Mister Car Wash Acquires Downtowner Car Wash in Cape Coral, Florida

Rhea-AI Summary

Mister Car Wash (NYSE: MCW) has successfully acquired Downtowner Car Wash, adding five locations in Cape Coral, Florida. This acquisition boosts Mister Car Wash's presence in Florida, strategically aligning with their plans for regional expansion. The Montpetit family, former owners, expressed confidence in Mister's ability to provide quality service to their customer base. The stores will operate normally in the short term while transitioning to the Mister brand over the coming months.

Positive

• Acquisition of 5 stores enhances market presence in South Florida.
• Strategic expansion plans indicate potential revenue growth.

Negative

• None.

Expanding its presence into South Florida with the addition of 5 stores

TUCSON, Ariz.--(BUSINESS WIRE)-- Mister Car Wash, Inc. (the "Company" or "Mister"; NYSE: MCW) today announced the successful acquisition of Downtowner Car Wash, five locations in Cape Coral, Florida.

“The Montpetit family and their team have built a nice platform of locations in Cape Coral complementing our overall presence throughout Florida,” said Casey Lindsay, Vice President Corporate Development of Mister Car Wash. “We are looking forward to bringing Mister’s welcoming car wash experience to the customers of Cape Coral and plan to continue expanding in the region through a combination of acquisitions and new store development.”

“We are proud to have been a part of the Cape Coral community for the past 15 years and want to thank all of our customers for our success. Mister Car Wash has a reputation in the industry as best in class operators and a company that truly cares for their people and customers,” said Jay Montpetit, Co-Owner and Founder of Downtowner Car Wash. “We are excited for this new chapter for our team members and know that our customers and the community are in good hands with the Mister team,” added Troy Montpetit, Co-Owner and Founder of Downtowner Car Wash.

Customers of Downtowner Car Wash can expect the business to continue operating as normal in the near term. Throughout the coming months, Mister will be working with the team to rebrand the stores and optimize service and product offerings as they fully integrate the stores into the brand.

For information about services and career opportunities with Mister Car Wash, please visit www.mistercarwash.com.

About Mister Car Wash® | Inspiring People to Shine®

Headquartered in Tucson, Arizona, Mister Car Wash, Inc. (NYSE: MCW) operates over 360 car washes nationwide and has the largest car wash subscription program in North America. With over 25 years of car wash experience, the Mister team is focused on operational excellence and delivering a memorable customer experience through elevated hospitality. The Mister brand is anchored in quality, friendliness and a commitment to the communities we serve as good stewards of the environment and the resources we use. We believe that when you take care of your people, they will take care of your customers. To learn more visit: https://mistercarwash.com.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include but are not limited to Mister Car Wash's expansion efforts and branding initiatives. Without limiting the foregoing, you can generally identify forward-looking statements by the use of forward-looking terminology, such as “will,” "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "seek," or "should," or the negative thereof or other variations thereon or comparable terminology. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.

These forward-looking statements are based on management's current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: developments involving the Company's competitors and its industry; the Company's ability to attract new customers, retain existing customers and maintain or grow its number of subscription members; potential future impacts of the COVID-19 pandemic; the Company's ability to open and operate new locations in a timely and cost-effective manner; the Company's ability to identify suitable acquisition targets and consummate such acquisitions on attractive terms; the Company's ability to maintain and enhance its brand reputation; the Company's reliance on and relationships with third-party suppliers; risk related to the Company's indebtedness and capital requirements; risk related to governmental laws and regulations applicable to the Company and its business; the Company's ability to maintain security and prevent unauthorized access to electronic and other confidential information; and the other important factors discussed under the caption "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021, as such factors may be updated from time to time in its other filings with the SEC, which are accessible on the SEC's website at www.sec.gov and Investor Relations section of the Company's website at https://ir.mistercarwash.com/.

These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that the Company makes in this press release speaks only as of the date of such statement. Except as required by law, the Company does not undertake any obligation to update or revise or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211207006211/en/

Media Contact

Megan Everett

media@mistercarwash.com

Investor Relations

Farah Soi/Caitlin Churchill

ir@mistercarwash.com

Source: Mister Car Wash, Inc.

FAQ

What is the significance of Mister Car Wash's acquisition of Downtowner Car Wash?

The acquisition strengthens Mister Car Wash's presence in South Florida and supports its regional expansion strategy.

How many locations did Mister Car Wash acquire in Cape Coral?

Mister Car Wash acquired five locations in Cape Coral, Florida.

What can customers expect following the acquisition of Downtowner Car Wash?

Customers can expect normal operations initially, followed by rebranding and optimization of services over the coming months.

What are the future growth plans for Mister Car Wash after the acquisition?

Mister Car Wash plans to continue expanding in the region through additional acquisitions and new store development.