Mister Car Wash Acquires Speedwash in Victor Valley, California

Rhea-AI Summary

Mister Car Wash (NYSE: MCW) has acquired Speedwash, adding four express exterior car wash locations in Victorville and Hesperia, CA. This acquisition strengthens Mister's presence in the Inland Empire, enhancing their operational footprint in California. The company aims to integrate these locations into its brand while maintaining current operations for Speedwash customers. This strategic move aligns with the company's growth objectives and commitment to delivering quality customer experiences.

Positive

• Acquisition expands Mister Car Wash's footprint in California.
• Strategic entry into the Victor Valley market.
• Integration of Speedwash locations expected to enhance customer experience.

Negative

• None.

New acquisition gives company entry to the Inland Empire

TUCSON, Ariz.--(BUSINESS WIRE)-- Mister Car Wash, Inc. (the "Company" or "Mister"; NYSE: MCW) today announced the successful acquisition of Speedwash, which includes four express exterior locations in Victorville and Hesperia, CA.

"The new locations nicely complement our existing footprint across California," said Casey Lindsay, Vice President, Corporate Development of Mister Car Wash. "Adding these high-quality locations makes for a strong entry into Victor Valley. We are looking forward to sharing the Mister Experience with their existing customers and the community."

Customers of Speedwash 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 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, AZ, Mister Car Wash, Inc. (NYSE: MCW) operates more than 400 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. Words including "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 are intended to identify forward-looking statements. 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 Annual Report on Form 10-K for the fiscal year ended December 31, 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/20220429005136/en/

Media

Hailee Tavoian

media@mistercarwash.com

Investor Relations

Farah Soi/John Rouleau

ir@mistercarwash.com

Source: Mister Car Wash, Inc.

FAQ

What locations did Mister Car Wash acquire?

Mister Car Wash acquired four express exterior locations in Victorville and Hesperia, CA.

What is the purpose of the acquisition of Speedwash?

The acquisition aims to enhance Mister Car Wash's presence in the Inland Empire and expand its operational footprint in California.

When was the acquisition of Speedwash announced?

The acquisition was announced in April 2022.

How will the acquisition impact customers of Speedwash?

Customers can expect the business to operate normally in the near term as integration efforts begin.

What benefits does Mister Car Wash expect from the acquisition?

Mister Car Wash expects to enhance customer experience and optimize service offerings through the integration of Speedwash.