<<Company Press Release>>
Tunnel Equity Partners announced on April 8th, 2022 that the firm has closed on a $7.5MM senior secured debt facility package to complete the firm’s $4.5MM equity investment for a total project capitalization of $12,000,000, to develop the Captain Car Wash Co. Plano #1, and Captain Car Wash Co. Fort Worth #1 locations.
Texas Heritage National Bank located in Farmers Branch, Texas completed the debt round and has expressed further interest to provide additional financing for Captain Car Wash Co. developments.
Tunnel’s CEO, Derek Evans, had this to say;
“We couldn’t be more excited to have such a supportive financial partner like Texas Heritage National Bank to continue the roll out of Captain Car Wash Co. across the vibrant Dallas Forth Worth market.”