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Article: JPMorgan Partners Announces Acquisition of IMO Car Wash Group From Bridgepoint.
- Article from:
- PR Newswire
- Article date:
- January 5, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON, January 5 /PRNewswire/ -- JPMorgan Partners (JPMP), the private equity arm of J.P. Morgan Chase & Co. (NYSE: JPM), announced today that they have signed a definitive agreement under which JPMP will acquire IMO Car Wash Group Ltd from a group of financial investors led by Bridgepoint including Phoenix Equity Partners. The acquisition is valued at GBP350m (US$610m), with JPMP acquiring the entire company. Bret Holden, Chief Executive Officer of IMO, will continue to lead the company following the acquisition.
Based in London, and founded in 1965, IMO Car Wash Group Ltd is the world's largest conveyor car wash business and is marketed under the IMO ...
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