Boxwood Partners

10/16/2026

Boxwood Partners is pleased to announce that Managing Partner Patrick Galleher has been elected to the Board of Directors of the International Franchise Association (IFA), the world’s oldest and largest organization representing franchising.

Patrick will begin his three-year term at the IFA’s 2027 Annual Convention in February.

He brings a perspective shaped by decades across the franchise industry as a franchisor, franchisee, and M&A advisor. At Boxwood Partners, Patrick leads the firm’s sell-side M&A advisory practice. Since 2011, the firm has completed more than 50 franchisor sell-side transactions.

This appointment reflects Patrick’s long-standing commitment to the franchise community. It also reflects the broader Boxwood team’s deep sector expertise and dedication to helping franchise systems reach their next phase of growth.

Congratulations, Patrick!

Full press release:

The Chairman and Managing Partner Brings Decades of Franchising, Business Leadership, and M&A Advisory Experience to the Industry's Leading Trade JUPITER, Fla., Oct. 16, 2026 /PRNewswire/ -- Boxwood Partners ,  a middle-market investment bank specializing in M&A adv

10/06/2026

Boxwood Partners is pleased to announce that it has advised H.M. Royal, Inc. on its sale to Univar Solutions.

A strong outcome for a century-old family business, the transaction positions H.M. Royal for its next phase of growth within Univar Solutions. The company will gain Univar's scale, logistics network, and digital infrastructure, while keeping the technical expertise and supplier relationships it has built over generations.

"Boxwood understood our business and ran a process that let us stay focused on customers and suppliers," said Joseph Royal, President of H.M. Royal. "Getting a transaction of this size across the finish line while running the day-to-day is hard and their expertise made it possible."

Congratulations to the Royal family, the H.M. Royal team, Univar Solutions, and all parties involved. Boxwood Partners served as the exclusive financial advisor to H.M. Royal on the transaction.

The Boxwood Partners deal team included Brian Alas (Managing Director), Madison Day (Director), John Atkinson (Vice President), Manny Dwyer (Associate), and Jerry Annunziata (Analyst).

Full press release: https://www.boxwoodpartners.com/press-releases/boxwood-partners-advises-hm-royal-on-sale-to-univar-solutions

09/29/2026

Managing Partner and CEO Patrick Galleher joined a panel of private equity leaders at Springboard this past weekend for "The Private Equity Saloon," an interactive session that walked the audience through a franchise acquisition one diligence card at a time.

Moderated by Jeff Dudan of HomeFront Brands, the panel included Ashish Seth of Harrington Park Advisors, Alex Bouthillette of Princeton Equity, and Jeremy Holland of The Riverside Company. As each card was revealed, panelists called BUY, HOLD, or FOLD and explained what would change their view.

Drawing on Boxwood's experience advising franchisors through equity events, Patrick highlighted several factors that shape buyer conviction. The discussion reinforced one consistent theme: the strongest outcomes are built well before a transaction begins.

Thank you to Patrick and fellow panelists for a valuable conversation!

09/15/2026

Managing Partner Patrick Galleher recently shared his perspective in Forbes on a question we hear often from founder-led businesses and franchisors: When is the right time to bring on a growth partner?

In his article, "Founder-Led Businesses And Growth Capital: Considerations For Investors," Patrick discusses:

❓ Why niche, service-based businesses in fragmented categories, not just national brands, are drawing strong private equity interest
❓ What signals a business is ready for outside capital, including demand that has begun to outpace available resources
❓ Why strong, consistent unit-level economics are essential to attracting investor confidence
❓ How the right growth partner can help preserve what made a business successful while providing the resources to scale

As private equity continues to look beyond household names toward durable, essential businesses, understanding what investors are really evaluating remains critical for founders considering their next step.

Read the full article here:

By Patrick Galleher, originally published on Forbes.com Patrick Galleher is the Managing Partner of Boxwood Partners , an investment bank in Jupiter, Florida, where he leads sell-side transactions.

08/25/2026

Boxwood Partners is pleased to announce that it has served as the exclusive financial advisor to AmCoat Industrial, a leading manufacturer and distributor of high-performance ceramic and elastomeric coatings, in connection with senior secured financing from ServisFirst Bank.

The financing positions AmCoat Industrial to scale its platform while preserving the flexibility to keep investing in product innovation, dealer support, and long-term growth.

Congratulations to Jason Crawford and the AmCoat Industrial team, as well as ServisFirst Bank, on this important step forward for the company. Boxwood Partners served as the exclusive financial advisor to AmCoat Industrial on the transaction.

The Boxwood Partners deal team included Patrick Galleher (Managing Partner), Robbie Nickle (Managing Director), and Jason Neff (Analyst).

Full press release: https://www.boxwoodpartners.com/press-releases/boxwood-partners-advises-amcoat-industrial-on-financing-from-servisfirst-bank

08/23/2026

RIP - Tom Dorsey and Watson Wright.

