WhiteHorse Capital Provides Financing to Texas Express Wash
January 12, 2026 – WhiteHorse Capital is pleased to announce that it has provided a new senior secured credit facility for Texas Express Wash, LLC (“ClearWater” or the “Company”) to support its acquisition of BlueWave Express Car Wash (“BlueWave”). Proceeds were used to refinance existing debt, purchase BlueWave, and pay related transaction fees and expenses, with additional capital available to develop and acquire future sites. Founded in 2007, BlueWave is a Texas-based car wash platform with locations in Texas and California. Since 2023, BlueWave’s operations have been fully managed by ClearWater, a Texas-based car wash platform. Given this dynamic, the two companies have been operating successfully in tandem for several years prior to this combination.
“We’re excited to partner with WhiteHorse Capital as we enter the next phase of our Company’s growth,” said Terral Hill, CEO of ClearWater.
“Their flexible capital and deep understanding of our business will support us as we continue to execute on our strategic objectives and expand our platform.” James Favero, Managing Director at WhiteHorse Capital, added, “ClearWater is well-positioned to be a dominant player in the car wash space in Texas, California and beyond. We are enthusiastic to support the Company in their continued expansion and growth trajectory. This investment reflects our confidence in ownership and management’s ability to deliver outstanding service to customers, with full commitment to a quality offering.”
About BlueWave Express
Founded in 2007, BlueWave Express operates 53 express car wash locations. BlueWave Express has a significant presence in Houston, the Rio Grande Valley, and San Antonio, with additional sites in Central Texas and Northern California. BlueWave incorporates water-filtration and conservation systems across its sites and positions environmental management as a core operating practice.
About ClearWater Express Wash
ClearWater was founded in 2020 and operates 28 express car wash locations in Texas. The Company has grown primarily through new unit development supported by an in-house real estate and development team. ClearWater emphasizes consistent operations and customer experience across its locations.
About WhiteHorse Capital
WhiteHorse Capital provides debt financing to middle market companies across a wide range of industries, including Telecom, Media and Technology, Healthcare, Business Services and Financial Services. WhiteHorse has a broad investment mandate and provides senior and subordinated debt for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. WhiteHorse Capital professionals, across the U.S. and Europe, have extensive experience and a proven track record of providing creative financing structures and employing a long-term relationship oriented portfolio management philosophy. For more information, visit whitehorse.com.