Summit Wash Holdings Announces Strategic Partnership & CEO Appointment

NORWALK, Conn. & WEST PALM BEACH, Fla.–(BUSINESS WIRE)–Summit Wash Holdings (“Summit” or the “Company”), a leading platform of 37 car wash units across select Northeast, Florida and Nebraska markets, announced today that it has partnered with New Mountain Capital (“New Mountain”), a leading growth-oriented investment firm with over $37 billion of assets under management. The Company has also appointed former DRB Systems, LLC (“DRB”) CEO, Dan Pittman, as CEO.

Established in 2022 and headquartered in Norwalk, Connecticut and Palm Beach Gardens, Florida, Summit was initially formed through a partnership with Russell Speeder’s Car Wash, a 21-site family-owned car wash platform with locations primarily in the Northeast and Omaha, Nebraska. Russell Speeder’s was founded in 1963 by the Shullman family and was led by Mike Shullman and an outstanding leadership team of Kevin Matthews, Renzo Candiotti and Tom Mayhew. Russell Speeder’s is known throughout the industry for its unparalleled quality, service, and customer experience. Behind continued investment from the Shullmans, Summit has grown its presence in the Florida market through two acquisitions: Waters Wash in 2022 and Squeeky’s Car Wash in 2023.

Summit’s strategy is to acquire and develop express car washes in key markets and implement its unique playbook to improve operations and drive industry-leading membership revenue – all while distinguishing itself by providing a superior customer experience. In addition to the foundational acquisitions already completed, Summit has added 8 sites to its platform through single-site transactions.

“I am thrilled to join the Summit Wash platform and continue to build on the legacy of Russell Speeder’s and Mike Shullman,” said Dan Pittman, CEO of Summit Wash Holdings. “Over the last several years I have had the privilege to serve some of the best car wash organizations in the industry, both big and small. I am excited to serve the employees of this organization as we strive to be people first, consumer obsessed, with a culture of humble, hungry, smart people making us better every day.”

“We are excited to welcome Dan to the team and accelerate our pursuit to build the leading car wash platform with a focus on high quality operations and unmatched customer service,” said Kevin Mathews, COO of Summit Wash Holdings. “Today’s announcement underscores our commitment to bringing our winning playbook to more car washes across the United States. I look forward to working hand-in-hand with all Summit associates to achieve our goals.”

Mr. Pittman previously served as President and CEO of DRB Systems LLC, a leading provider of point of sale, workflow software, and control solutions to the car wash industry from 2018 to 2022 and served as COO of DRB from 2015 to 2018. He has also served in senior operations and supply chain roles at TestAmerica, Diebold, and J&L Steel. Mr. Pittman holds a Bachelor of Science in Administrative Management from Tennessee Temple University.

Summit Wash Holdings is rapidly growing and is actively recruiting across various markets, with job opportunities and attractive career paths for all its Associates. For questions about joining the Summit platform as a team member or wash owner, please contact marketingcomm@summitwashholdings.com.

About Summit Wash Holdings

Summit Wash Holdings is the owner and operator of a rapidly expanding network of express car washes located in the Northeast, Midwest and Southeast regions. The company operates under two renowned brands, Russell Speeder’s and Waters Car Wash, both dedicated to providing customers with exceptional car wash experiences.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit, and net lease real estate funds with over $37 billion in assets under management. New Mountain seeks out what it believes to be the highest quality leaders in carefully selected “defensive growth” industry sectors and work intensively with management to build the value of these companies. Additional information about New Mountain Capital is available at www.newmountaincapital.com.

Contacts

Press

Summit Wash Holdings

Jason Baumgartner

561-899-0109

marketingcomm@summitwashholdings.com

New Mountain Capital

Dana Gorman / Matthew Butler

H/Advisors Abernathy

212-371-5999

dana.gorman@h-advisors.global / matthew.butler@h-advisors.global