Mister Car Wash, a leading national car wash brand with 344 locations across the US, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $250 million.
Mister Car Wash is the largest national car wash brand in the US, with 344 locations in 21 states. The company offers a monthly subscription program called Unlimited Wash Club which had 1.4 million members as of March 31, 2021.
The Tucson, AZ-based company was founded in 1996 and booked $595 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol MCW. Mister Car Wash filed confidentially on April 2, 2021. BofA Securities, Morgan Stanley, Goldman Sachs, Jefferies, BMO Capital Markets, and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
