Mister Car Wash, a portfolio company of Canadian private equity firm Penfund, has acquired seven Venture Car Washes, which has store locations across Mississippi. No financial terms were released. The deal gave Tucson, Arizona-based Mister Car Wash access to the Mississippi market and increased its operations to 172 car washes and 32 lube centers in 20 states. Penfund invested US$15.1 million of debt and equity in Mister Car Wash in 2014, not long after it was bought by Leonard Green & Partners. The company was previously owned by ONCAP.
Mister Car Wash Enters Mississippi with Seven-Store Acquisition
TUCSON, Ariz., April 14, 2016 /PRNewswire/ — Mister Car Wash, the fastest growing car wash company in the U.S., entered Mississippi with its April 13th acquisition of seven Venture Car Washes. Venture opened its first car wash in Ridgeland in 2003, adding stores in Brandon, Clinton, Meridian, Flowood and two in Jackson by 2013. This acquisition represents the company’s 20th state and 29th market.
“From day one of working with the Venture team it was clear we share a similar vision to offer the best customer experience and career opportunities,” said Casey Lindsay, Director of Acquisitions for Mister Car Wash. “We are proud to bring the Mister Car Wash experience to central Mississippi, marking another key milestone as we continue to expand our operations across the United States.”
The Tucson, Arizona-based company now employs close to 7,000 car care professionals with 172 car washes and 32 lube centers in 20 states. For information about services and career opportunities available with Mister Car Wash, visit www.mistercarwash.com.
About Mister Car Wash
Mister Car Wash (www.mistercarwash.com) operates 172 car washes and 32 express lubes in 20 states. Headquartered in Tucson, Arizona, Mister Car Wash is an operating company of Leonard Green & Partners L.P.
About Leonard Green & Partners
Leonard Green (www.leonardgreen.com) is one of the nation’s preeminent private equity firms with over $15 billion of private equity capital raised since inception. Founded in 1989, the firm has invested in 72 companies with aggregate value of over $60 billion in the form of traditional buyouts, going-private transactions, recapitalizations, growth capital investments, corporate carve-outs and selective public equity and debt positions. Based in Los Angeles, CA, Leonard Green invests in established companies that are leaders in their markets.
Photo courtesy of Mister Car Wash