PE-backed Mister Car Wash buys Florida car wash locations
Mister Car Wash, a portfolio company of Canadian private equity firm Penfund, has bought four Bill’s Car Washes in the Florida communities of Casselberry, East Orlando, Sanford and Chickasaw. The deal's financial terms were not released. As a result, Mister Car Wash now operates 164 car wash locations in 19 states. Penfund invested US$15.1 million of debt and equity in the Tucson, Arizona-based company in 2014, not long after it was acquired by Leonard Green & Partners. Mister Car Wash was previously owned by ONCAP, the mid-market investment platform of Onex Corp.
12 February 2016•2 mins read
