By Jim Utter
Director of Journalism
Summit Wash Holdings is set to undergo an aggressive expansion campaign this year, nearly tripling its growth in sites from a year ago.
Summit, an industry-leading, membership-focused car wash group with operations in Connecticut, New York, Nebraska, Missouri, and Florida, debuted in 2022 and currently has two brands in its portfolio, Russell Speeder’s Car Wash and Waters Car Wash.
In 2023, Summit opened a total of 24 locations (four locations in Omaha, Nebraska; 13 in Florida and seven in Connecticut). Last year, the company opened just eight new sites (three in Florida and five in Connecticut).
By the end of this year, Summitt plans to grow with more than 20 new locations.
“We expanded quickly in 2023 and took a more selective approach in 2024 to integrate those sites,” Dan Pittman, Summit’s CEO, told Car Wash Daily News. “We will continue to be opportunistic, pursuing acquisitions that align with our strategic goals.”
Ray Underwood, Summit’s chief development officer, said the company’s current pipeline leans more toward acquisition for its new sites but it does have several greenfield locations in various stages of development.
“We have developed internal tools for evaluating sites and deals that is working for us,” Underwood said. “We are extremely disciplined in this process to ensure we’re doing everything we can to add sites that fit our strategic goals.
“We’ve placed emphasis on strategic growth opportunities that support our customers and that are in alignment with company initiatives and while we enjoy reflecting on the success of the team and the company, we have a lot of work ahead of us that we’re truly excited about.”
In fall of last year, Summit launched its new “Reflection” product throughout the Southeast United States and the expansion of the offering is continuing to all Russell Speeder’s locations by end of Q1 this year.
The product is the company’s proprietary blend of ceramic and graphene and reinforces the company’s commitment to enhancing customer experience.
“We’re committed to not only expanding our physical presence but also enhancing the quality of experiences we provide,” Pittman said. “Our focus remains on innovation, customer satisfaction, and sustainable growth as we continue to make an impact in the car wash industry and beyond.”
Established in 2022 and headquartered in Norwalk, Connecticut and Palm Beach Gardens, Florida, Summit was initially formed through a partnership with Russell Speeder’s Car Wash, a 21-site family-owned car wash platform, and New Mountain Capital, a New York-based investment firm.
Following its initial formation, Summit has continued to focus on growth in its core Northeast market while also growing its presence in Florida through the acquisitions of Waters Carwash in 2022.
Asked if there were any specific areas of the country Summit feels could be potential new markets in which to invest, Underwood said, “We will continue to focus on growing our existing and adjacent geographies.”
