Harris Williams advises Mister Car Wash on sale to Leonard Green & Partners
Harris Williams & Co has advised Mister Car Wash, a portfolio company of private equity platform ONCAP, on its sale to private equity firm Leonard Green & Partners.
Harris Williams acted as lead financial advisor to Mister Car Wash.
The transaction, which closed on 21 August, was led by Joe Conner, Jason Bass, Jershon Jones and Jeff Kidd of Harris Williams’s transportation and logistics group, and Chris Williams from the firm’s Richmond office.
“Mister Car Wash has established itself as the premier operator in the car wash and lube centre industry. Leonard Green’s longstanding experience with world-class multi-site operators will aid in the company’s continued expansion,” says Conner. “Harris Williams & Co is proud to have partnered with Mister Car Wash as the company enters the next phase of growth and we believe they have found a great partner.”
“The car wash sector is highly fragmented with 95% of operators owning five locations or less. Mister Car Wash’s track record and strategy have driven both scale and best-in-class operations,” says Jones. “Mister Car Wash is poised to build on its outstanding track record and lead the industry for the foreseeable future.”
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