Boxwood Partners Closes 12 Deals Totaling $3.6 Billion Transaction Value in 2022

Leading Mid-Market Investment Bank Expands its Growing Team; Expects Momentum to Continue Across All Core Sectors in 2023

JUPITER, FL / ACCESSWIRE / January 5, 2023 / Boxwood Partners, a trusted boutique investment bank, continued its growth trajectory in 2022 as the premier advisor for middle market clients in franchising, food and beverage, home and commercial services, health and wellness and business services. Boxwood, known for its deep experience with entrepreneur and family-owned businesses, also completed multiple buyside and sell side transactions for private equity clients.

Boxwood solidified its role as the leading advisor in franchising, having been invited to speak at several industry events including the Franchise Times Dealmakers Week conference and the 10^th Annual Springboard Franchise Event for Emerging and Re-Emerging Franchisors while closing 9 franchising transactions in 2022.

"We had an extremely productive year serving our middle market clients and expect to see increased growth of our team as M&A activity continues with similar momentum in 2023," said J. Patrick Galleher, Managing Partner at Boxwood Partners. "We are thankful for the continued confidence clients have in our team to provide them with valuable insights, the right guidance and quality service."

Boxwood advised on the following successful transactions in 2022:

Franchise Transactions (9)

Home & Commercial Services (6)

• The Junkluggers to Authority Brands: The Junkluggers is the nation's leading eco-friendly junk removal franchise. Authority Brands is the preeminent platform of home service brands with a combined 1,900+ locations.
• Junk King® to Neighborly®: Junk King, a portfolio company of Norwest Venture Partners, is the nation's top-rated junk removal and hauling company. Neighborly, a portfolio company of KKR, is the world's largest home services company with more than 30 brands and 5,000 franchises collectively serving 12 million+ customers in six countries.
• Authority Brands to British Columbia Investment Management Corporation and funds advised by Apax: Authority Brands is the premier home service franchisor in North America. Boxwood advised on its recapitalization by British Columbia Investment Management Corporation ("BCI") and funds advised by Apax Partners LLP ("Apax Funds").
• Altamont Capital Partners on Acquisition of Service Minds: Altamont Capital Partners is private investment firm with more than $4.5 billion of assets under management. Service Minds is a leading provider of electrical, plumbing and HVAC services in the southeast.
• Colorworld Housepainting to Authority Brands: Color World is one of the nation's leading providers of interior and exterior painting, power washing, carpentry and drywall repair, staining, gutter installation, and holiday lighting services. Authority Brands is the premier home service franchisor in North America.
• Granite Garage Floors to Threshold Brands: Granite Garage Floors is a franchisor that provides customized garage floor coatings for residential and commercial customers. Threshold Brands, a portfolio company of The Riverside Company, is an environmentally conscious family of home service brands.

Health & Wellness (2)

• Tucker's Farm on Investment in VIO Med Spa: Tucker's Farm Corporation is a holding company that makes value-oriented, long-term investments. VIO Med Spa is an all-inclusive med spa providing the latest cutting-edge technologies and therapies offered in the wellness and aesthetics industry.
• Hand & Stone Massage and Facial Spa to Harvest Partners: Hand & Stone Massage and Facial Spa, a portfolio company of Levine Leichtman Capital Partners, is a 500-plus unit massage and facial spa franchise with a mission to bring massage and facial services to the masses. Harvest Partners, LP is an established New York-based private equity investment firm that focuses on investments in middle-market companies in the business & industrial services, consumer, healthcare, industrials and software industries.

Franchise Services (1)

• Franchise FastLane to Southfield Capital: Franchise FastLane is an outsourced franchise sales organization that selectively partners with emerging franchise brands to bring them qualified franchisee leads, refine their sales process and drive accelerated development growth. Southfield Capital is a private equity firm that invests in high-growth, lower middle market companies in the outsourced business services sector.

Food & Beverage Transactions (2)

• Spice Chain to iSpice Foods: Spice Chain, a portfolio company of Frontenac Company, is an importer, processor, and supplier of premium global spices and seasonings for the industrial, food service and retail end markets, and iSpice Foods is a privately held importer, processor and supplier of spices based in Jackson, AL.
• Adams Flavors, Food & Ingredients to Deason Capital Services, Midwest Growth Partners, Brookside Capital Partners & Valesco Industries: Adams is one of the most tenured extract and spice manufacturers in the United States that features a 100+ year old brand while also serving a private label and co-manufacturing customer base.

Business & Industrial Services (1)

• American Road Markings to InfraStripe: American Road Markings is a leading regional provider of roadway marking services, including thermoplastic, paint, and temporary pavement markings, roadway marker and delineator installation, asphalt sealcoating and crack repair, custom signage, and wheel stop installations. InfraStripe, a portfolio company of Soundcore Capital Partners, is a national network of locally-known and trusted striping, roadwork and infrastructure companies.

Team Expansion

Boxwood Partners started the year by promoting four members of its team, including Robbie Nickle from Vice President to Director, Madison Day and Dan Martinson from Associates to Vice President and Analyst John Atkinson to Associate. To keep up with continued deal activity, Boxwood also hired Analysts Drew Frank, Justin Jasper and Gio Lagnerini, welcoming Drew and Justin on full-time after their summer interning at Boxwood Partners' Richmond, VA office.

In Q4 of 2022, Boxwood added 3 key new team members: Ronald Ramos as Chief Financial Officer, Clayton Patton as Vice President and Mason Barrett as an Analyst. In addition, Managing Director Thomas W. Hurley, who has held executive operating roles and principal investments in multiple food and beverage sectors, joined the Jupiter, FL office.

About Boxwood Partners

Boxwood Partners, LLC is a boutique investment bank based in Jupiter, Florida with offices in Richmond, Virginia. Boxwood Partners combines a unique blend of senior-level transaction advisory, business operating experience, and proven process execution skills to give its clients a distinct advantage in the market. The firm's extensive relationships within the global capital and buyer communities (including U.S. and international private equity groups, corporations, and lenders) and other important transaction-related service providers such as consultants, attorneys, and accountants, ensure that the firm's clients receive the attention, service, and results they deserve. For more information about Boxwood Partners, please visit www.boxwoodpartners.com.

SOURCE: Boxwood Partners, LLC