Mister Car Wash to go private in $7‑per‑share deal
Published on: Feb 20, 2026
Leonard Green & Partners to acquire remaining shares in a transaction valuing the company at $3.1 billion.
Mister Car Wash has agreed to be taken private by investment funds managed by Leonard Green & Partners (LGP) in an all‑cash transaction that values the company at approximately $3.1 billion. Under the merger agreement, LGP will acquire all outstanding shares it does not already own for $7.00 per share, representing a 29% premium over the 90‑day volume‑weighted average price through February 17, 2026.
LGP has been a long‑term strategic partner to Mister Car Wash since 2014 and currently owns around 67% of the company’s outstanding shares. The decision to approve the transaction followed a unanimous recommendation from a Special Committee of independent directors, supported by external financial and legal advisors. The full Board subsequently approved the agreement, with LGP‑affiliated directors abstaining.
CEO John Lai said: “Taking our company private will help us accelerate our growth by investing more boldly in our stores, our people, and our technologies to capture the multiple opportunities ahead. Most importantly, it brings us closer to fulfilling our vision of tripling our footprint while staying true to the values and mission that got us here.”
Upon completion, Mister Car Wash will be delisted from Nasdaq and operate as a privately held company owned by LGP-managed funds. The transaction is expected to close in the first half of 2026, pending regulatory approvals and customary conditions.
