M&A Deal Summary

AEA Investors Acquires Splash Car Wash

On April 25, 2025, private equity firm AEA Investors acquired consumer services company Splash Car Wash from Palladin Consumer Retail Partners and Goldman Sachs Merchant Banking

Acquisition Highlights
  • This is AEA Investors’ 6th transaction in the Consumer Services sector.
  • This is AEA Investors’ 105th transaction in the United States.
  • This is AEA Investors’ 3rd transaction in Connecticut.

M&A Deal Summary

Date 2025-04-25
Target Splash Car Wash
Sector Consumer Services
Buyer(s) AEA Investors
Sellers(s) Palladin Consumer Retail Partners
Goldman Sachs Merchant Banking
Deal Type Secondary Buyout

Target

Splash Car Wash

Milford, Connecticut, United States
Splash Car Wash is an operator of car washes with 18 locations in New York and Connecticut. The Company offers full service, hand wash, express, and self-service alternatives, as well as oil and lube services at premier locations. Splash Car Wash was formed in 1981 and is based in Milford, Connecticut.

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Buyer(S) 1

Buyer

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.


DEAL STATS #
Overall 120 of 121
Sector: Consumer Services M&A 6 of 6
Type: Secondary Buyout M&A Deals 56 of 57
State: Connecticut M&A 3 of 3
Country: United States M&A 105 of 106
Year: 2025 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-05 Huge

Brooklyn, New York, United States

Huge is an independent interactive agency that takes clients beyond online marketing campaigns to the creation of sustainable online businesses. Huge was founded in 1999 and is based in Brooklyn, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-09 Pave America

Warrenton, Virginia, United States

Pave America is a provider of asphalt and concrete solutions, including maintenance, repair, milling, sealcoating, and new paving services to commercial, municipal, and institutional customers as well as general contractors. Pave America is based in Warrenton, Virginia.

Buy -

Seller(S) 2

DESCRIPTION

Palladin Consumer Retail Partners is a private equity firm focused on consumer and retail company investments across North America. The Firm looks to invest $25to $100 million in companies with $50 to $500 million of revenue. Specific areas of interest include specialty stores, branded apparel, drug stores, discount chains, food retailers, wholesalers and manufacturers of consumer goods, consumer services, and e-commerce. Palladin Consumer Retail Partners was formed in 1998 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 4 of 4
Sector: Consumer Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
State: Connecticut M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2025 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-16 KT TAPE

American Fork, Utah, United States

KT TAPE produces kinesiology tape and related sports medicine products in the retail market. The company's kinesiology tape provides a localized increase in blood flow to relieve pain and provide support for muscle pain and common injuries. KT TAPE was founded in 2008 and is based in American Fork, Utah.

Sell -
SELLER

Goldman Sachs Merchant Banking

New York, New York, United States

Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 125 of 126
Sector: Consumer Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 33 of 34
State: Connecticut M&A 3 of 3
Country: United States M&A 90 of 90
Year: 2025 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-15 PeopleStrong

Gurgaon, India

PeopleStrong is a multi-process HR outsourcing and HR technology company. PeopleStrong was founded in 2006 and is based in Gurgaon, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-01 Smart Communications

London, United Kingdom

Smart Communications is a provider of cloud solution for customer and business communications. Smart Communications was founded in 2004 and is based in London, United Kingdom.

Sell -