Honor Tech Acquires 1,000+ Unit Home Instead, Plus More Bold Deals | Franchise Mergers and Acquisitions
Technology and operations platform for home care Honor technology acquired At home instead of care for the elderly, a home care franchise company with more than 1,000 units in the US, UK and Canada. Financial terms were not published. The 27-year-old Home State network will operate under the same name as a subsidiary of Honor, and Jeff Huber will continue to lead the company as CEO reporting to Honor CEO Seth Sternberg. The combined organization has sales of more than $ 2.1 billion and Honor will expand its offering to Home Statt’s caregivers and customers, “significantly increasing its investment in research and development through engineering and technology,” the company said .
Susquehanna Private Capital, which invested in home service franchisor Premium Service Brands this spring, has a minority stake in College HUNKS Scrap & Moving. Two former International Franchise Association chairs – David Barr and BrightStar Care CEO Shelly Sun – also invested in the 160-unit franchise, which was started out of a truck by two college friends. Although the terms of the deal were not disclosed, co-founders Omar Soliman and Nick Friedman will remain the brand’s top “visionaries” with Roman Cowan as brand president. The moving and scrap company added 40 new franchisees in 2020 and saw system-wide revenue growth of 17 percent year over year.
based in New York City CityRow, a fitness franchise offering rowing classes in the studio and digitally at home, raised $ 12 million in a Series A round led by JW Asset Management and including Sol Global and K2. “We are expanding the opportunity further. We’ve been talking about this for a long time. As you know, growing a business requires capital and often requires upfront investment, especially if you are investing in technology, ”said founder and CEO Helaine Knapp. “We want to accelerate this technology expansion and expand the omnichannel offerings. —Beth Ewen
Austin, Texas, resident F45 training began trading on the New York Stock Exchange under the ticker FXLV on July 15 and raised $ 300 million, selling 18.75 million shares in its initial public offering, which was $ 16 per share. The fitness franchisor, supported by actor and producer Mark Wahlberg, is led by Adam Gilchrist and has more than 2,000 franchises in 63 countries. The brand has received investments from other famous names such as David Beckham, Earvin “Magic” Johnson Jr., Greg Norman, and Cindy Crawford. F45 will use the net proceeds from the public offering to settle debt and purchase Flywheel’s indoor cycling studio business. The company initially attempted to merge with one of Crescent Acquisition Corp. in 2020. sponsored SPAC to go public, but the deal failed last October. F45, which has 50 locations in colleges and three in high schools, plans to expand its presence in these nontraditional areas, including military bases.
Tony Romas has a new owner and head of the company. The rib chain with 100 restaurants in 22 countries was taken over by New England stock investors. The investment firm named Ramon Bourgeoisas chief operating officer of Romacorp, the operator of Tony Roma, and deputy CEO, replacing John Briscoe. The terms of the deal weren’t disclosed, but Equity Investors said it plans to grow the nearly 50-year-old casual dining brand that only has eight locations in the U.S. Tony Romas had system-wide sales of $ 17.3 million in 2020, according to Technomic. and decreased in numbers by 56.3 percent.
For the second acquisition within the last six months WellBiz brands will buy Lunch box wax, a 49-unit speed wax salon franchise. This will mark 750 beauty store locations under the WellBiz umbrella, including Elements Massage, Amazing Lash Studio Fitness Together and Drybar, which WellBiz purchased in February. Debi Lane, founder of Lunchbox Wax, will remain on the team as a strategic advisor during the transition. LunchboxWax has concluded more than 30 franchise agreements and accepted more than 10 new franchisees since March 2010.
Quiznos’ parent High Bluff Capital Partners an agreement to purchase the Atlanta-based Chicken of the Church from FFL partners. The QSR chicken chain has more than 1,500 restaurants in 26 countries and is known as Texas Chicken outside of North America and Asia. The brand expects to open more than 100 new stores over the next year. Joe Christina will continue to lead Church’s Chicken as CEO, and although details of the transaction were not disclosed, the transaction is expected to close in the third quarter of 2021. Church’s Chicken sales declined 14.8 percent in 2020 and fell nearly 10 percent in units, according to Technomic. Investment firm High Bluff founded Rego Restaurant Group in 2018 when it acquired the fast-casual chains Quiznos and Taco Del Mar.
The Riverside Co.’s platform Threshold brands—A multi-brand franchisor — has acquired Plumbing heating paramedic and plans to begin franchising the concept immediately. This transaction also marks Threshold’s entry into franchise and HVAC franchising and the sixth company under its umbrella, including MaidPro, FlyFoe, Men in Kilts, Pestmaster and USA Insulation – with a total of more than 400 locations in North America. The Riverside Co. launched Threshold Brands in April to target retail service franchises. Riverside was the funder of Neighborly, formerly called The Dwyer Group, which he owned on two different times. Plumbing Heating Paramedics, a founder-owned and operated HVAC repair systems brand, was founded in Indianapolis in 2011 by Ryan Carpenter.
Quality restaurant group bought 12 Sonic Drive-In Locations in the greater Jacksonville, Florida area. QRG’s QualityDrive-In division will operate the restaurants and real estate it founded solely to own and operate Sonic drive-ins. QRG, based in Greensboro, North Carolina, owns and operates more than 350 restaurants, including 67 Moe’s Southwest Grill restaurants in Florida, South Carolina, Virginia, Maryland and the District of Columbia; nearly 200 Pizza Hut restaurants in Illinois, Indiana, Maryland, and Pennsylvania; 27 Arby’s locations in Colorado, Montana, Nebraska, Wyoming, and South Dakota; 76 Sonic drive-through restaurants in Florida and Alabama.
Three separate operators sold 10 Ohio KFC Restaurants too KBP brands, an existing franchisee. Linda Dempsey, Alessio DiFranco, Greg Federico and John Federico sold their fried chicken stores to KBP leader Mike Kulp, who won a Dealmakers Award as the largest domestic KFC franchisee in 2017 with the purchase of 91 KFC and Taco Bell restaurants from Star Partner Enterprises . Unbridled Capital provided sell-side advisory services to the three Ohio-based KFC operators.
Belfor Franchise Group, a large franchise group for residential and commercial services, has acquired the waste management solutions company Redbox + and its nearly 300 franchise units across the country. Redbox + offers a rental combination of roll-off waste container and portable toilet container for commercial, industrial and private project construction sites. Last year Belfor added drywall repair company The Path Boys under its umbrella, which also includes 1-800 Water Damage, Chem-Dry Carpet & Polstery Cleaning, Delta Restoration Services, Ductz International, Hoodz International, N-Hance Wood Refinishing, Packoutz and . includes Z plum ore.
BBQ stocks, the parent company of Famous Dave’s and Granite City Food & Bakery, announced that it has completed its $ 13.5 million purchase Village inn and Bakers Square. The acquisition expands the portfolio of BBQ Holdings by almost 150 restaurants, which also took over Granite City Food and Brewery from bankruptcy early last year. Village Inn has 21 company-owned restaurants and 114 franchise locations, while Bakers Square has 13 company-owned restaurants.