Boxwood Partners Advises Dryer Vent Wizard On Its Sale To Neighborly®, A Portfolio Company Of Harvest Partners
Boxwood continues to establish itself as one of the premier M&A advisors for leading brands within franchising, completing its fourth transaction in the last 16 months.
RICHMOND, VA (February 26, 2020) — Boxwood Partners, LLC is pleased to announce the sale of Dryer Vent Wizard International LLC (the “Company” or “Dryer Vent Wizard”) to Neighborly, a portfolio company of Harvest Partners (“Harvest Partners” or “Harvest”), a New-York-based private equity firm.
Boxwood Partners acted as the exclusive advisor to Dryer Vent Wizard with respect to this transaction. The transaction was led by Managing Partner J. Patrick Galleher, Director Brian Alas, Vice President Robbie Nickle and Analyst Dan Martinson. The terms of the deal were not disclosed.
Founded in 2004, Dryer Vent Wizard has grown to become the national leader specializing in professional dryer duct and vent cleaning, inspection, repair, and maintenance services for both single-family and multi-family residential properties. The Farmington Hills, MI-based company continues to expand its domestic and international footprint, and now has nearly 100 locally owned and operated franchise locations across the United States and Canada.
“Dryer Vent Wizard has done a tremendous job carving out an important niche in the home service industry. The Company’s professional service offerings are specifically tailored to help improve appliance performance and, more importantly, prevent related hazards within the home, including potential house fires,” said Mike Bidwell, President and CEO of Neighborly. “The Company represents a great addition to our trusted network of premium home service brands.”
Dryer Vent Wizard brings Neighborly’s network to more than 3,900 franchisees representing a total of 24 home service brands and 11 corporate support centers throughout North America, U.K. and Germany.
Dave Lavalle, founder of Dryer Vent Wizard, was extremely pleased with the outcome, having commented, “By joining the Neighborly network, Dryer Vent Wizard will continue to expand its national and international footprint and gain access to Neighborly’s impressive network and corporate support system,” he continued. “I would also like to thank the Boxwood team for their pivotal role in identifying the ideal partner for Dryer Vent Wizard. Their expertise within the franchising space combined with their undivided help and attention throughout each step in the process was critical in paving the way for a successful transaction.”
J. Patrick Galleher, Boxwood’s Managing Partner added, “We really enjoyed the opportunity to work with Dave and Terry and the rest of the team at Dryer Vent Wizard. We believe that the Company is a great complement to Neighborly’s network of premium home service offerings.”
Brian Farmer, Brandon Spalding and Andrea Mousouris of Hirschler Fleischer served as legal counsel for Dryer Vent Wizard while Briar Siljander of Trio Law PLC acted as franchise counsel.
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 Dryer Vent Wizard
Headquartered in Farmington Hills, MI, Dryer Vent Wizard provides professional dryer duct and vent cleaning, inspection, repair, and maintenance services. The Company operates throughout both the United States and Canada with nearly 100 locally owned and operated franchise locations.
About Neighborly®
Neighborly® is the world’s largest home services franchisor of 24 service brands and more than 3,900 franchise owners serving 9 million+ customers in nine countries, focused on repairing, maintaining and enhancing homes and businesses. The company operates online platforms that connect consumers to service providers in their local communities that meet their rigorous standards as a franchisor across 14 service categories at www.getneighborly.com in the United States and www.getneighbourly.ca in Canada. The company was founded in 1981 as Dwyer Group and is based in Waco, Texas. More information about Neighborly/Neighbourly, and its franchise concepts, is available at www.Neighborlybrands.com.
About Harvest Partners
Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm that focuses on investments in middle-market companies in the business services & consumer, healthcare, industrial services and manufacturing and distribution sectors. This strategy leverages Harvest Partners’ 35+ years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit www.harvestpartners.com.
Contact: J. Patrick Galleher
Phone: (804) 343-3441
Email: pgalleher@boxwoodpartners.com
