Boxwood Partners Advises Fastest Labs on its Acquisition by LP First Capital and Genesis Park
Boxwood Partners Advises Fastest Labs on its Acquisition by LP First Capital and Genesis Park
Successful Transaction Adds to Boxwood’s Track Record as Trusted Advisor within Franchising
JUPITER, FL – (April 21, 2023) – Boxwood Partners, a trusted middle-market investment bank, announced today the acquisition of Fastest Labs (“the company”) by LP First Capital and Genesis Park. Boxwood served as the exclusive sell side advisor to Fastest Labs, further solidifying its position as the premier advisor in franchising.
The Boxwood team leading the transaction included J. Patrick Galleher, (Managing Partner), Brian Alas (Managing Director), and Colby Carter (Associate). The terms of the deal were not disclosed.
Fastest Labs, founded by Dave Claflin, has been a leader in the drug, alcohol, and DNA testing industry, delivering fast, reliable, and accurate testing solutions to clients across the United States. The company’s cutting-edge technology and commitment to exceptional customer service have made it the “go to” provider for small and medium-sized businesses across a variety of sectors.
“This partnership between Fastest Labs, LP First Capital and Genesis Park will allow Dave and LeDona Claflin to accelerate growth and strengthen support and resources for their franchisees,” Galleher said.
Dave Claflin recognized the Boxwood team for its guidance and support provided throughout the process.
“I’m grateful for Boxwood’s counsel and careful attention to detail from the get-go to the finish line of this transaction,” Dave Claflin said. “I look forward to the partnership with LP First Capital and Genesis Park to take Fastest Labs to the next level of growth.”
LP First Capital, a business services focused private equity firm, specializes in partnering with family-owned, founder-led businesses to help them achieve their full potential by providing capital, operational expertise, and strategic guidance. Genesis Park is a Houston-based investment firm that provides flexible debt and equity capital solutions to lower middle market businesses across various sectors.
“Fastest Labs has shown tremendous potential and is a perfect fit for our business services platform,” said Thomas Ince, Managing Director and Founder of LP First Capital. “We are excited to work closely with Dave and his team to expand the company’s reach and enhance its offerings to best serve customer’s needs.”
Dave Claflin echoed Ince’s optimism about the partnership, adding, “We are thrilled to join forces with LP First Capital and Genesis Park. Their focus on family-owned, founder-led businesses and commitment to supporting our growth will enable Fastest Labs to continue delivering the highest quality testing services and strengthening our position as a leader in the industry.”
Chase Stuart and Craig Canter of Ice Miller and JoyAnn Kenny of Fisher Zucker served as legal counsel to Fastest Labs.
About Boxwood Partners
Boxwood Partners, LLC is a boutique investment bank based in Jupiter, Florida with offices 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 Fastest Labs
Fastest Labs is a premier nationwide provider of drug, alcohol, and DNA testing services, offering fast and accurate results for individuals, businesses, and government agencies. Based in San Antonio, with a focus on exceptional customer service and state-of-the-art technology, Fastest Labs has earned a reputation as a trusted leader in the testing industry. The company’s franchise network spans across the United States, delivering reliable and convenient testing solutions to clients nationwide.
About LP First Capital
LP First Capital is a business services focused private equity firm that specializes in partnering with family-owned, founder-led businesses to help them achieve their full potential. By providing capital, operational expertise, and strategic guidance, LP First Capital helps provide the support and tools needed to grow and develop its portfolio companies. The firm’s experienced team of industry professionals is dedicated to driving value and generating superior returns for all stakeholders.
About Genesis Park
Genesis Park is a Houston-based private credit and equity investment firm. Its current investment fund, GP Capital Partners, LP, is licensed as a Small Business Investment Company (“SBIC”) by the U.S. Small Business Administration. Genesis Park supports growth and later stage lower middle market businesses through flexible debt and equity capital solutions and strategic guidance. Genesis Park generally targets companies with at least $10 million of revenue and $2 million of EBITDA, with proven business models and seasoned management teams. Managed by four experienced investment professionals with broad regional relationships, Genesis Park is committed to partnering with the companies and management teams in which it invests to facilitate growth, transition, and success. For more information, visit www.genesis-park.com.
