Boxwood Partners

05/28/2026

"Dry Powder Mountain" hit a peak: $4.63T in global callable capital (PitchBook), with $1.3T for buyouts (Bain). After 4,018 US LMM deals in 2025, 2026 shifts to quality. PEGs are selective, prioritizing scalability in the $25M-$500M EV space.

04/25/2026

At a 12x multiple, a minor EBITDA adjustment is a $12M "price chip." Defend your EV with a sell-side QoE for a seamless F&B exit.

Read: https://www.boxwoodpartners.com/press-releases/how-quality-of-earnings-impacts-your-sale-priceand-how-to-get-ahead-of-it

04/13/2026

The most resilient competitive advantage is the human moat. Culture and leadership drive hard enterprise value for multi-unit owners. A deep leadership bench and low turnover command premiums at exit. www.boxwoodpartners.com

04/13/2026

In an increasingly automated landscape, the most resilient competitive advantage isn’t a proprietary algorithm or a new tech stack: it’s your people.

For multi-unit franchise owners, the "human moat" is built through culture, leadership, and operational excellence at the unit level. While competitors can replicate a menu or a service offering, they cannot easily steal a high-performing team or a culture of accountability.

At Boxwood Partners, we see firsthand how these "soft" assets translate into hard enterprise value. When a founder or private equity firm looks to exit, a business with a deep leadership bench and low turnover consistently commands a premium.

Your team isn’t just an overhead cost; they are the ultimate hedge against disintermediation and the key to long-term scalability.


www.boxwoodpartners.com

04/09/2026

We are excited to share that Boxwood Partners has been named to the 2026 Axial Advisor 100, recognizing the most highly regarded lower middle market M&A advisors in North America.

This highlights our team’s continued focus on delivering strong outcomes for founder-led and franchise businesses, as well as our ongoing momentum across key sectors including franchise services, consumer services, and industrial markets.

As Managing Partner Patrick Galleher shared: “This recognition reflects the trust our clients place in us during some of the most important moments in their business journey. We’re proud to be recognized alongside a group of highly respected advisors and remain focused on delivering thoughtful, strategic outcomes for every client we serve.”

We’re proud of our team’s work and grateful for the founders, management teams, and financial sponsors who continue to place their trust in Boxwood Partners!

Full release: https://www.boxwoodpartners.com/press-releases/boxwood-partners-named-to-2026-axial-advisor-100-list

04/09/2026

Managing Partner Patrick Galleher will be attending ACG DealMAX 2026 in Las Vegas, April 27-29.

ACG DealMAX is always a highly productive few days, bringing together thousands of middle-market dealmakers for focused meetings, idea-sharing, and relationship building.

With over 3,000 professionals across private equity, investment banking, and corporate development, it’s one of the most efficient ways to connect and move conversations forward.

Excited for a strong few days of meaningful conversations and reconnecting with peers across the industry.

If you’ll be there, connect with Patrick!

04/08/2026

Boxwood Partners is pleased to share that it has advised Flight Adventure Park on its sale to Ninja Kidz Action Parks.

This transaction brings together two complementary platforms and creates a compelling opportunity to accelerate growth, expand nationally, and continue investing in innovative guest experiences.

Congratulations to the Flight Adventure Park team, Ninja Kidz Action Parks, and all parties involved. Boxwood Partners served as the exclusive financial advisor to Flight on the transaction.

The Boxwood Partners deal team included Brian Alas (Managing Director), Madison Day (Director), Manuel Dwyer (Associate), Justin Jasper (Associate), and Jake Kapp (Analyst).

Full press release: https://www.boxwoodpartners.com/press-releases/boxwood-partners-advises-flight-adventure-park-on-its-sale-to-ninja-kidz-action-parks

03/27/2026

Boxwood Partners is pleased to announce that it has advised RS Boes Holdings, leading franchisee of Precision Garage Door Service®, on its acquisition by Burlington Capital Partners and RF Investment Partners.

This transaction positions the leading multi-territory garage services franchisee for continued growth across both residential and commercial service offerings, while further strengthening its operating platform.

Congratulations to Robert and Stephanie Boes, the RS Boes Holdings team, Burlington Capital Partners, RF Investment Partners, and all parties involved. Boxwood Partners served as the exclusive financial advisor on this transaction.

The Boxwood Partners deal team was led by Madison Day (Director) and Drew Asadorian (Associate).

Full press release: https://www.boxwoodpartners.com/press-releases/boxwood-partners-advises-united-franchise-group-on-sale-of-vast-coworking-group-to-new-state-capital-partners

03/27/2026

Boxwood Partners is pleased to share a strong close to 2025, marked by continued momentum advising founders, owner-operators, and financial sponsors across the middle market.

Throughout the year, our team supported clients across consumer services, franchising, healthcare services, business services, and infrastructure-related markets, delivering strategic outcomes for companies including Jimmy Hickman Excavating LLC, Foris Solutions, HomeWell Care Services Franchising, Prime IV Hydration & Wellness, International Franchise Professionals Group - IFPG, and more.

2025 also marked continued investment in our platform. We welcomed eight new team members across our sponsor coverage, associate, and analyst groups and began 2026 by promoting several members of the team, including Robbie Nickle to Managing Director.

As J. Patrick Galleher, CEO and Managing Partner, shared: “2025 was a year of strong ex*****on and meaningful outcomes for our clients. In a market that continues to reward preparation and operational clarity, we focused on delivering senior-led advice and connecting clients with the right strategic or financial partner.”

We’re grateful for the trust founders, management teams, and financial sponsors continue to place in Boxwood Partners and look forward to building on that momentum in 2026.

Full press release: https://www.boxwoodpartners.com/press-releases/boxwood-partners-caps-a-high-impact-2025-and-expands-advisory-platform-heading-into-2026

Leading Middle-Market M&A Advisory Firm Builds on Strong Year of Client Outcomes and Expanding Sector Expertise ‍ JUPITER, Fla. (MARCH 16, 2026) — Boxwood Partners today announced a strong close to 2025, marked by continued momentum advising middle-market founders, owner-operators, an

03/27/2026

Boxwood Partners is pleased to announce that it has advised United Franchise Group on the sale of Vast Coworking Group to New State Capital Partners.

A strong outcome for a leading global coworking platform and franchisor, the transaction positions Vast for continued expansion of its flexible workspace brands, further franchise development, and strategic investment to support long-term growth in the evolving hybrid work environment.

“We were honored to advise United Franchise Group and the Vast leadership team on this transaction,” said Robbie Nickle, Managing Director at Boxwood Partners. “Vast has built a differentiated platform in the flexible workspace sector with a highly scalable franchise model, and we believe New State is an excellent partner to support the company’s next phase of growth."

Congratulations to Ray Titus, Jason R. Anderson, the Vast Coworking Group team, New State Capital Partners, and all parties involved. Boxwood Partners served as the exclusive financial advisor to United Franchise Group on the transaction.

The Boxwood Partners deal team included Robbie Nickle (Managing Director), Brian Alas (Managing Director), Colby Carter (Vice President), and Nicholas Logue (Associate).

Full press release: https://www.boxwoodpartners.com/transaction/https/wwwboxwoodpartnerscom/press-releases/boxwood-partners-advises-united-franchise-group-on-sale-of-vast-coworking-group-to-new-state-capital-partners

Transaction Information Deal (Client): Vast Coworking Group Ownership: Privately Owned Transaction Type: Sellside / Majority Sale Industry: Franchising Close Date: February 2026 See Full Details