In 1987, two men started a research firm in Richmond, Virginia on a simple conviction: fundamentals tell you what to buy, but price tells you when. Dorsey, Wright & Associates became one of the most respected names in technical analysis, and the Point & Figure and Relative Strength work they pioneered still moves through the market every day.

Boxwood was privileged to serve as exclusive advisor to Tom and Watson on the sale of DWA to Falfurrias Capital Partners in 2011 — a partnership that set the stage for Nasdaq’s acquisition of the firm four years later.

What we remember isn’t the transaction. It’s the two men across the table: generous with their time, direct in their dealings, and fiercely loyal to the people who built the business alongside them. They trusted us with their life’s work. That trust is the highest compliment this business offers.

Men among men.

Our thoughts are with the Dorsey and Wright families, and with the team at Nasdaq Dorsey Wright carrying the work forward.
Rest easy, gentlemen.

08/21/2026

Managing Partner and CEO Patrick Galleher recently joined Jeff Henningsen on the Private Equity Fast Pitch podcast for a conversation on navigating market cycles, entrepreneurship, and franchising.

Drawing on decades of experience as an operator, entrepreneur, and advisor, Patrick discussed the importance of timing when considering a sale, why finding the right partner can matter more than maximizing price, and how breaking large challenges into smaller, manageable pieces leads to better outcomes.

Whether you're a founder, franchise executive, investor, or entrepreneur, the conversation offers practical perspective on building long-term value and navigating major decisions with confidence.

Listen to the full episode: https://open.spotify.com/episode/4mTMeYcNxnz5keiRm7Um0d?si=0747165aa6414c19&nd=1&dlsi=164eba6718bd4f6c

Private Equity Fast Pitch · Episode

08/04/2026

Q2 2026 PE wrap-up: capital is abundant, liquidity is not.

Four numbers that framed the quarter:

Deployment held up. Global PE put $1.0 trillion to work across 9,294 deals in the first half of 2026, with the US alone accounting for $545 billion across 3,926 deals. But the rolling twelve-month deal count fell to a 21-quarter low. Sponsors are doing fewer, bigger, higher-conviction deals.

Exits are the problem. Just 1,315 global exits at midyear, a pace not seen in over a decade. US exit value fell from $191 billion in Q1 to $102 billion in Q2.

Portfolios are aging. The implied capital cycle is now roughly seven years, well beyond historical norms, and a majority of assets sitting in buyout portfolios were acquired in 2021 or earlier.

Fundraising is bifurcating. North America-based PE funds raised more capital in H1 than in any first half in three years, while the number of fund closings fell to its lowest level since H1 2020. Big funds are getting bigger. Everyone else is grinding.

What it means if you own a business:

Dry powder is not the constraint. Conviction is. Deals are still clearing at high prices, but mostly for A-plus assets. Buyers leaned toward businesses with physical or labor-intensive components that are less exposed to automation, and toward domestically oriented revenue insulated from geopolitical disruption. That is a direct tailwind for well-run franchise, multi-unit consumer, and home and facilities services platforms.

And the aging portfolio is a coiled spring. Sponsors need distributions. When the window opens, the supply of sale processes will be heavy, which is an argument for getting your house in order now rather than joining the queue later.

Preparation is the whole game in a market like this.

Sources: KPMG Pulse of Private Equity Q2'26; PitchBook; Bain Private Equity Midyear Report 2026.

08/03/2026

Strategic partnerships continue to shape the future of the senior services industry, and we're proud to have played a role in another important transaction in the space.

Boxwood Partners served as the exclusive financial advisor to Ridgemont Equity Partners and Coogee Bay Partners in their acquisition of Caring Transitions, a leading provider of senior relocation, downsizing, estate sales, and digital marketplace services through CT Bids.

This marks Boxwood's third transaction in the senior care services sector over the past 18 months, reflecting our continued commitment to advising businesses and investors in industries supported by strong long-term growth fundamentals.

Congratulations to Ridgemont Equity Partners, Coogee Bay Partners, Caring Transitions, and everyone involved in reaching this milestone. The Boxwood Partners deal team included Brian Alas (Managing Director), Dan Martinson (Director), and Donovan Murphy (Associate).

Read the full press release: https://lnkd.in/ggvsThGA

07/22/2026

Boxwood Partners is pleased to announce that it has advised Expert Traffic Control on its sale to Right Traffic.

This transaction positions Expert Traffic Control, a leading provider of mission-critical traffic management and work zone safety services, for continued growth while strengthening Right Traffic’s national platform across North America.

Congratulations to Pete Nelson, Nick Whitehead, the Expert Traffic Control team, Right Traffic, and all parties involved. Boxwood Partners served as the exclusive financial advisor on the transaction.

The Boxwood Partners deal team included Robbie Nickle (Managing Director), Jaylan Hewitt (Analyst), and Jason Neff (Analyst).

Full press release: https://www.boxwoodpartners.com/press-releases/boxwood-partners-advises-expert-traffic-control-on-its-sale-to-right-traffic