Arvada’s Mark VII Equipment, one of the nation’s largest touch-free carwash manufacturers, has been acquired by German-based WashTec AG, the world’s largest supplier of carwash equipment.
The cash deal, which is to close by the end of the month, will enable Mark VII to expand its Arvada operation and add to its roster of 130 local workers, said Dave Smith, president and chief executive.
“Our presence in Denver will be growing,” said Smith, who will step down as chief executive but stay on as an adviser.
Christian Bernert of WashTec AG will head the operation, Smith said.
“Entering the U.S. market in a meaningful way has been an important long-term strategic objective for us,” Thorsten Kruger, CEO of WashTec AG, said in a statement.
As a result of the deal, Mark VII plans to modify its Arvada production plant to begin manufacturing WashTec AG’s so-called “friction” carwash systems, which use foam brushes or soft cloths to clean vehicles. Touch-free systems are preferred in the U.S., while friction washes are more popular in Europe, Smith said.
Mark VII, which designs, manufactures and distributes the systems, sells them to convenience stores and stand-alone carwashes. Its machines are used at 400 Front Range locations.
Privately held Mark VII, the third-largest U.S. carwash equipment maker, has about $40 million in annual revenue.
The company, founded in 1966 by longtime Denver resident Harry Mathews, declined to disclose the sale price.
Staff writer Will Shanley can be reached at 303-820-1260 or wshanley@denverpost.com.
