TUCSON, AZ — One of Arizona’s public companies is preparing to go private under a merger deal announced this week.
Tucson-based Mister Car Wash Inc., the nation’s largest brand in its industry with about 550 locations and more than 2.3 million members across North America, announced Wednesday that it entered a definitive merger agreement with Leonard Green & Partners LP. Under the deal Leonard Green will buy all the outstanding common stock of Mister Car Wash for $7 per share in cash, valuing the company at $3.1 billion.
The transaction was unanimously approved by the board of directors of Mister Car Wash (Nasdaq: MCW) after being recommended by a special committee of the board. It is expected to close in the first half of this year after getting regulatory approvals and resolving closing conditions.
