Boxwood Partners Advises Leading Food Safety Certification Company On Sale To American Safety Council, Inc., a Portfolio Company of Falfurrias Capital Partners
Boxwood continues to build momentum within the food and beverage industry with its 1st food safety certification transaction
RICHMOND, VA (March 2, 2020) — Boxwood Partners, LLC is pleased to announce the sale of a leading food safety certification company (the “Company”) to American Safety Council, Inc. (“ASC”), a portfolio company of Falfurrias Capital Partners (“FCP”), a Charlotte, NC based private equity firm.
Boxwood Partners acted as the exclusive advisor to the Company with respect to the transaction. The transaction was led by Managing Partner J. Patrick Galleher, Brian Alas (Director), Robbie Nickle (Vice President), and Dan Martinson (Analyst). The terms of the deal were not disclosed.
The Company is an American National Standards Institute (“ANSI”) accredited entity offering online and mobile food handler safety education, training and certificate program courses. The Company was established by a team of food safety industry experts with over 40 years of experience and has grown to provide training services and its proprietary food handler certificate program to customers across the United States.
The Company has experienced strong growth as more states and counties adopt more stringent food safety rules driven as a direct result of the Food Safety Modernization Act (“FSMA”) of 2011 and subsequent regulations. The Company’s proprietary training course and easy-to-navigate materials allow customers to receive their certifications very efficiently. Driven by its digital marketing capabilities, the Company as a go-to provider itself as a leader in the food handler market.
John Comly, Chief Executive Officer of ASC, said, “The Company represented a great addition to our growing suite of online training and education offerings. The Company offers an ANSI accredited certificate program that provides us the opportunity to further diversify into the food safety business. Given the many regulatory tailwinds supporting the industry, we are excited about the acquisition and are confident that we will further establish ourselves as the premier provider in the space.”
“Given the industry tailwinds and the increased adoption of regulations at the state and local level, the Company was uniquely positioned in today’s market. The Company’s offerings are a great addition to ASC’s suite of food safety solutions and should further their traction within the segment. We are delighted to have helped the shareholders realize a great outcome and look forward to watching the Company’s continued success.,” said Brian Alas of Boxwood.
Mike Laussade and Bowman Givhan of Jackson Walker L.L.P served as legal counsel for the Company.
About Boxwood Partners
Boxwood Partners, LLC (www.boxwoodpartnersllc.com), is a boutique investment bank based 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.
About American Safety Council, Inc.
Based in Orlando, FL, American Safety Council provides critical training to more than two million satisfied customers each year. ASC collaborates with federal and state agencies, higher learning institutions, trade associations and iconic industry brands to ensure the content of its online courses is compliant with applicable laws, regulations or industry standards.
About Falfurrias Capital Partners
Falfurrias Capital Partners (“FCP”) is a private equity firm investing in privately held middle market companies. Based in Charlotte, NC, FCP employs a proprietary, theme-based approach to identify markets where its team can most effectively leverage their resources and relationships. FCP invests in companies across a range of sectors, including consumer and retail, food and beverage, business services, financial services, manufacturing, industrials, energy and health care.
Contact: J. Patrick Galleher
Phone: (804) 343-3441