Boxwood Partners Advises ShelfGenie® on Its Acquisition by Neighborly®
Boxwood’s fifth transaction and third home services franchisor of 2020 cements its status as a premier mergers and acquisitions (M&A) advisor for leading franchise brands
Richmond, VA – (October 7, 2020) – Boxwood Partners is pleased to announce the sale of ShelfGenie® to Neighborly®, the world’s largest franchisor of home services brands. The sale is the latest in a string of high-profile transactions in which Boxwood Partners advised.
Founded in 2000, ShelfGenie is the first and only nationwide franchise dedicated to custom glide-out shelving and home improvement solutions. ShelfGenie’s unwavering dedication to helping customers improve the efficiency and accessibility of their homes has led to an explosion in growth. The company now has more than 50 franchises across 275 territories throughout the United States and Canada.
“Our commitment to our customers is more than our calling, it’s our Noble Purpose,” says ShelfGenie President Andy Pittman. “Our franchise owners are dedicated to simplifying and improving the lives of homeowners. It’s this devotion that has helped ShelfGenie flourish in 2020. Despite the challenges and uncertainty of the pandemic, ShelfGenie is on track for a record year. By combining our established system with the resources of Neighborly, we are creating a platform for the future success for both companies.”
Boxwood Partners, a leading middle-market investment bank based in Richmond, Virginia, was the sell-side advisor to ShelfGenie during the transaction. Pittman expressed his gratitude toward Boxwood Partners for its guidance throughout the process.
“I want to thank the entire team at Boxwood Partners for their help and support with the deal,” says Pittman. “Boxwood’s knowledge and experience working with home services brands helped us find the perfect home in Neighborly. Thanks to Boxwood’s sound advice, the process was as smooth as possible.”
Boxwood Partners Managing Partner J. Patrick Galleher, Managing Director Brian Alas, and Associate Madison Day led the process. Galleher says the complementary nature of the two companies makes the acquisition an optimal match.
“The synergy between ShelfGenie and Neighborly makes this deal a win for everyone involved,” says Galleher. “Barry, Andy and the team at ShelfGenie have built something special, which is why it was important to find the right home. Neighborly is the perfect place, thanks to its expertise in the home services industry and extensive franchise footprint.”
ShelfGenie began franchising in 2008 and quickly established itself as a leading home improvement solutions provider across the country. The acquisition provides ShelfGenie with new tools for growth and enhanced exposure to Neighborly’s more than 10 million customers who rely on its brands for home services ranging from plumbing to cleaning and nearly everything in between.
Board Chairman and Co-Founder Barry J. Falcon says the acquisition is a logical extension of ShelfGenie’s mission of continued profitability for its franchise partners.
“Ensuring continued growth and profits for our franchisees has always been at the forefront of ShelfGenie’s franchising efforts,” says Barry J. Falcon, Board Chairman and Co-Founder of ShelfGenie. “Neighborly’s family of brands is the perfect home for ShelfGenie. With their robust tools and extensive customer base, ShelfGenie is well-positioned for continued success both now and far into the future.”
President and CEO of Neighborly, Mike Bidwell, says ShelfGenie fills a unique niche in the home improvement industry that makes it a natural fit with the company.
“ShelfGenie is an ideal addition to Neighborly’s portfolio of home services franchises,” says Bidwell. “As the leading custom shelving franchise, ShelfGenie has carved out a space for itself that aligns perfectly with Neighborly’s goal to ‘Own the Home’ through our suite of home services.”
About Boxwood Partners
Boxwood Partners, LLC, 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.
For more information about Boxwood Partners, please visit www.boxwoodpartners.com.
About ShelfGenie®
ShelfGenie® is the nation’s leading custom shelving and home improvement solutions franchise. Founded in Richmond, Virginia, in 2000, ShelfGenie has grown to 275 territories in the U.S. and Canada. ShelfGenie is the first and only franchise offering high-impact shelving and home improvement solutions with a purpose: to transform clients’ lives by designing and implementing custom home solutions that put everything within reach. ShelfGenie is a home-based business model providing a niche product within a mature industry. With highly effective tools and resources in place, its franchise model allows owners to focus on marketing and sales while leveraging designers, installers, and a centralized Business Support Center to handle most day-to-day activities of the business.
For more information about ShelfGenie, please visit https://www.shelfgenie.com.
About Neighborly
Neighborly® is the world’s largest home services franchisor of 27 service brands and more than 4,300 franchises serving 10 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 18 service categories at Neighborly.com in the United States and Neighbourly.ca in Canada.
For more information about Neighborly/Neighbourly, and its franchise concepts, please visit www.NeighborlyBrands.com and www.nbly.co.uk.
