Feb. 18 at 4:34 PM
Mister Car Wash is going private in an all-cash deal led by funds managed by Leonard Green & Partners, which will pay
$7 per share .
The transaction values the company at
$3.1 billion and represents a 29% premium to the average share price over the past 90 days. Shares rose 16% in premarket trading to
$7.
Mister Car Wash went public in 2021 as the first pure-play carwash chain in the U.S., hitting a post-IPO high of
$23.53, but the stock steadily declined afterward. While revenue grew from
$758 million in 2021 to
$1.05 billion in 2025 and locations expanded from fewer than 400 to about 550, adjusted earnings remained flat at
$0.44 per share.
The deal allows long-term shareholders to recoup part of their losses, while the company aims to accelerate expansion in a still-fragmented market. The transaction, which returns ownership to LGP—its prior owner since 2014—is expected to close in the first half of 2026.
$MCW