New York, May 22, 2026, 10:07 EDT
Mister Car Wash Inc. is now private after Leonard Green & Partners finished its $3.1 billion deal, taking the company off public markets. Shareholders set to get $7.00 per share in cash. Mister Car Wash said its common stock has stopped trading and is getting delisted from Nasdaq. CEO John Lai said the move gives the company “greater flexibility.” Mister Car Wash
That’s in focus because U.S. equity markets are trading normally Friday ahead of the Memorial Day break Monday, but MCW isn’t among active names. The stock isn’t trading live; now it’s all about the corporate action.
Nasdaq Trader named May 18 as the last day to trade Mister Car Wash common shares, putting the merger payout at $7.00 per share. The notice also gave the expected date for market suspension tied to the deal close.
Nasdaq put in a Form 25 to delist Mister Car Wash common stock on May 19, following the usual process.
Index funds shifted positions after S&P Dow Jones Indices said F&G Annuities & Life would take Mister Car Wash’s slot in the S&P SmallCap 600 ahead of the May 19 open. That move pulled MCW out of the index’s lineup for funds tracking the basket.
Leonard Green had said the $7 per share offer in February was a 29% premium to the 90-day VWAP. That price was based on the average price weighted by share volume. Leonard Green already owned about 67% of Mister Car Wash before making the deal to buy the rest.
Mister Car Wash posted first-quarter numbers on April 29 showing some growth. Revenue was up 6% to $277.9 million. Comparable-store sales gained 3.9%, and Unlimited Wash Club had about 2.5 million members. At the end of March, Mister Car Wash ran 549 locations.
Car-wash stocks aren’t the only way to read the sector moves. Reuters in 2024 said private-equity players like KKR took a minority stake in Quick Quack, and flagged the 2021 market debuts of Mister Car Wash and Driven Brands. Driven does more than car washes, but it’s still part of the space.
But closing out trading isn’t the end of uncertainty for everyone. Investors who followed the steps to demand appraisal rights aren’t just swapped into the $7 payout. Those who give up or lose those rights will be moved into the $7 per share, no interest.
For public shareholders, MCW is done trading. Next week will be about settling trades, handling delisting, and dealing with any appraisal mop-up, not earnings updates or intraday swings.
