Mister Car Wash, a portfolio company of Leonard Green & Partners, has acquired Venture Car Washes, an operator of seven car washes centered around the city of Jackson, MS.
Venture Car Washes opened its first car wash in Ridgeland, MS in 2003 and over the next ten years added car washes in Brandon, Clinton, Meridian, Flowood and two in Jackson. The company is headquartered in the Jackson suburb of Flowood, MS (www.venturecarwash.com).
The buy of Venture is a continuation of Leonard Green’s build of the Mister Car Wash platform. In February, the company acquired four Florida-based Bill’s Car Washes. The acquired stores are all located in the Orlando metropolitan area.
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 buy of Venture, Mister Car Wash operates 172 car washes and 32 express lubes in 20 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 7,000 employees and services more than 15 million vehicles annually. Mister Car Wash was founded in 1996 and is headquartered in Tucson (www.mistercarwash.com).
“We are proud to bring the Mister Car Wash experience to central Mississippi, marking another key milestone as we continue to expand our operations across the United States,” said Casey Lindsay, Director of Acquisitions for Mister Car Wash.
Mister Car Wash is the largest operator of car washes in the US and is twice the size of its nearest competitor, Autobell Car Wash, which is privately held and based in Charlotte (www.autobell.com). The top 50 car washes in the US can be found HERE.
Leonard Green 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 is headquartered in Los Angeles (www.leonardgreen.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-19-16
