Mister Car Wash aims for over $5 bln valuation in U.S. IPO

Reuters2021-06-17

June 17 (Reuters) - Mister Car Wash Inc is looking to raise as much as $638 million through a U.S. initial public offering, targeting a valuation of more than $5 billion, a regulatory filing on Thursday showed.

The Tucson, Arizona-based company is offering 37.5 million shares priced between $15 and $17 per share. It has applied to list its shares on the New York Stock Exchange under the ticker symbol "MCW".

Founded in 1996, Mister Car Wash operates 344 car washes across 21 states and reported net revenue of $595 million for the twelve months ended March 31, the filing showed.

The company, controlled by private equity firm Leonard Green & Partners LP, said its monthly subscription program grew by about 247,000 members in 2020 despite the COVID-19 pandemic.

BofA Securities, Morgan Stanley, Goldman Sachs and Jefferies are the lead underwriters for the offering.

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Comments

Stchua
2021-06-17
Stchua
Comment please
Sky0501
2021-06-17
Sky0501
Like
RavenX
2021-06-17
RavenX
Nice
Hayleywills
2021-06-17
Hayleywills
Amazing, comment and like for good luck
Hayleywills
2021-06-17
Hayleywills
Lol
zyzy
2021-06-17
zyzy
Haha

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