Mister Car Wash has finalized its acquisition by Leonard Green & Partners in an all-cash transaction valuing the business at a $3.1 billion enterprise value. The deal delivered $7.00 per share to remaining stockholders, management rolled over a portion of its equity, and the company’s common stock has been delisted from Nasdaq.

Under private ownership, Mister Car Wash gains flexibility to expand its network of approximately 550 locations and to invest further in its leading subscription program. Management expects the partnership to accelerate technology upgrades and customer experience initiatives aimed at driving long-term growth.