//
you're reading...
car wash news

Mister Car Wash Sold To LA Private Equity Firm: Report

Mister Car Wash

Inside the new corporate headquarters of Mister Car Wash. (Photo: insidetucsonbusiness.com)

Mister Car Wash, the largest car wash business in the United States, was sold to a Los Angeles-based private equity firm for an undisclosed price, though a previous sale quote suggests the company was valued around $380 million.

The Arizona Daily Star reported the sale on Tuesday, quoting Mister Car Wash President and CEO John Lai as suggesting the deal was a profitable one, allowing the company to strengthen “its leadership position through additional investments in people, stores and technologies.” Lai will keep his job as head of the company.
According to the Daily Star:

Since ONCAP acquired the company in 2007, Mister Car Wash has grown 232 percent, adding 99 car washes and 25 lube shops, the company said. The company now operates 134 car washes and 32 lube centers in 14 states.

Mister Car Wash recently moved its corporate headquarters from the (Tucson, Arizona) Foothills to a 1950s-era building near downtown, the former First Baptist Church education building at 222 E. Fifth St.

Mister Car Wash was founded in 1969 in Houston and grew into the nation’s largest car wash chain. Recently, Mister Car Wash was awarded an economic stimulus grant to create more jobs and move its Tucson headquarters.

For more details about the massive sale, click here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Wolford Communications

Complete Car Wash Marketing Services

ADVERTISE WITH US: Want to reach hundreds of car wash and detailing businesses? Place your ad here!

Enter your email address to follow The Car Wash Business Blog and receive the latest updates by email.

Latest Car Wash Business Blog Tweets

%d bloggers like this: