PE-backed Mister Car Wash enters Mississippi with acquisition

Mister Car Wash, a portfolio company of Canadian private equity firm Penfund, has acquired seven Venture Car Washes, which has store locations across Mississippi. No financial terms were released. The deal gave Tucson, Arizona-based Mister Car Wash access to the Mississippi market and increased its operations to 172 car washes and 32 lube centers in 20 states. Penfund invested US$15.1 million of debt and equity in Mister Car Wash in 2014, not long after it was bought by Leonard Green & Partners. The company was previously owned by ONCAP.

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