Boxwood Partners Advises ShelfGenie on Recapitalization by Peninsula Capital Partners
Boxwood furthers its proven track record within Franchising with its 3rd transaction in last 9 months
RICHMOND, VA (July 31, 2019) — Boxwood Partners, LLC is pleased to announce that it has advised ShelfGenie (the “Company”), a leading franchisor of custom storage solutions, on its recapitalization by Peninsula Capital Partners (or “Peninsula”). The Atlanta, GA-based franchisor operates ~135 franchised territories across the United States and Canada.
Boxwood Partners acted as the exclusive advisor to ShelfGenie with respect to the transaction. “This represents Boxwood’s 3rd Franchisor transaction in the last 9 months after advising AdvantaClean (January 2019) and sweetFrog Frozen Yogurt (September 2018). Moreover, this marks the 2nd home services transaction of 2019, extending our leadership within both the franchising and home services sectors,” added J. Patrick Galleher, Boxwood’s Managing Partner. “We are delighted to have helped the shareholders realize a great outcome and look forward to continuing to work with ShelfGenie in this next phase of growth.”
Headquartered in Atlanta, ShelfGenie is the leading franchisor and manufacturer of custom, glide-out storage and shelving solutions within a kitchen, pantry or bathroom. Its product offerings aim to transform existing spaces by designing and implementing custom solutions that maximize storage, organization and accessibility. From first-time homebuyers to downsizing Baby Boomers, ShelfGenie’s offerings appeal to a wide demographic and provide a low-cost alternative to an expensive home renovation.
As a result of the transaction, Peninsula provided liquidity to shareholders and additional capital for growth. The investment will allow the Company to continue to invest in the organization as it looks to further its national reach and improve upon its comprehensive suite of product offerings. The Company hopes to further expand its reach by decreasing its territory size, allowing new and existing franchisees to take advantage of the favorable demographics in underdeveloped markets.
“We are very excited to partner with Peninsula for the next stage of growth for ShelfGenie. We look forward to continuing to invest in our core capabilities to drive further value for both the ShelfGenie brand and our franchisees,” said Barry Falcon, Co-Founder and Chairman of the Board for ShelfGenie.
Mr. Falcon also commented, “I would like to thank the Boxwood team for their tireless efforts throughout the transaction. Their expertise within franchising played an integral part of our new partnership with Peninsula. More importantly, Boxwood’s experience with franchisors was critical to a successful transaction as they truly understand the unique aspects of franchisors and M&A. The shareholders and the Company look forward to working with them post-closing as they help us think strategically about ShelfGenie its next stage of growth.”
Chris Gessner, Director at Peninsula, added, “Peninsula seeks investments in best-in-class businesses led by outstanding management teams, making ShelfGenie the ideal opportunity for us. Many thanks to Boxwood for helping guide the transaction to a successful conclusion.” Gessner was supported on the transaction by Andrew Michalak, Senior Associate at Peninsula.
The transaction was led by J. Patrick Galleher (Managing Partner), Brian Alas (Director), Madison Day (Senior Analyst) and Stefano Caprirolo (Analyst). The terms of the deal were not disclosed.
About Boxwood Partners
Boxwood Partners, LLC (www.boxwoodpartners.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 ShelfGenie
Headquartered in Atlanta, GA, ShelfGenie is a leading franchisor and manufacturer of custom, glide-out shelving solutions for kitchens, pantries, and bathrooms. The company was founded in Richmond, VA in 2000 and now has 35+ franchise partners covers ~135 territories across the United States and Canada, allowing the Company to serve an international customer base.
About Peninsula Capital Partners
Founded in 1995, Peninsula Capital Partners is an investment company specializing in providing junior capital, including subordinated debt, preferred stock or common stock, either as a minority or control investor, to superior middle-market companies. Having raised six investment partnerships totaling approximately $1.6 billion of committed capital, Peninsula has completed over 120 investments in a wide range of industries, including among others aerospace, manufacturing, information technology, industrial and professional service, consumer products, retail, food and distribution industries.
Contact: J. Patrick Galleher
Phone: (804) 343-3441
Email: pgalleher@boxwoodpartners.com
