and Global M&A Network as the 2020 Small Middle Markets Lender of the Year. For more information, please visit www.monroecap.com.

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