BlackArch Partners Advises on Sale of Mister Car Wash to Leonard Green & Partners
CHARLOTTE, N.C. – BlackArch Partners is pleased to announce the sale of Mister Car Wash, the largest operator of full-service and express car washes in the country and a portfolio company of ONCAP, to Leonard Green & Partners, LP.
BlackArch was retained by Mister Car Wash to serve as a financial advisor on the transaction.
The transaction adds to the expanding list of successful sell-side engagements led by the firm’s Automotive Aftermarket practice, which recently announced the sale of Hercules Tire to American Tire Distributors, Integrated Supply Network to Audax, Hopkins to ONCAP, among numerous other transactions led by the group at predecessor firms.
About Mister Car Wash
Founded in 1996, Mister Car Wash operates 134 car washes and 32 lube centers in 14 states across the country, making it the largest car wash and lube center chain in the United States. The company, headquartered in Tucson, AZ with 4,800 employees, services more than 15 million vehicles annually. Mister Car Wash has established itself as the leading acquirer in the industry, having completed over 25 acquisitions representing over 70 stores since 2009.
About ONCAP
ONCAP is the middle market private equity platform of Onex and invests in and builds shareholder value in North American small and mid-size companies that are leaders in their defined market niche and possess meaningful growth potential. With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms in North America. The company has approximately $22 billion of assets under management, including $6 billion of Onex capital in private equity and credit securities. For 30 years, Onex has built more than 75 businesses, generating a gross multiple of capital invested of 3.0 times from its core private equity activities, resulting in a 28 percent compound annual return on realized, substantially realized and publicly traded investments. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX.
About BlackArch Partners
BlackArch Partners is a leading middle-market investment bank offering a full spectrum of advisory services to financial sponsors, private companies and diversified corporations BlackArch addresses the needs of entrepreneurs, founders and shareholders of private companies with specialized services that include M&A advisory, strategic advisory and private capital solutions. Headquartered in Charlotte, NC, with offices in Houston, TX, BlackArch features a total of 12 industry-focused practices that cover all sectors of interest to middle-market investors; BlackArch professionals have closed over 300 transactions in 16 countries on four continents. Please visit our website, www.blackarchpartners.com, for more details.
Securities offered through BlackArch Securities LLC. Member FINRA and SIPC.