Mister Car Wash Announces Completion of Take-Private by Leonard Green & Partners

Mister Car Wash, Inc. has been acquired by investment funds managed by Leonard Green & Partners, L.P. in an all-cash transaction valued at $3.1 billion. The deal, announced on May 19, 2026, marks a significant milestone for the leading car wash brand in the United States, which operates approximately 550 locations nationwide. As part of the acquisition, Mister Car Wash's common stock will be delisted from Nasdaq, and shareholders will receive $7.00 per share in cash for their outstanding shares not already owned by LGP affiliates.

Founded in 1996 and headquartered in Tucson, Arizona, Mister Car Wash is renowned for its extensive network and innovative subscription services, which are the largest of their kind in North America. The company has built a reputation for delivering high-quality car wash services, emphasizing customer experience and environmental responsibility. The acquisition by LGP signals a strategic move to enhance the company's growth potential and operational flexibility, allowing it to invest further in its service offerings and technology.

Leonard Green & Partners, established in 1989 and based in Los Angeles, is a prominent private equity firm with over $85 billion in assets under management. The firm specializes in partnering with experienced management teams and has a history of investing in market-leading companies across various sectors, including consumer services. LGP's deep understanding of the car wash industry, coupled with its commitment to fostering growth, positions it as a strategic partner for Mister Car Wash as the company transitions to a private entity.

Management at Mister Car Wash has expressed enthusiasm about the acquisition, noting that the partnership with LGP will enable the company to focus on long-term growth strategies without the pressures of public market scrutiny. Some members of the management team have rolled over their ownership as part of the transaction, indicating their confidence in the company's future under LGP's stewardship.

The acquisition of Mister Car Wash by Leonard Green & Partners reflects broader trends in the private equity landscape, where firms are increasingly targeting companies with strong brand recognition and growth potential in the consumer services sector. As the car wash industry continues to evolve, driven by changing consumer preferences and advancements in technology, this transaction may pave the way for further consolidation and investment in the sector. The successful integration of Mister Car Wash into LGP's portfolio will be closely watched as an indicator of future opportunities in the market.