TUSCON, Ariz. -- Mister Car Wash, the nation's fourth largest conveyor carwash chain, said that it has entered into an agreement to be acquired by private-equity firm ONCAP, reported Carwash Online.
The transaction is expected to close in early April, according to an ONCAP statement obtained by the carwash industry publication.
Toronto-based ONCAP is acquiring the carwash chain of 39 carwashes in partnership with the senior management team, said the statement.
Ron Peterson, CEO of Mister Car Wash said the [image-nocss] new partnership gives the carwash chain the opportunity to pursue new acquisitions and build the business. "We're excited about our new relationship with ONCAP. We have a partner that is committed to helping us accelerate growth," Peterson said in the statement.
In addition to its 39 carwashes, Tucson, Ariz.-based Mister Car Wash also operates 11 lube shops, and two convenience stores in eight regional markets throughout the western United States, including markets in Washington, Idaho, Minnesota, Iowa and Texas.
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