Mister Car Wash to acquire Clean Streak for about $390 million in cash

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• Clean Streak is a portfolio company of MKH Capital Partners. The acquisition includes 23 operating locations, 10 development locations and the underlying real estate at all 33 locations.
• The addition will bring the Company’s total operating stores in Florida to 65, with new market entry into 5 MSAs, including Cape Coral/ Ft. Myers and Miami.
• The expansion is also expected to enable the Company to leverage efficiencies across its existing regional infrastructure.
• The Company expects the acquisition will be accretive to its earnings per share in 2022.
• The company will fund the transaction through cash on hand and incremental debt. The deal is expected to close before the end of 2021, subject to customary closing conditions.
• (MCW -3.1%)
• Previously (Dec. 8): Mister Car Wash scoops up Downtowner Car Wash; terms undisclosed.