By Jim Utter
Director of Journalism
Tagg-N-Go Car Wash, a fast-growing express car wash company founded in Southern Utah, recently announced it has secured a financing package from Andover Lending, a joint venture between TPG Angelo Gordon and Andover Properties, a real estate investment manager.
This financing, structured and arranged by Crewe Capital, further supports Tagg-N-Go’s recent growth acceleration by consolidating several debt facilities, extending debt maturities, enhancing current facilities, and funding its recent expansion into Southeast Idaho, where the company acquired and rebranded seven new locations.
It will also help enable future acquisitions and strategic expansion initiatives.
Established in early 2024, Andover Lending combines Andover Properties’ 20-year track record of investing in self-storage and other niche sectors facilities with TPG Angelo Gordon’s deep structured credit investment experience to originate non-recourse financing to sponsors nationally.
“This investment allows us to accelerate growth while staying true to our core values of building a strong culture and providing best-in-class service to our customers,” said Quinn Allgood, co-founder of Tagg-N-Go.
“With the support of TPG Angelo Gordon and Andover Properties – two firms with a strong track records of supporting companies like ours – we look forward to expanding our brand and continuing to deliver for our guests.”
Added co-founder Conner Atkin, “This financing and partnership with TPG Angelo Gordon and Andover Properties is a significant milestone for Tagg-N-Go.
“We’ve been working toward an investment like this to further our growth and couldn’t be more excited for what this means for our guests, our team members, and the communities we serve.”
David Busker, Head of Commercial Real Estate Debt at TPG Angelo Gordon, said the investment “reflects our confidence in the company’s commitment to quality and ability to deliver outstanding service to customers.”
Michael Bennett, Managing Partner of Crewe Capital, Tagg-N-Go’s exclusive financial advisor in the transaction, said Tagg-N-Go is now strongly positioned to be a dominant player in the car wash industry.
“We are proud to have supported Tagg-N-Go through this strategic partnership,” he said.
Founded in 2016 in St. George, Utah, Tagg-N-Go Car Wash has grown to 30 locations across Utah, Idaho, and Nevada.
Ranked among the top 40 conveyor car wash brands in the nation, Tagg-N-Go is known for its unlimited wash memberships, exceptional customer service, and deep community engagement.
