Oaktree Capital Management, an American global asset management firm, completed the acquisition of a majority stake in Magnolia Wash Holdings, a fast-growing organization of express car washes, from A&M Capital, a private equity firm. Financial terms were not disclosed. "Magnolia and its management team have an impressive track record, and with our investment, we believe they are poised to grow into a preeminent operator in the industry. This is a special opportunity to partner with an experienced management team at a company that is well positioned to take advantage of the significant runway ahead," David Quick, Oaktree Managing Director.