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EverWash enhances services through acquisition of Coinless

May 16, 2024•over 1 year ago

Acquiring Company

Everwash Inc.

Acquired Company

Coinless

PhiladelphiaSalt Lake CityPaymentsFinancial ServicesSoftwareOtherMobileArtificial Intelligence

Description

EverWash, a membership-based carwash solution, has acquired Coinless, a mobile payment solutions provider in the carwash industry. This acquisition signifies a significant step forward for EverWash in developing in-house hardware solutions and expanding its market reach to cater to a wider variety of wash types.

Company Information

Company

Everwash Inc.

Location

1 WINDING DRIVE

Philadelphia, Pennsylvania, United States

About

EverWash is the industry’s fastest-growing car wash network, with more than 750 participating locations across the United States. EverWash’s team of membership experts provide ongoing sales, marketing and customer support to partner washes, while the EverWash App gives customers the ability to sign-up for and manage their membership anytime and anywhere.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed