Introduction
Mister Car Wash is a well-known car wash and detailing company that operates across the United States. In this article, we will explore the ownership of Mister Car Wash and delve into the details of its ownership structure.
The History of Mister Car Wash
Mister Car Wash was originally founded in 1969 by Joe Matheny in Houston, Texas. Over the years, the company expanded its operations and established a strong presence in the car wash industry. Today, Mister Car Wash is one of the largest car wash chains in the United States, with over 300 locations spread across 21 states.
Ownership Structure
Mister Car Wash is a privately-owned company. In 2007, it was acquired by Leonard Green & Partners, a private equity firm based in Los Angeles. Leonard Green & Partners specializes in investing in retail and consumer companies and has a track record of successful acquisitions in various industries.
Under the ownership of Leonard Green & Partners, Mister Car Wash continued to grow and expand its operations. The company has made several strategic acquisitions, allowing it to enter new markets and increase its customer base. Some notable acquisitions include the purchase of Autobell Car Wash in 2020, which added 84 locations to Mister Car Wash’s portfolio.
Current Ownership
In 2014, Leonard Green & Partners sold Mister Car Wash to another private equity firm, ONCAP. ONCAP is the middle-market private equity platform of Onex Corporation, a Canadian investment firm. The acquisition of Mister Car Wash by ONCAP allowed the company to further strengthen its position in the car wash industry.
While the specific details of the ownership structure under ONCAP are not publicly disclosed, it is known that ONCAP operates as a long-term investor, partnering with management teams to support the growth and development of the companies it invests in. Mister Car Wash continues to operate as a standalone business under the ownership of ONCAP.
Conclusion
In conclusion, Mister Car Wash is currently owned by ONCAP, a private equity firm. The company has a rich history and has experienced significant growth under the ownership of various private equity firms. With its extensive network of car wash locations, Mister Car Wash remains a prominent player in the car wash industry.
References
– Leonard Green & Partners: https://www.leonardgreen.com/
– ONCAP: https://www.oncap.com/
– Mister Car Wash: https://www.mistercarwash.com/
