Johnson Fistel Investigates Potential Board Fiduciary Duty Breaches in the Mister Car Wash Take-Private Transaction

Core Viewpoint - Johnson Fistel, PLLP has initiated an investigation into the board members of Mister Car Wash, Inc. regarding potential breaches of fiduciary duties related to the proposed sale of the company to investment funds managed by Leonard Green & Partners, L.P. [1] Group 1: Proposed Transaction - On February 18, 2026, Mister Car Wash announced a definitive merger agreement for the acquisition of all outstanding shares not already owned by Leonard Green's affiliates at a price of $7.00 per share in cash [3] - Leonard Green is the beneficial owner of approximately 67% of Mister Car Wash's outstanding shares, and the necessary stockholder approval for the transaction was obtained through written consent, eliminating the need for a separate vote from minority stockholders [4] Group 2: Investigation Focus - The investigation by Johnson Fistel is centered on whether the board of directors conducted a fair process to maximize shareholder value and whether minority shareholders are receiving fair consideration for their shares [5]