Mister Car Wash (MCW) Company Report

Mister Car Wash (NASDAQ: MCW) has agreed to be acquired by Leonard Green & Partners, L.P. (LGP) for $7.00 per share in cash, potentially taking the company private.
Bleichmar Fonti & Auld LLP (BFA Law) is investigating possible breaches of fiduciary duties by the board and LGP, citing concerns over conflicts of interest and an allegedly unfairly low buyout price for public shareholders.
LGP, owning over 66% of MCW's common stock, has already used its controlling stake to approve the transaction without soliciting further votes from public shareholders.

15 hours ago

Press Release

Mister Car Wash Board and Controlling Stockholder Investigated Over Take-Private Deal

MCW

Legal Proceedings

M&A

Takeover Bid

Mister Car Wash, Inc.'s (MCW) board of directors and its controlling stockholder, Leonard Green & Partners, L.P. (LGP), are under investigation by Bleichmar Fonti & Auld LLP for potential breaches of fiduciary duties.
The investigation follows a proposed take-private sale, announced on February 18, 2026, where public stockholders would be cashed out at $7.00 per share.
LGP, which owns over 66% of MCW's common stock, has already used its shares to approve the sale, leading to allegations of an unfairly low buyout price and conflicts of interest.

1 day ago

Press Release

Mister Car Wash to be taken private by Leonard Green & Partners

MCW

M&A

Delisting/Listing Issues

Earnings

Mister Car Wash, Inc. (MCW) announced it has entered into a definitive merger agreement to be taken private by investment funds managed by Leonard Green & Partners, L.P. (LGP) for $7.00 per share in cash, implying a total enterprise value of $3.1 billion.
The $7.00 per share purchase price represents a 29% premium to the volume-weighted average price of MCW's shares during the 90 days prior to and including February 17, 2026.
The transaction was unanimously approved and recommended by a Special Committee of the Board of Directors and subsequently unanimously approved by the Board (excluding LGP-affiliated directors).
Upon completion, expected in the first half of 2026, Mister Car Wash's common stock will no longer be listed on Nasdaq, and the company will become privately held.
For the fourth quarter of 2025, net income was $20,071 thousand and Adjusted EBITDA was $85,955 thousand. For the full year 2025, net income was $103,077 thousand and Adjusted EBITDA was $345,441 thousand.

Feb 18, 2026, 12:15 PM

8-K

Mister Car Wash Agrees to $3.1 Billion Take-Private Deal

MCW

M&A

Takeover Bid

Delisting/Listing Issues

Leonard Green & Partners (LGP) has agreed to take Mister Car Wash private in a $3.1 billion all-cash buyout at $7.00 per share, which will result in its delisting from Nasdaq.
LGP, already controlling about 67% of the company, will acquire the remaining 33% for approximately $800 million.
The $7.00-per-share offer represents roughly a 29% premium to Mister Car Wash’s prior 90-day average trading price.
The transaction is expected to close in the first half of 2026, subject to antitrust clearances and regulatory approvals.
Mister Car Wash reported solid 2025 results, including approximately $1 billion in revenue and expansion to 548 locations, but management has halted guidance and canceled its earnings call pending completion of the deal.

Feb 18, 2026, 12:13 PM

Barron's

Mister Car Wash Announces Fourth Quarter and Full Year 2025 Results

MCW

Earnings

Guidance Update

M&A

Mister Car Wash reported net revenues of $261.2 million for Q4 2025, a 4% increase, and $1,051.7 million for the full year 2025, up 6%.
For Q4 2025, net income was $20.1 million and adjusted EBITDA increased 10% to $86.0 million. Full-year 2025 net income was $103.1 million and adjusted EBITDA increased 8% to $345.4 million.
The company ended 2025 with nearly 2.3 million Unlimited Wash Club® (UWC) members, a 7% year-over-year increase, and expanded its network to 548 total car wash locations by opening 29 new greenfield locations during the year.
Mister Car Wash will not be providing a 2026 outlook due to a separately announced transaction with Leonard Green & Partners.

Feb 18, 2026, 12:01 PM

Press Release

Mister Car Wash to Be Taken Private by Leonard Green & Partners

MCW

M&A

Delisting/Listing Issues

Takeover Bid

Mister Car Wash (MCW) has entered into a definitive merger agreement to be acquired by investment funds managed by Leonard Green & Partners, L.P. (LGP).
LGP will purchase all outstanding shares not already owned by its affiliates for $7.00 per share in cash, implying a total enterprise value of $3.1 billion.
The $7.00 per share purchase price represents a 29% premium to the volume-weighted average price of MCW's shares during the 90 days prior to and including February 17, 2026.
The transaction was unanimously approved and recommended by a Special Committee of the Mister Car Wash Board of Directors.
The transaction is expected to close in the first half of 2026, after which Mister Car Wash's common stock will no longer be listed on Nasdaq and will become a privately held company.

Feb 18, 2026, 12:00 PM

Press Release

Mister Car Wash Reports Strong Q3 2025 Results and Reiterates Full-Year Guidance

MCW

Earnings

Guidance Update

M&A

Mister Car Wash reported strong Q3 2025 financial results, with revenue up 6% to $263 million, adjusted EBITDA increasing 10% to $87 million, and adjusted EPS of $0.11, a 38% year-over-year increase.
The company achieved 3.1% comparable store sales growth for the quarter, marking its tenth consecutive quarter of comp gains, and grew its UWC membership by 6% year over year to approximately 2.2 million members.
MCW reiterated its full-year 2025 guidance, expecting to finish at the high end or slightly above its comparable store sales guidance of 1.5% to 2.5%, near the high end of its revenue guidance of $1,046 million to $1,054 million, and at the high end of its adjusted EBITDA guidance of $338 million to $342 million.
Strategic initiatives include opening five new Greenfield locations in Q3, with a target of approximately 30 new stores for the year, and the acquisition of five stores in Lubbock, Texas post-quarter. The company also plans to step up marketing investments in Q4 based on encouraging Q2 test results.
MCW maintained a strong financial position with $827 million in outstanding long-term debt and a leverage ratio of 2.4 times adjusted EBITDA at quarter-end, while generating $202 million in free cash flow for the nine months ended September 30.

Oct 29, 2025, 8:30 PM

Transcript

Mister Car Wash Announces Third Quarter 2025 Results

MCW

Earnings

Guidance Update

New Projects/Investments

Mister Car Wash reported a 6% increase in net revenues to $263.4 million and a 3.1% increase in comparable-store sales for the third quarter of 2025.
Adjusted EBITDA for Q3 2025 increased 10% to $86.8 million.
The company ended the quarter with over 2.2 million Unlimited Wash Club® (UWC) members, representing a 6% year-over-year increase.
Mister Car Wash reiterated its full-year 2025 outlook, projecting net revenues between $1,046 to $1,054 million and Adjusted EBITDA between $338 to $342 million.
During Q3 2025, 5 new greenfield locations were opened, bringing the total net number of car wash locations operated to 527 as of September 30, 2025.

Oct 29, 2025, 8:05 PM

8-K

Mister Car Wash Acquires Five Whistle Express Locations

MCW

M&A

New Projects/Investments

Mister Car Wash, Inc. (MCW) announced the acquisition of five Whistle Express locations in Lubbock, Texas, which were operating under the Take 5 Car Wash brand.
This acquisition expands Mister Car Wash's footprint in Lubbock from four to nine locations, establishing a leading market position in the city.
With these additions, Mister Car Wash now operates approximately 525 locations.