Family office holding company (Hanks family) building car wash and convenience store chains
Back Nine Equity
- Websitebacknineequity.com
- Last verifiedOctober 27, 2026
At a glance
| Deal types | Add-on S3 |
|---|---|
| Geography | Southeast US, Texas S2 |
| Sectors | Auto Services & Collision, Consumer & Food |
What Back Nine Equity buys
Back Nine Equity is the family office of Ryan and Erica Hanks. It holds real estate, stakes in private companies and a group of operating businesses that it builds and means to keep for the long run, using family money rather than a fund with an end date. Its operating platforms are Links Car Wash, an express car wash chain with more than 40 sites in the Southeast and Texas, Fresh Stop convenience stores, GreenSpace Self-Storage and Madison Equipment Rental.
Back Nine publishes no revenue, EBITDA or check size targets. Its buying shows up mostly through Links, which has bought single car washes and small chains from their owners, often keeping the sites open while it rebrands and upgrades them. In July 2026 it agreed to buy the Woodie's Wash Shack brand from its founder, a deal that would give the combined chain 50 locations. An owner of an express car wash, or possibly a convenience store, in those regions is the most natural fit.
Recent deals
Announced in the 24 months before October 27, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jul 2026 | Woodie's Wash ShackAgreement to buy the founder-owned Tampa Bay express wash brand and merge it with Links Car Wash into a 50-site chain under the Woodie's name; still subject to closing when announced | Add-on | Auto Services & Collision | Source |
| Jan 2026 | Clean as a Whistle and Rocket ShineCar washes in Leesburg and Fort Myers, Florida, plus a partly built site in Anderson, South Carolina; Links bought 21 properties in 2025 | Add-on | Auto Services & Collision | Source |
| Dec 2025 | Slappy's Car Wash and Rich's Car WashTwelve Texas express washes: five Slappy's sites around Dallas-Fort Worth and seven Rich's sites in Houston | Add-on | Auto Services & Collision | Source |
| Aug 2025 | Waters Express Car Wash and Varsity Express Car WashExpress washes in Venice, Florida and Burleson, Texas, kept open during the switch to the Links brand | Add-on | Auto Services & Collision | Source |
| Feb 2025 | Sunset Car WashClearwater, Florida wash bought for a full redevelopment | Add-on | Auto Services & Collision | Source |
| Dec 2024 | Docs Car WashLeesburg, Florida wash, bought together with a development site in Oviedo | Add-on | Auto Services & Collision | Source |
| Dec 2024 | Jallo Car Wash and Blue Lagoon AutospaFour Tampa Bay area sites, three of them bought from owner Paul Jallo | Add-on | Auto Services & Collision | Source |
| Nov 2024 | Blue Penguin Car WashLargo, Florida wash that became the seventh Links location | Add-on | Auto Services & Collision | Source |
Portfolio by sector
From the firm's portfolio page S2.
Car Wash Operating Platform
- Links Car Wash
Convenience Retail Operating Platform
- Fresh Stop
Equipment Rental / Asset Leasing
- Madison Equipment Rental
Insurance / Risk Management
- Benjamin Ryan Insurance
Real Estate / Property Asset
- Madison Capital Group Holdings
Self-Storage / Development Platform
- GreenSpace Self-Storage
Wealth Management / Family Office
- Cameron Wealth Management
Greymont’s take
How Back Nine Equity fits a seller
Back Nine suits owners of express car washes in Florida, the Carolinas and Texas who want a buyer that already runs sites nearby, and possibly convenience store owners in the same regions. Most Links deals so far have been purchases of one to a dozen locations that are then remodeled and moved to the Links name, so a seller should expect the sign out front to change. The Woodie's deal had a different shape: the founder keeps a strategic role through a new company that holds the brand, and the combined chain takes the Woodie's name.
Because Back Nine is a family office with no fund clock, it can hold for a long time, but it says very little in public about how it values a business. An owner should ask whether the offer covers the land as well as the operating business, and what happens to the staff and the brand after closing.
Questions owners ask
Does Back Nine Equity buy car washes?
Yes. Through Links Car Wash it bought 21 car wash properties in 2025, including five Slappy's and seven Rich's sites in Texas that December, and in July 2026 it agreed to buy the Woodie's Wash Shack brand.
Is Back Nine Equity a private equity fund?
No. Its own materials call it the Hanks family office and the parent of Links Car Wash, investing in real estate, private equity and operating companies. It does not describe a fund or a fixed holding period.
Where does Back Nine Equity buy businesses?
Its car wash and convenience store platforms run in the Southeast and Texas. The combined Links and Woodie's chain would operate in North Carolina, South Carolina, Florida and Texas.
Sources
- S1Back Nine Equity home page Accessed October 27, 2026
- S2Back Nine Equity: Portfolio Accessed October 27, 2026
- S3Links Car Wash to Acquire Woodie's Wash Shack (July 27, 2026) Accessed October 27, 2026
- S4Back Nine Equity: Leadership Accessed October 27, 2026
- S5Back Nine Equity: About Accessed October 27, 2026
- S6Links Car Wash Closes Out 2025 with Continued Expansion in FL and SC (January 5, 2026) Accessed October 27, 2026
- S7Links Car Wash Expands Texas Presence with 12 New Sites (December 30, 2025) Accessed October 27, 2026
- S8Links Car Wash newsroom Accessed October 27, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Back Nine Equity. Figures are as reported on the dates shown and may have changed. Request a correction