TORONTO, Ontario — Penfund, an independent provider of junior capital to middle market companies in the U.S. and Canada, has completed a $15.1 million debt and equity investment in Mister Car Wash, according to a press release.
Mister Car Wash was purchased by Leonard Green & Partners in August.
The chain operates 134 carwashes across 14 states, making it the largest carwash chain in the U.S., noted the release.
Read also: Mister Car Wash sale finalized
John Lai, CEO of Mister Car Wash, said in the release, “Mister Car Wash has built one of the most sophisticated operating platforms in the car wash industry and now, with the strength of Leonard Green's backing, we're perfectly positioned to grow at an even faster clip.”
Jeremy Thompson, a partner at Penfund, stated in the release, “We are very happy to have been able to support Leonard Green in their acquisition of Mister Car Wash. We believe the acquisition will enable Mister Car Wash to continue its strong growth and maintain its industry leadership.”
Click here to read the entire release.
