Mister Car Wash Completes Acquisition with Total Enterprise Value of $3.1B
Mister Car Wash announced the successful completion of its acquisition by investment funds managed by Leonard Green & Partners, L.P. in an all-cash transaction which implies a total enterprise value of the company of $3.1B. "We are excited for the next phase of growth and going private gives us greater flexibility to continue investing behind providing a superior customer experience," said John Lai, Chairman and CEO of Mister Car Wash. "We couldn't be more excited about the opportunity to partner with Leonard Green during this next phase. They have been a great partner since 2014 and understand the business and industry deeply." As a result of the transaction, members of management rolled over some of their ownership of the company and LGP acquired all of the other outstanding shares of the company's common stock that were not already owned by LGP's affiliates for $7.00 per share in cash. Mister Car Wash's common stock has ceased trading and will be delisted from Nasdaq.
