Flagstop Car Wash Hires Spencer Rakes as Chief Operating Officer; Celebrates Continued Expansion of Central Virginia Footprint
July 08 2024 - 7:00AM
Business Wire
Recently Named “2024 Best Car Wash of Central
Virginia” by Virginia Living Magazine
Flagstop Car Wash (“Flagstop” or the “Company”), the leading
express car wash brand in Richmond, Virginia, today announced that
Spencer Rakes has joined the Company as Chief Operating Officer.
Mr. Rakes will leverage his diverse, multi-site experience to
execute on strategic initiatives aimed at providing premier guest
experiences, increasing operational efficiency and seamlessly
opening new stores. This addition further strengthens Flagstop’s
leadership team, supporting sustained growth as the Company plans
to open two more locations this summer, continuing momentum to
reach over 25 units by 2025.
“We are thrilled to welcome Spencer to Flagstop,” said Jamie
Nester, CEO of Flagstop. “His invaluable experience, especially
within the fuel industry, is closely aligned with our commitment to
our guests, and his depth of knowledge working with consumer-facing
companies and management teams will be a key asset for our growing
team.”
Mr. Rakes joins the team from Pilot, one of the largest
operators of fuel and travel centers in North America, where he
served as Vice President of Operations and spearheaded the growth
and performance of over 800 locations throughout the country. He
brings decades of experience working at national, multi-site
businesses including Dollar General, K-Mart and Wal-Mart, and a
deep understanding of synergies across industries.
“I’m excited to get started in my new role with the Flagstop
team,” added Mr. Rakes. “I look forward to leveraging my experience
scaling businesses to reinforce Flagstop’s commitment to the
Greater Richmond community and position Flagstop for our next era
of supercharged growth.”
Flagstop has been committed to bringing best-in-class car wash
services to the greater Richmond area since 1981, now offering
premium wash and membership services across soon to be 21 units.
The Company has invested meaningful time in establishing a
relationship of trust within the community since inception and has
built its business around its customer-focused model. As a result
of these efforts, Flagstop was recently named the “2024 Best Car
Wash of Central Virginia” by Virginia Living Magazine.
Flagstop’s continued expansion and success is supported by a
previous investment from Garnett Station Partners, a New York-based
principal investment firm that manages over $2.3 billion of assets.
Since the beginning of the partnership, Flagstop has grown its
local footprint with five additional sites and has two additional
locations set to open this summer.
About Flagstop Car Wash Flagstop Car Wash was founded
over 40 years ago in Chester, Virginia and is led by industry
executive Jamie Nester. Flagstop is the leading express car wash
platform in the greater Richmond market with 19 existing locations.
The Company is fueled by a highly recognizable brand, the “RVA Wash
Club,” and a multi-pronged Virginia centric growth strategy.
Flagstop is well-positioned to continue to capitalize on strong
industry tailwinds and its market leadership. For the latest news
from Flagstop as well as more information on the company’s
services, locations, and hours, please visit
www.flagstopcarwash.com.
About Garnett Station Partners Garnett Station Partners
is a principal investment firm founded in 2013 by Matt Perelman and
Alex Sloane that manages over $2.3 billion of assets. Garnett
Station partners with experienced and entrepreneurial management
teams and strategic investors to build value for its portfolio of
growth platforms. The firm draws on its global relationships,
operational experience and rigorous diligence process to source,
underwrite and manage investments. Core sectors include consumer
and business services, health and wellness, automotive, and food
and beverage. Garnett Station's culture is based on the principles
of entrepreneurship, collaboration, analytical rigor and
accountability. For more information, please visit
garnettstation.com.
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Gagnier Communications Dan Gagnier / Lindsay Barber
GSP@gagnierfc.com