Recapitalization • Franchising

Starboard Capital Partners and JHW Greentree Capital Acquire Jan-pro

On January 1, 2005, private equity firms Starboard Capital Partners and JHW Greentree Capital acquired franchising company Jan-pro

Acquisition Context
  • This is Starboard Capital Partners’ 1st and JHW Greentree Capital’s 1st transaction in the Franchising sector.
  • This is Starboard Capital Partners’ 1st and JHW Greentree Capital’s 3rd transaction in the United States.
  • This is Starboard Capital Partners’ 1st and JHW Greentree Capital’s 1st transaction in Georgia.
Investment Fate
  • Jan-pro was recapitalized in 2008.
  • Jan-pro was sold to a strategic buyer in 2016.

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M&A Deal Summary

Date January 1, 2005
Target Jan-pro
Sector Franchising
Buyer(s) Starboard Capital Partners
JHW Greentree Capital
Deal Type Recapitalization

Target Company

Jan-pro

Alpharetta, Georgia, United States
Jan-pro operates its business in the commercial cleaning franchising industry and licenses its master franchise owners and unit franchisees under the trademark 'JAN-PRO. Jan-pro was founded in 2005 and is based in Alpharetta, Georgia.
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Buyers Overview 2

Buyer

Starboard Capital Partners

Southport, Connecticut, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Starboard Capital Partners LLC is an unsponsored investment group that works with private equity investors and management in acquiring mid-sized businesses valued between $25 and $100 million. In addition to investing, Starboard earns equity for initiating transactions and for ongoing advisory services. Sectors of interest include automotive, consumer products, building materials, construction, distribution, e-commerce, franchising, manufacturing, healthcare, and real estate. Starboard Capital was formed in 2004 and is based in Southport, Connecticut.


Deal Context for Buyer #
Overall 1 of 14
Sector: Franchising 1 of 1
Type: Recapitalization 1 of 5
State: Georgia 1 of 2
Country: United States 1 of 14
Year: 2005 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Midasco

Elkridge, Maryland, United States

Midasco provides installation and maintenance services for intelligent transportation systems, highway signing, lighting and signal categories in the Mid-Atlantic region of the U.S. Services include: estimating, bid preparation, engineering, project management, and full construction work on excavation, foundations, structure erection, electrical wiring, device installation, and integration.

Buy -
Buyer

JHW Greentree Capital

New Canaan, Connecticut, United States

Category Private Equity Firm
Founded 1946
Size Small
Type Sector Agnostic
DESCRIPTION

JHW Greentree Capital is the small business investment arm of investment firm JH Whitney. JHW Greentree is focused on buyouts, turnarounds, acquisitions, and recapitalizations of lower middle-market companies operating in a variety of industries. The Firm looks to commit up to $15 million of equity per transaction in businesses with $10 to $100 million of revenues. Broad sectors of interest include, consumer products specialty retail, healthcare services, specialty manufacturing and business services. Parent JH Whitney was originally established in 1946 and is headquartered in New Canaan, Connecticut.


Deal Context for Buyer #
Overall 3 of 6
Sector: Franchising 1 of 1
Type: Recapitalization 1 of 1
State: Georgia 1 of 1
Country: United States 3 of 6
Year: 2005 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-21 Satellite Tracking of People

Houston, Texas, United States

Satellite Tracking of People LLC is the provider of Global Positioning Satellite (GPS) tracking systems and services to the corrections and law enforcement agencies wishing to take advantage of the most recent technological developments in the field of offender monitoring.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-29 Advanced Metrology Systems

Billerica, Massachusetts, United States

Advanced Metrology Systems LLC manufactures high-throughput, non-contact measurement devices for in-line monitoring in semiconductor manufacturing.

Buy -