Mr. Magic Car Wash acquires a platform in Coates Car Care, a full-serve and express wash combo portfolio with 5 sites in Ohio and 1 in Pennsylvania.
Market Significance
The transaction marks Mr. Magic’s first entry into the Ohio market in aggressive fashion; skewing away from their current operations in Pennsylvania and West Virginia and further westward into uncharted territory with notable competition around.
Despite this, President and Operating Officer Joe Krydick of Steely City Wash (dba Mr. Magic Car Wash) is confident in this decision while stating the following: “Coates Car Care has built a robust business model that aligns perfectly with ours, offering express service, innovative technology, competitive pricing and an unwavering commitment to our guests and community. We are thrilled to welcome Coates Car Care into the Mr. Magic family.”
“I am confident that Mr. Magic will continue to add incredible value for our guests by giving them access to a larger footprint of locations and providing outstanding service and care that they have come to expect from Coates Car Care,”said Jim Coates, former owner of Coates Car Care.”I am very grateful for our team’s opportunity to join an amazing company. This is an exciting time for my family, and I look forward to watching Mr. Magic take this company to new heights."
