Board and Committee Back the Deal
The transaction received unanimous approval and recommendation from a special committee of Mister Car Wash’s board of directors. The full board also voted unanimously in favor of the deal, acting on the committee’s recommendation.
The special committee was advised by Morris Nichols Arsht & Tunnell LLP, according to the company’s announcement.
On the advisory front, Latham & Watkins LLP is serving as counsel to Mister Car Wash, with a corporate deal team led by partners Paul Kukish, Andrew Elken and Michael Vardanian. Simpson Thacher & Bartlett LLP is acting as legal counsel to Leonard Green.
CEO: Going Private to Accelerate Growth
For CEO John Lai, the deal is more than a financial maneuver — it’s a strategic pivot.
“Taking our company private will help us accelerate our growth by investing more boldly in our stores, our people, and our technologies to capture the multiple opportunities ahead,” Lai said in a statement. “Most importantly, it brings us closer to fulfilling our vision of tripling our footprint while staying true to the values and mission that got us here.”
The transaction, expected to close in the first half of 2026 pending regulatory approvals, will result in Mister Car Wash’s common stock no longer being listed on the Nasdaq. Once finalized, the company will operate as a privately held entity fully owned by Leonard Green investment funds.
For a company that has long scrubbed, rinsed and shined under public scrutiny, the shift to private ownership could mark the start of a new chapter — one designed to polish its growth ambitions away from the relentless tick of the trading clock.
