NEW YORK - September 7, 2020 — Greenspring Growth Partners proudly announces the launch of Express Car Wash Partners, an innovative platform set to transform the car wash industry. This strategic initiative underscores Greenspring Growth Partners' commitment to revolutionizing the sector by integrating advanced technology and sustainable practices into the car wash experience.

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Investment Rationale

The decision to launch Express Car Wash Partners is driven by Greenspring Growth Partners' newly established thesis in the automotive sector. Recognizing the untapped potential in the car wash market, the Firm aims to support forward-thinking projects that deliver superior customer experiences and operational efficiency. The introduction of an unlimited membership model is a cornerstone of this strategy, offering customers unlimited car washes for a flat monthly fee. This model addresses the growing demand for convenient, cost-effective car wash solutions, fostering customer loyalty and ensuring a predictable revenue stream.

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Innovative Unlimited Membership Model

A key innovation of Express Car Wash Partners is its subscription-based service, which offers several benefits:

• Cost Savings: Customers can enjoy significant savings with a flat monthly fee instead of paying per wash.
• Convenience: Unlimited access to car wash services makes it easy for members to maintain their vehicles without additional costs.
• Customer Loyalty: The membership model encourages repeat business, building a loyal customer base.
• Revenue Predictability: For Express Car Wash Partners, the subscription model ensures a steady, predictable revenue stream, facilitating better financial planning and investment in further innovations.

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Express Car Wash Partners integrates cutting-edge technology into its operations, including:

• Automated Systems: Advanced automated car wash systems that provide efficient, high-quality cleaning with minimal wait times.
• Eco-Friendly Solutions: Sustainable practices such as water recycling and biodegradable cleaning products to minimize environmental impact.
• Smart Membership Management: Digital platforms for managing memberships, tracking customer preferences, and offering personalized promotions and services.

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Strategic Growth Initiatives

Express Car Wash Partners plans to pursue multiple growth initiatives, including expanding its platform to new markets and exploring strategic partnerships within the automotive services sector. The platform is set to debut in major metropolitan areas in the third quarter of 2020, with further expansions planned for 2021.

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A Milestone in Innovation and Excellence

The launch of Express Car Wash Partners marks a significant milestone in Greenspring Growth Partners' ongoing commitment to innovation and excellence. By embracing an unlimited membership model and investing in advanced technology and sustainable practices, the Firm aims to set new standards in customer service and operational efficiency in the car wash industry.