MAMMOTH HOLDINGS NAMES JENNIFER VANDERVELDT CHIEF FINANCIAL OFFICER
ATLANTA, May 23, 2022 /PRNewswire/ -- Mammoth Holdings, America's premier express car wash platform, announced the appointment of Jennifer Vanderveldt as Chief Financial Officer, effective immediately. Ms. Vanderveldt most recently Chief Financial Officer at European Wax Center joins the senior management team established by David Hoffmann who took the helm as CEO in October of 2021.
"Jennifer is an extraordinary talent with the ideal skills to support Mammoth's transformation and growth trajectory" said Mammoth CEO David Hoffmann. "She has a proven track record of scaling businesses for generating growth and successfully managing and creating value for membership-based, recurring revenue businesses."
During her tenure at European Wax Center, Vanderveldt led the company's $200+ million IPO which became one of the top consumer issuances of 2021 with meaningful share price appreciations in its first two quarters of trading. Previously, she held leadership positions in finance, strategy, general management and data and analytics at top retail and consumer service brands including Petco and Michaels. She began her career as an investment banker at J.P. Morgan.
"There is an immense growth opportunity for Mammoth to become the leader within this large and highly fragmented market," said Vanderveldt. "Most importantly, I'm aligned with Dave's vision for delivering a customer-centric value proposition and a seamless experience across our family of brands. I am thrilled to support Mammoth's path forward," said Vanderveldt.
Vanderveldt will oversee Mammoth's accounting, finance, and information technology departments. She will focus on building a shared services corporate infrastructure to support operational excellence and leverage analytical insights to drive optimized business performance.
"Jennifer's exceptional financial and data analytics experience combined with COO Corey Joselin's expertise in continuous improvement and Six Sigma excellence make up a powerful executive team at Mammoth, well-equipped to achieve our vision of 500 sites by 2025," said Hoffmann.
Mammoth's co-founder, Chip Hackett, will be stepping back from his executive duties as Chief Financial Officer. Hackett will focus his efforts on Mammoth's Business Advisory Council (BAC), a team of owner operators who advise the organization on operational execution, best practices, real estate and site selection, and M&A integration.
Mammoth Holdings is the first car wash platform formed by industry insiders and has 99 operating locations. Mammoth is customer-focused operationally; operator-focused in its approach to acquisitions; and seeks to be the partner-of-choice for car wash operators who desire liquidity, growth capital, and a tax-deferred equity investment opportunity. Mammoth Holdings' multi-brand portfolio includes Coastal, Shine-N-Go, SUDS, Silverstar, Busy Bee, PureMagic, Marc-1, Ultra, Wash Me Fast, Wiggy Wash, Pals, Finish Line, LuLu's, Ollie's, PitStop, and Swifty, among others.
Mammoth has significant growth capital and is actively seeking acquisitions and development opportunities.
In October 2018, Mammoth partnered with Red Dog Equity LLC, an Atlanta-based private equity firm, which, through its partnership with Tom Pritzker's family business interests (advised by The Pritzker Organization), provides the equity for Mammoth Holdings' corporate development initiatives. Monroe Capital and Morgan Stanley provide Mammoth Holdings' debt financing.
About Mammoth Holdings
Headquartered in Atlanta, Mammoth Holdings operates 99 conveyor car washes under the Coastal, Shine-N-Go, SUDS, Silverstar, Busy Bee, PureMagic, Marc-1, Ultra, Wash Me Fast, Wiggy Wash, Pals, Finish Line, LuLu's, Ollie's, PitStop, and Swifty brands in Georgia, Alabama, Kentucky, Illinois, Utah, South Carolina, Mississippi, Louisiana, Indiana, Tennessee, North Dakota, South Dakota, Iowa, Nebraska, and Florida.
Mammoth Holdings was founded by Gary Dennis and Chip Hackett in 2002. To learn more, please visit us online at mammothholdings.com.
About Red Dog Equity LLC
Red Dog Equity LLC is a private equity firm that invests in lower middle-market companies poised for strong growth in partnership with driven, entrepreneurial business leaders ("Red Dogs"). To learn more, please visit reddogequity.com.
About The Pritzker Organization
The Pritzker Organization is the merchant bank for the business interests of the Tom Pritzker family. Additional information can be found at pritzkerorg.com.
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SOURCE Mammoth Holdings