Get instant alerts when news hits your stock. Claim your 1 week free trial Street Insider Premium here.
Transaction further strengthens Boxwood’s position as a trusted advisor to its franchises
JUPITER, FL / ACCESSWIRE / November 3, 2022 / — Boxwood Partners, a leading boutique middle market investment bank, has announced the sale of Junk King, a portfolio company of Norwest Venture Partners. neighbor® is the world’s largest home services company and a KKR portfolio company.
Boxwood acted as Junk King’s exclusive sell-side advisor on its most recent transaction. The transaction was led by Brian Alas (Managing Director), Dan Martinson (Vice President) and Kurtis Brown (Associate). Terms of the deal were not disclosed.
Junk King, along with Dryer Vent Wizard® and ShelfGenie®, will be the third Boxwood client to join the Neighborly brand family in the last few years. Neighborly is the world’s largest home servicing company with over 30 brands and over 5,000 franchises, and in 6 countries he serves over 12 million customers.
Founded in 2005, Junk King is the nation’s leading junk removal and haulage company with over 150 units and 70 franchisees. The customer-focused brand prides itself on its unmatched service and commitment to sustainability, with a goal of keeping 60% of all materials it collects out of landfills by reusing and recycling materials. I’m doing it. Junk King’s oversized trucks are 20% larger than our competitors, reducing our carbon footprint while saving our customers money.
Junk King co-founder Mike Andreachhi said: “Additionally, they helped us find the perfect home on Neighborly. Combining our established system with Neighborly’s resources, we couldn’t be more excited about the future for our franchisees and end consumers.” Norwest General Partner Sonya Brown added, “We are excited about the next chapter in Junk King’s growth story and appreciate the guidance of the Boxwood team.”
Alas, he said, this was a strategic deal for both sides, offering Junk King the opportunity to leverage additional resources while also introducing an entirely new vertical to the brand’s Neighborly market.
“Mike and team have built a great brand through Junk King’s customer-centric mindset. During our partnership with Norwest, we built the infrastructure to drive significant organic growth for both residential and commercial customers. We made it possible,” said Alas. “As Junk King integrates into the Neighborly market, their new partnership with Neighborly will only further accelerate that growth.”
Neighborly President and CEO Mike Bidwell said: Today he said the potential for a $10 billion junk removal market is exciting. He would like to thank Boxwood for introducing him and helping him create a seamless transaction. ”
Will Davisson, Rachel Totten and David Orner of Goodwin Law, Andrew Beilfuss of Quarles & Brady, Nicholas D’Amico and Stephen Tight served as legal counsel on the transaction.
About Boxwood Partners
Boxwood Partners, LLC is a boutique investment bank based in Jupiter, Florida with offices in Richmond, Virginia. Boxwood Partners uniquely combines senior-level transaction advisory, business operations experience, and proven process execution skills to give clients a distinct market advantage. Due to our extensive relationships within the global capital and buyer community (including U.S. and international private equity groups, corporations and lenders) and other significant deal-related service providers such as consultants, attorneys and accountants , our clients are sure to get noticed. , service, and the results they deserve. For more information about Boxwood Partners, please visit www.boxwoodpartners.com.
With over 30 brands and over 5,000 franchises, Neighborly is the world’s largest home services company, serving over 12 million customers in six countries, helping them repair, maintain and enhance their homes and businesses. Emphasis on Through Neighborly.com or the Neighborly app, the company operates an online he platform that connects consumers to service providers in their local communities who meet strict standards as franchisors across 18 service categories. For more information on Neighborly® and its franchise concept, visit Neighborlybrands.com. Click here for franchise opportunities with Neighborly®.
About Junk King®
Founded in 2005, Junk King is the second largest junk removal company in North America with over 150 units and 70 franchisees. Junk King plans to add an additional 125 franchises and 400 units in key North American markets over the next five years. Junk King saves consumers time and money by eliminating unnecessary clutter quickly and efficiently. Junk King is best known for its professionalism, advanced technology programs and commitment to recycling, repurposing and reusing materials. The brand is currently the highest rated service business in North America with a Net Promoter Score of over 90. For more information about Junk King, please visit http://www.junk-king.com/. To inquire about franchise opportunities, please visit http://www.junk-king.com/franchising/.
Media contact: Angelic Venegas, Spokesperson for Fishman, [email protected] or 847-977-5601
sauce: Boxwood Partners, LLC
View source version on accesswire.com: