ZIPS Car Wash Announces Successful Emergence from Financial Restructuring and Appointment of Industry Leader Pete Nani as Chief Executive Officer

PLANO, Texas--(BUSINESS WIRE)--Zips Car Wash, LLC (together with its affiliates, collectively “ZIPS” or the “Company”), one of the largest privately-held car wash operators nationwide, announced that it has successfully completed its financial restructuring and emerged from its chapter 11 process on April 30, 2025, following confirmation of the Company’s Plan of Reorganization on April 18, 2025. ZIPS emerges from this process as a financially stronger company, better positioned to continue providing a high-quality wash experience and service at the best value for its customers.

Through its financial restructuring, ZIPS reduced its debt obligations and secured access to additional liquidity through a new revolving credit facility to support future strategic initiatives. The Company will continue to operate as usual with no change to its service offerings, customer experience or value proposition for ZIPS Unlimited Wash Club Members.

In connection with ZIPS’ emergence, the Company also announced the appointment of industry leader Pete Nani as its new Chief Executive Officer to lead ZIPS into the future. Nani brings more than three decades of car wash industry experience and a proven track record of excellence to ZIPS, having played a pivotal role in shaping iconic car wash brands, including Mister Car Wash and Wash Depot Holdings. Most recently, Nani served as CEO of Clean Freak and Rainstorm Car Wash, owned by Circle K, where he established and scaled Circle K’s express car wash platform.

"I am thrilled to join ZIPS at this pivotal moment to help lead the Company into its next chapter as a stronger, more resilient organization," said Pete Nani, incoming Chief Executive Officer of ZIPS. "With the financial restructuring completed, a solidified operational footprint, and a renewed focus on sustainable growth, we have a unique opportunity to redefine ZIPS’ future. I’m excited to work alongside our talented team to build on the brand’s legacy and deliver with excellence for our customers in the months and years ahead."

ZIPS emerges under the ownership of a group of its existing institutional investors, who are highly supportive of the Company’s go-forward strategy. With a healthier financial foundation and an optimized real estate portfolio, ZIPS is poised to seize new growth opportunities, invest in its strongest assets, and continue providing high-quality service at the best value for customers.

ZIPS’ Board of Directors looks forward to partnering with Nani and the leadership team to enhance the Company’s business outlook following its successful financial restructuring. By leveraging a clear strategic direction and compelling customer value proposition, ZIPS is well-positioned for sustained growth as leader in the car wash industry.

Advisors

Kirkland & Ellis LLP and Gray Reed are serving as legal counsel, Evercore Group LLC is serving as investment banker, AlixPartners LLP is serving as financial and restructuring advisor, and C Street Advisory Group is serving as strategic communications advisor. ZIPS retained Hilco Real Estate LLC to assist with lease negotiations. Paul Hastings LLP is serving as legal counsel to the new ownership group.

About ZIPS Car Wash

ZIPS Car Wash, headquartered in Plano, Texas, is one of the largest privately-held car wash operators nationwide, operating approximately 230 locations under three brands: ZIPS Car Wash, Rocket Express Car Wash, and Jet Brite Car Wash. With more than 20 years of car washing experience, ZIPS prides itself on providing the highest quality express car wash in the industry. ZIPS uses the latest industry technology to provide a clean, dry, and shiny vehicle and exceptional customer experiences every day. The ZIPS team aims to positively impact the communities we live and serve in. To learn more visit www.zipscarwash.com.