Leonard Green & Partners to Acquire Mister Car Wash for $3.1 Billion

Mister Car Wash, Inc. (MCW) entered a merger agreement on February 18, 2026, to be acquired by Leonard Green & Partners, L.P. (LGP) in a deal valued at $3.1 billion.

Deal Structure:

Investment funds managed by Leonard Green & Partners will purchase all of the outstanding shares of Mister Car Wash for $7 per share in cash, representing a premium of 16.47% from the stock’s last close.

Company Profile:

Mister Car Wash is a U.S.-based operator of conveyorized car wash locations, operating hundreds of sites across more than 20 states and providing express exterior and interior cleaning services through a large national network and subscription program.

Leonard Green & Partners is a Los Angeles-based private equity firm with over $75 billion in assets under management, investing in market-leading companies across consumer, healthcare, business services, distribution, and industrial sectors.

Deal Details and Timeline:

LGP has been a long-term strategic partner of Mister Car Wash since making its initial investment in 2014 and owns roughly 67% of the company’s outstanding common stock.

The deal is expected to close in the first half of 2026.

BofA Securities and Centerview Partners provided financial advice for Mister Car Wash, while legal advice was handled by Morris, Nichols, Arsht & Tunnell and Latham & Watkins. For Leonard Green & Partners, legal counsel was provided by Simpson Thacher & Bartlett.

Leonard Green & Partners is acquiring Mister Car Wash at 13.78 times its EBITDA.

Deal Metrics:

For a deeper understanding and comprehensive details of this merger and acquisition transaction, please refer to the Deal Metrics page here:

Deal Metrics for the acquisition of Mister Car Wash, Inc. (MCW) by Leonard Green & Partners, L.P.

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement to completion or failure.
• A timeline of every event as the merger progresses, including the expiration of the HSR period, regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And much more.

Disclaimer: This article is intended for informational purposes only. Please perform your own due diligence before buying or selling any securities mentioned herein. The completeness or accuracy of the content or data provided in this article is not warranted.

Editor’s Note: Baranjot Kaur contributed to this article