2020 – A Year of Record Growth for Boxwood Partners
Middle-market investment bank completes eight transactions while adding new offices and team members
Jupiter, FL (January 14, 2021) – Boxwood Partners, a leading middle-market investment bank based in Jupiter, FL, celebrated a successful year in 2020 marked by a record number of transactions, growth and development of the firm and a new company headquarters.
Boxwood Partners provided advisory services to eight companies on various transactions in 2020. The firm advised companies in a wide range of industries, including online training and education, label manufacturing, e-commerce, SaaS solutions, environmental services, and four home service franchisors. In each case, the Boxwood team was able to exceed their clients’ expectations.
Below is a complete list of Boxwood’s transactions in 2020:
Boxwood Advises Dryer Vent Wizard on Sale to Neighborly
Dryer Vent Wizard was acquired by Neighborly, a portfolio company of Harvest Partners.
Dryer Vent Wizard is a national leader specializing in professional dryer duct and vent cleaning, inspection, repair, and maintenance services for single and multi-family residential properties.
Transaction was completed in February 2020.
Boxwood Advises Leading Food Safety Company on Sale to American Safety Council
A leading food safety certification company was acquired by American Safety Council (“ASC”), a former portfolio company of Falfurrias Capital Partners. ASC was subsequently sold to Ridgemont Equity Partners.
The company is an American National Standards Institute accredited entity offering online and mobile food handler safety, education, training, and certificate program courses.
Transaction was completed in March 2020.
Boxwood Partners Advises Consolidated Label and Online Labels, Inc. on its Recapitalization by Tenex
Consolidated Label Co. and Online Labels, Inc. were recapitalized by Tenex Capital Management, a New York–based private equity firm.
Consolidated Label provides customers with a full suite of custom printed, pressure sensitive, shrink sleeve, flexible packaging and blank labels on sheets and rolls.
Online Labels provides custom-sized blank labels through its industry-leading e-commerce platform.
Transaction was completed in July 2020.
Boxwood Partners Advises Monster Tree Service on its Sale to Authority Brands
Monster Tree Service was acquired by Authority Brands, a portfolio company of Apax Partners.
Monster Tree Service is the leading tree service provider and the only franchise offering local certified arborist teams in more than 200 territories across the country.
Transaction was completed in September 2020.
Boxwood Partners Advises ShelfGenie on its Acquisition by Neighborly
ShelfGenie was acquired by Neighborly, a portfolio company of Harvest Partners.
ShelfGenie is the nation’s leading custom shelving and home improvement solutions franchise with more than 275 franchises throughout the U.S. and Canada.
Transaction was completed in October 2020.
Boxwood Partners Advises STOP Restoration on its Acquisition by Authority Brands
STOP Restoration was acquired by Authority Brands, a portfolio company of Apax Partners.
STOP (Service Team of Professionals) Restoration is a home service franchise that specializes in water, fire and mold remediation services.
Transaction was completed in November 2020.
Boxwood Partners Advises Proactive Dealer Solutions on its Recapitalization by Capitala
Boxwood acted as the exclusive advisor for Proactive Dealer Solutions (PDS) on its recapitalization by Capitala.
PDS specializes in SaaS solutions and lead process management for the automotive industry, handling conversational intelligence, call handling and performance coaching.
Transaction was completed in December 2020.
Boxwood Partners Advises Virginia American Industries on its sale to Shamrock Environmental
Boxwood acted as the exclusive sell-side advisor for Virginia American Industries (VAI) to Shamrock Environmental, a portfolio company of CenterOak Partners.
VAI has four primary operating entities – Aqua Clean Environmental, Florida Recycling Solutions, Reco Biotechnology and Reco Biodiesel. The transaction brought together two leading companies in the environmental service industry.
Transaction was completed in December 2020.
“I am very proud of our firm’s accomplishments during what was a very challenging year for all of us,” said J. Patrick Galleher, Boxwood’s Managing Partner. “Despite the difficulties we faced during the pandemic, we were able to double the number of transactions from the previous year and achieve favorable outcomes for our clients. We anticipate continuing this success in 2021 and the years to come.”
New Offices:
Boxwood Partners relocated its company headquarters in November with a new office in Jupiter, FL. Boxwood has been very active in Florida over the last 18 months, with five transactions since the beginning of 2019 where the company was either headquartered or had a presence in Florida. The Jupiter headquarters allows the firm to further expand its brand in the rapidly growing Florida market.
Boxwood continues to operate its location in Richmond, VA and broke ground on a new 10,000 square foot office, which will open in July 2021.
Staff Growth:
In a year marked by continued success and high-profile engagements with leading middle-market clients, Boxwood made three key promotions on its staff in 2020. All three have played integral roles in Boxwood’s growth and success in recent years.
Brian Alas, who led transaction execution and sourcing for more than seven years, was named Managing Director in August. He started as Boxwood’s first intern in 2008 and worked at PwC in New York before rejoining the company as an Associate in 2013.
Madison Day was named Associate in August. He joined Boxwood as Analyst in 2017 following two summer internships with the firm.
Dan Martinson was promoted to Associate after serving as Analyst for the previous year and a half. He worked as an Audit Senior for Deloitte’s Audit and Assurance Practice prior to joining the firm.
Boxwood also hired two new full-time employees to its talented and growing staff in 2020. The firm now has seven full-time employees, nearly doubling its number of staff from 2018.
Kurtis Brown was hired as Analyst in July. The 2017 University of Richmond graduate came to Boxwood after serving as a Senior Derivatives Oversight Analyst at the Vanguard Group.
John Atkinson was hired as Analyst in October. He previously worked as a Financial Analyst at the Altria Group and graduated from the University of Richmond in 2016.
“2020 was a pivotal year for growth across the firm. From the opening of our new headquarters in Jupiter, number of transactions closed and valuable additions to our staff,” said Brian Alas, Boxwood’s Managing Director. “The additions to our team over the last year along with Madison and Dan’s promotions stem directly from our recent success, giving us the opportunity to continue to invest in our people to support future growth.”
About Boxwood Partners
Boxwood Partners, LLC, is a boutique investment bank based in Jupiter, Florida with offices in Richmond, VA. 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.
