Webster Capital has sold Jan-Pro, a franchise-based commercial cleaning system, to Incline Equity Partners. Jan-Pro was acquired by Webster Capital in September 2008 from J. H. Whitney & Co.
Jan-Pro’s franchise network is comprised of master franchises with exclusive geographic markets who support independently owned unit franchises that perform cleaning services for its customers. Jan-Pro’s franchisees service light commercial businesses with footprints of less than 50,000 square feet such as automotive dealerships, fitness centers, banks, religious facilities, preschools and medical offices. The company, led by President and Chief Executive Officer Eddie Curry, is headquartered in the Atlanta suburb of Alpharetta (www.Jan-Pro.com).
“It has been a pleasure working with the professionals at Jan-Pro and we are proud of the work we have done to help the company thrive during our ownership,” said David Malm, a Co-Managing Partner at Webster.
Webster Capital invests in branded consumer, business-to-business, and healthcare services companies with EBITDAs from $3 million to $15 million and transaction values from $20 million to $100 million. At present, Webster has $600 million under management and is currently investing its third fund which closed in 2014 with $400 million in capital commitments. The firm was founded in 2003 and is based in the Boston suburb of Waltham (www.webstercapital.com).
Incline, the buyer of Jan-Pro, invests from $15 million to $30 million in support of recapitalizations, buyouts and corporate divestitures of lower middle market companies that have an EBITDA greater than $5 million and an enterprise value between $30 million and $125 million. Sectors of interest include value-added distribution, specialized light manufacturing, and business and industrial services. Incline was formed in 2011 and is based in Pittsburgh (www.inclineequity.com).
© 2016 Private Equity Professional • 10-5-16
