Mister Car Wash Expands into New Market

Mister Car Wash has acquired the Waterworks carwash chain in Rochester, Minn. The deal includes two carwashes, three lube shops and a detail center. The latest acquisition gives the Tucson, Ariz.-based company 42 carwashes, 14 lube shops and three convenience stores in five states. Financial terms of the deal were not disclosed.

“Expanding into Rochester makes a lot of sense to us,” said Ron Peterson, CEO of Mister Car Wash. “We really like the dynamics of the area; it’s the third largest city in Minnesota, and the world renowned Mayo Clinic and IBM are within miles from the stores. It’s going to be fun bringing a new carwash experience to the Rochester market.”

The Waterworks purchase is part of an ongoing expansion of the Mister Car Wash operation.

“We see this as our next phase of accelerated growth,” said Larry Minich, Mister Car Wash CFO. “Our new equity partner Oncap [a private equity firm] has tremendous resources which allow us to pursue new acquisition opportunities aggressively.”

Mister Car Wash announced it would leverage some of the existing Waterworks systems, while bringing in the company’s proprietary “Road Map.”

“At the core, this is a people business, and we’ve been very impressed with the quality of their management team and production staff,” noted Pat Secord, Mister’s vice president of western operations. “We plan on introducing some new products and services that we know customers will enjoy, but we plan on doing it over a period of time.”

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