ONCAP completes sale of Mister Car Wash to Leonard Green & Partners
ONCAP, the mid-market private equity investment arm of Onex Corp, has closed its sale of Mister Car Wash to U.S. private equity firm Leonard Green & Partners, as previously reported by peHUB Canada. ONCAP received net proceeds of US$423 million from its investment, which represents a gross multiple of capital invested of about 8.1 times and a gross IRR of 36 percent. Onex received net proceeds of US$153 million from the sale. Mister Car Wash is a Tucson, Arizona-based operator of car washes and lube centers in regional markets across the United States.
22 August 2014•2 mins read
