M&A
confidence high
sentiment positive
materiality 0.80
Mister Car Wash acquires Clean Streak Ventures for $390M; adds 33 Florida locations
Mister Car Wash, Inc.
- Purchase price $390M cash for 23 operating + 10 development locations including real estate.
- Funded via cash on hand and $290M incremental term loan (Eurocurrency +3.25% or Base +2.25%).
- Expected to close Q4 2021; HSR waiting period expired; accretive to FY2022 EPS.
- Expands Florida footprint to 65 stores; new MSAs: Cape Coral/Ft. Myers and Miami.
- Will rebrand existing Top Dog Express and Clean Machine locations to Mister Car Wash.