- Leonard Green has backed Mister Car Wash since 2014 and currently holds about 67% of the company’s shares.
- The agreement allows the firm to consolidate full ownership by purchasing the remaining publicly traded stock.
- After the acquisition, Mister Car Wash will delist from the Nasdaq and operate as a privately held business.
Mister Car Wash Inc. (MCW) announced on Wednesday that it has agreed to be taken private in an all-cash deal led by investment funds managed by Leonard Green & Partners, L.P., the private equity firm that already controls a majority stake in the company.
The transaction values the car wash operator at an enterprise value of roughly $3.1 billion.
Ownership And Deal Structure
Under the definitive merger agreement, Leonard Green will acquire the remaining shares it does not already own for $7.00 per share in cash, representing a 29% premium to the stock’s 90-day volume-weighted average price through February 17.
Following the announcement, Mister Car Wash stock traded over 15% higher in Wednesday’s premarket. On Stocktwits, retail sentiment around the stock jumped to ‘extremely bullish’ from ‘bearish’ territory the previous day. Message volume changed to ‘extremely high’ from ‘normal’ levels in 24 hours.
Leonard Green has backed Mister Car Wash since 2014 and currently holds about 67% of the company’s outstanding common shares. The agreement allows the firm to consolidate full ownership by purchasing the remaining publicly traded stock.
Turning Into A Private Company
Once the acquisition closes, Mister Car Wash will delist from the Nasdaq and operate as a privately held business under LGP’s control. A special committee of independent directors reviewed and unanimously endorsed the proposal.
The companies expect to finalize the transaction in the first half of 2026.
For the fourth-quarter (Q4), Mister Car Wash reported a revenue of $261.2 million and an adjusted earnings per share (EPS) of $0.11. While revenue came in below the analysts’ consensus estimate of $262.03 million, EPS was in line with the $0.1 estimate, according to Fiscal AI data.
Also See: Nvidia Leads Most Under-Owned Mega-Cap Tech Stocks, Says Morgan Stanley: Report
For updates and corrections, email newsroom[at]stocktwits[dot]com.