By Jim Utter
Director of Journalism
AlphaEdge Investment Management, a subsidiary of the United Heritage Financial Group, recently announced a new strategic investment in AquaSonic Car Wash.
AquaSonic is a new brand whose creation was announced in January 2024, by the London and West Palm Beach, Florida-based Henley Investment Management as its first entrance into the U.S. car wash market.
AlphaEdge, an asset management company based in Meridian, Idaho, combines expertise in traditional insurance portfolio management with a focus on alternative investments. The company said its commitment to innovative growth and strategic investment aligns with AquaSonic’s vision for the future of the car wash industry.
“We are excited to partner with AquaSonic Car Wash, whose innovative approach and commitment to excellence resonate with our investment strategy,” Dean Sandros, President of AlphaEdge, said in a statement.
“We look forward to supporting their growth and success with this exciting opportunity.”
AlphaEdge said its investment encompasses 14 AquaSonic sites across three funds. AquaSonic launched Fund I in Q4 2023 and has since successfully introduced Fund II and Fund III, bringing the total combined fund size to $150 million in both debt and equity.
This year, AquaSonic plans to expand its pipeline by adding 20 additional sites. Its first four sites – in the Tampa, Orlando and West Palm Beach areas – are set to open soon.
Henley promotes AquaSonic as a “pioneering express tunnel car wash service” which uses technology to create what it says is the most “environmentally friendly, efficient and highest quality car wash.”
Henley initially announced an investment of around $10 million from a group of Florida investors in early 2024 for the first phase of its business, which included its first three sites in
“We are honored to welcome AlphaEdge as a strategic limited partner. Their investment is a testament to the strength of our vision and the potential of our brand to succeed in the car wash industry,” said Garrett Solomon, CEO of AquaSonic Car Wash.
“We are poised to redefine what a smart car wash experience is for consumers.”
Solomon said the new relationship reflects a shared vision between AquaSonic and AlphaEdge, creating opportunities for continued innovation and expansion in the industry.
Henley is an international investment and fund management firm with a focus on private equity real estate, managing both institutional and private investor capital. It has deployed around $3.6 billion in capital and carried out over 100-plus discrete investments, which span the UK, Europe, and the U.S.
