Leonard Green & Partners is taking Mister Car Wash private in a deal valued at $7 per share, representing a significant premium for minority shareholders. The private equity firm, which made its initial investment in the car wash chain in 2014, currently owns 67 percent of the company's outstanding common stock.

This take-private transaction marks the end of Mister Car Wash's public market journey after its 2021 IPO. The $7 per share offer reflects Leonard Green's confidence in the business's long-term prospects and the car wash industry's resilience. The deal price represents a substantial premium to recent trading levels, providing liquidity for public shareholders while allowing the PE firm to operate without public market scrutiny.

For Leonard Green, this move continues its strategy of consolidating and optimizing portfolio companies in fragmented industries. The transaction will enable Mister Car Wash to focus on expansion and operational improvements without quarterly earnings pressure. The deal is expected to close subject to customary closing conditions and shareholder approval.