Leonard Green & Partners has agreed to acquire Mister Car Wash in an all-cash transaction valued at $3.1 billion, or $7.00 per share. The offer represents a 29% premium to the company's 90-day volume-weighted average price and has received unanimous approval from both an independent special committee and the board of directors. The transaction is expected to close in the first half of 2026, pending customary regulatory approvals.
The acquisition comes as Mister Car Wash continues to demonstrate operational momentum. The company reported fourth-quarter 2025 results highlighting 4% revenue growth alongside a 1.6% increase in comparable-store sales. Membership in the company's unlimited wash club segment expanded 7% during the period, underscoring the strength of its recurring revenue model and customer retention strategies.
The take-private transaction by the Los Angeles-based investment firm values Mister Car Wash's business model and growth prospects in the recurring-revenue vehicle services sector. The deal provides shareholders with certain liquidity at a meaningful premium while allowing the private equity partner to execute its operational and strategic vision outside of public market constraints.