Mister Car Wash, a portfolio company of Canadian private equity firm Penfund, has bought four Bill’s Car Washes in the Florida communities of Casselberry, East Orlando, Sanford and Chickasaw. The deal’s financial terms were not released. As a result, Mister Car Wash now operates 164 car wash locations in 19 states. Penfund invested US$15.1 million of debt and equity in the Tucson, Arizona-based company in 2014, not long after it was acquired by Leonard Green & Partners. Mister Car Wash was previously owned by ONCAP, the mid-market investment platform of Onex Corp.
PRESS RELEASE
Mister Car Wash expands in Florida
TUCSON, Ariz., Feb. 11, 2016 /PRNewswire/ — Mister Car Wash has expanded its Florida footprint with the acquisition of four Bill’s Car Washes in Casselberry, East Orlando, Sanford and Chickasaw.
“Since opening Bill’s Car Wash in 1992, Bill Walker has built a great platform, well known for delivering a quality car wash with a friendly customer experience,” said Casey Lindsay, Director of Acquisitions for Mister Car Wash. “Working with the team at Bill’s has been great and we’re thrilled to welcome such a strong employee base to our growing team.”
The Bill’s stores follow Mister Car Wash’s acquisition of three Top Dog Express car washes located in Lake Mary, Melbourne and Sanford in 2015. With the four newest acquisitions, Mister Car Wash now operates 164 car washes in 19 states. In addition to serving Central Florida customers, Mister Car Wash offers seven locations in the greater Tampa area.
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 164 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
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