Sales: $160 million (estimated).
Key Personnel: Steve Knoop, chief executive officer; Denis Healy Sr., co-chairman of Turtle Wax, Inc; and Sondra Healy, co-chairman of Turtle Wax, Inc.
Major Products: Automotive care products such as waxes, polishes and washes.
New Products: Turtle Wax Rinse Free Wash & Wax, Turtle Wax Black Tire Coat, Turtle Wax Platinum Wheel and Tire Cleaner
Comments: Americans know that cleaning up the Family Truckster means breaking out the hoses and the Turtle Wax….well, maybe they don’t need the hose anymore; Turtle Wax has rolled out a new rinse-free wash and wax product. Using only four ounces of product and two gallons of water, Turtle Wax Rinse Free Wash & Wax cleans all exterior surfaces from plastic and rubber to paint and glass without the need to rinse, allowing car enthusiasts and the weekend washer to clean quickly and efficiently. In fact, one bottle can clean up to eight cars, according to the brand.
The big news at the company this past year has been the appointment of Steve Knoop as CEO. Knoop was also tapped to serve as CEO of Healy Family Holdings, Inc., the private parent company set up to hold Turtle Wax and other Healy assets.
“Steve embodies so much of what Healy Family Holdings represents as a leader, collaborator and innovator,” said Denis Healy Sr., co-chairman of Turtle Wax, Inc. “We are looking to him to support our evolving business needs with effective executions that challenge the status quo.”
“Having an entrepreneurial family background, I am thrilled to join the Healy Family which traces its roots back to the entrepreneurial spirit of Ben Hirsh founding Turtle Wax,” said Knoop. “I am eager to identify opportunities for Healy Family Holdings and continue to grow the value of such an iconic brand like Turtle Wax. It’s an exciting time to be joining Healy Family Holdings, and I look forward to playing a role in the continued success and growth of one of America’s great family-owned companies.”
Prior to Healy Family Holdings, Knoop was managing principal of First Chicago Advisors, Inc.
It may be 70 years old, but Turtle Wax recently unveiled humorous social media campaign for the summer called Wax On, Shirt Off. Partnering with national radio personality and former pro-football player Mike Golic, Turtle Wax says it wants car owners to join in the fun by taking off their shirts, washing their cars and sharing socially. To make it easier for car owners to snap those topless photos and post them on social media, each picture shared helps the Hartford’s Camp Courant, the largest, free summer camp in the country.
In December, Turtle Wax sold its Professional Products business to partner company Transchem, Inc. Turtle Wax had worked with Transchem for the past three years, utilizing its technology and manufacturing facilities for the Professional Product line.
“Transchem has been an invaluable partner in our efforts to grow the Turtle Wax Professional Products business,” Turtle Wax COO Tom Healy said. “We consider this sale a significant factor in positioning the line to take the next step toward sustainable growth.”