Allen & Overy is advising TDR Capital LLP on the sale of the International Car Wash Group (ICWG) to an affiliate of Roark Capital Group.  ICWG is the world’s largest car wash operator, washing more than 35 million cars every year through 900 locations across Europe, Australia and the U.S.
TDR Capital acquired ICWG in 2014 and has worked with management to grow the company significantly in recent years by opening new sites in existing markets as well as investing in an extensive refurbishment programme and expanding its international presence.  The sale is expected to close in the fourth quarter of 2017.
 
The A&O team comprised lawyers from the UK and U.S., led by private equity partners Bill Schwitter in New York and Peter Banks in London.