Leonard Green to Take Mister Car Wash Private at $7 Per Share
Leonard Green & Partners will take Mister Car Wash private by purchasing the remaining 33% of shares at $7 per share, a 29% premium to the 90-day VWAP. The company’s revenue topped $1 billion in 2025, although its stock has fallen nearly 70% since its July 2021 peak.
1. Take-Private Deal Structure
Leonard Green & Partners will acquire the 33% of Mister Car Wash shares it does not already own at $7 per share, reflecting a 29% premium over the 90-day volume-weighted average price. This transaction ends the company’s public listing and returns it wholly to private ownership under Leonard Green.
2. Market Performance Since IPO
Mister Car Wash debuted on the NYSE in June 2021 and saw its stock rise 49% on day one, valuing it above $6 billion. However, the share price has since dropped nearly 70% from its July 2021 high and its market capitalization fell 22.6% year-over-year as of mid-February 2026.
3. Future Growth Plans
CEO John Lai said taking the company private will allow bolder investments in stores, personnel and technology to support a goal of tripling enterprise size. The business expanded from 65 locations in 2010 to 344 by March 2021 and generated over $1 billion in revenue in full-year 2025.