Mister Car Wash sold to California equity firm

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Updated: 8/26/2014 9:01 am

TUCSON, Ariz. (AP) — Tucson-based Mister Car Wash, one of the nation's biggest car-wash chains, has been acquired by a Los Angeles-based private equity firm.

The Arizona Daily Star reports the company says ONCAP, an investment fund of Toronto-based Onex Corp., sold the car-wash chain last week to Leonard Green & Partners LP for an undisclosed price.

Mister Car Wash's president and CEO John Lai says the deal will help Mister Car Wash capitalize on an acquisition strategy while strengthening its leadership position. He will remain the company's top executive.

Mister Car Wash now operates 134 car washes and 32 lube centers in 14 states.

The company announced in May it was buying all six Albuquerque locations of Octopus Car Wash, a chain made popular in the hit TV series "Breaking Bad."

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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