PPR Capital Management Launches New Opportunity Fund  

PPR Capital Management, a Berwyn, PA-based private equity real estate investment firm, launched its PPR Opportunity Fund, in partnership with Olympus Pines, a retail business developer and operator.  

The investment will fund the building of new car wash businesses in “strategic, high-growth markets” across the U.S. 

The firms stated that they had identified the car wash market as “ripe for disruption, highly fragmented, and growing rapidly,” with annual revenue exceeding $10 billion and a 5-year compounded annual growth rate of 4.5%. 

“Consistent with our strategy of investing in both real estate-backed opportunities, and unique investment opportunities to provide our investors with higher upside performance, we are excited to partner with Olympus Pines on our first of several Opportunity Funds,” said Steve Meyer, CEO at PPR Capital Management. 

The fund, which will be managed by both PPR and Olympus Pines, will develop and operate Tommy’s Express Car Washes. 

While most individual car washes in the U.S. are owned and operated by small local operators, Olympus Pines is in the process of developing an operating platform of more than 100 car washes, the firm noted. 

Hear from industry leaders in real estate capital raising like Loci Capital managing principal, head of investor relations & product development Casey Wilson at the Connect Money: Real Assets Capital Raise event on June 5 in Chicago at the W City Center.