Mister Car Wash, a portfolio company of Canadian private equity firm Penfund, has bought Auto Spa Express, a car wash and detail centre located in Aurora, Colorado. No financial terms were released. As a result of this and other recent acquisitions, Mister Car Wash now operates 160 car wash locations in 19 states. Penfund invested US$15.1 million of debt and equity in the Tucson, Arizona-based company in 2014, several months after it was acquired by Leonard Green & Partners. Mister Car Wash was previously owned by ONCAP.
Mister Car Wash Enters Colorado
TUCSON, Ariz., Nov. 18, 2015 /PRNewswire/ — With its November 17th acquisition of Auto Spa Express in Aurora, Colorado, Mister Car Wash is now thrilled to be doing business in 19 states with 160 car wash locations in all.
“We’re excited to join forces with the team from Auto Spa Express to begin serving customers in the Denver market at this prime location,” said John Lai, President and CEO of Mister Car Wash.
Mister Car Wash’s latest acquisition is a double tunnel, exterior only car wash situated in Southland, the largest outdoor mall in the US. With two tunnels to handle heavy volume plus detail services, it is expected to be one of Mister Car Wash’s highest volume locations.
“During its ten years in business at this location, Auto Spa has kept pace well with increasing demand from the growing Denver market. Being situated inside the largest outdoor mall in the United States will give us an awesome opportunity to introduce the Mister Car Wash experience to Denver customers,” said Lai.
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 160 car washes and 34 express lubes in 19 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