Leonard Green continues to build its car wash platform with the recent buy of four Florida-based Bill’s Car Washes. The acquired stores are all located in the Orlando metropolitan area in the cities of Casselberry, East Orlando, Sanford and Chickasaw.
Leonard Green acquired Mister Car Wash in August 2014 from Onex Corporation. At the time of the acquisition, Mister Car Wash operated 134 car washes and 32 lube centers in 14 states across the country, making it the largest car wash and lube center chain in the United States. Today, including the Bill’s acquisitions, Mister Car Wash now operates 164 car washes and 34 express lubes in 19 states.
According to Leonard Green, Mister Car Wash is the most acquisitive company in the car wash industry having completed over 25 acquisitions – representing over 70 stores – since 2009. The company has about 4,800 employees and services more than 15 million vehicles annually. Mister Car Wash was founded in 1996 and is headquartered in Tucson (www.mistercarwash.com).
Casey Lindsay is the Director of Acquisitions for Mister Car Wash. “Since opening Bill’s Car Wash in 1992, Bill Walker has built a great platform, well known for delivering a quality car wash with a friendly customer experience,” said Mr. Lindsay.
The Bill’s stores (www.billscarwash.com) acquisitions follow Mister Car Wash’s acquisition in October 2015 of three Top Dog Express car washes located in the Florida cities of Lake Mary, Melbourne and Sanford.
Leonard Green & Partners invests in middle-market companies in the retail, distribution, healthcare, aerospace/defense, and consumer/business services sectors. The firm was founded in 1989 and manages approximately $15 billion of equity capital. Leonard Green & Partners is headquartered in Los Angeles (www.leonardgreen.com).
© 2016 Private Equity Professional • 2-11-16
