AKRON, Ohio, March 24, 2021 /PRNewswire/ — DRB Systems, a leading provider of software and hardware innovations to the car wash industry, announced today that it has acquired Washify, an advanced car wash point-of-sale system.
“Today, more than ever, we have assembled the best minds in the car wash industry,” said DRB CEO and President Dan Pittman. “We have not only joined two of the best car wash technology lineups, but we have also joined two of the most talented teams.”
We have not only joined two of the best car wash technology lineups, but we have joined two of the most talented teams.
DRB and Washify represent two of the fastest growing brands in the car wash space. By joining forces, they can offer car wash operators the widest set of technology solutions to profitably grow their businesses.
“Our industry is rapidly transforming. Recent consolidations warranted a change,” said Washify President Adam Korngold. “We wanted to be aligned with a best-in-class partner that supports our growth. I wanted to work with an organization that had the best interest of our employees at heart and that would allow us to remain in the industry doing what we love. DRB is that partner.”
Both companies will maintain their own brand entities and industry niches, leveraging synergies where possible to achieve the common goal of helping car wash operators sweat their assets. Korngold will continue to serve as President of Washify while Pittman continues to lead DRB as CEO.
DRB acquired Washify from Adam Korngold and private equity firm Ambina Partners, with the help of legal services provided by Benesch and insurance brokerage and risk management consulting provided by Marsh, a business of Marsh McLennan. Legal services were provided to Washify by King & Spalding.
About DRB
For over a third of a century, DRB supported – and often drove – an era of unprecedented growth in the car wash industry with point-of-sale and wash optimization software, hardware and services. Now as a masterbrand that includes DRB Tunnel Solutions, DRB In-Bay Solutions, Suds Creative, eGenuity, Washify and Sage Microsystems, that tradition continues. The DRB team works together toward a singular goal: To help all car wash operators squeeze every ounce of profitability out of their investments. They do this with data and industry insights, a best-in-class team and reliable, intuitive innovations that delight consumers and are secure, simple to service and easy to use. DRB is owned by New Mountain Capital, a New York-based investment firm
About Washify
Built by car wash owners, for car wash owners, Washify is a leading provider of point-of-sale and marketing solutions. Washify’s cutting edge software and hardware products empower car washes to better attract and service customers while growing their businesses and increasing profits. Based in West Roxbury, MA, Washify was founded in 2010 by Adam Korngold, a former car wash operator who saw firsthand the need for technological innovation in the industry.
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, net lease real estate and public equity funds with over $30 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.
About Ambina Partners
Ambina Partners is a private equity firm investing in growth-oriented middle market companies. Ambina partners with forward-thinking management teams in sectors including enterprise software, financial services/insurance and other technology-enabled businesses. Ambina provides companies with the strategic and operational support that delivers long-lasting results. For more information on Ambina Partners, please visit www.ambina.com.
Media Contact
Taryn Chmielowicz
Vice President of Marketing
DRB
330-645-4200
tmchmielowicz@drb.com