Executive Team Will Stay as Business Uses Capital for Growth
Orangewood Partners, a private investment firm that takes long-term stakes in companies, has invested in Servpro West Coast, a major franchisee of the brand. Servpro provides cleaning, restoration and reconstruction of properties after a damaging event such as a fire or flood, a rapidly growing economic segment.
The value of the global disaster cleanup services market is expected to grow from $10.7 billion in 2023 to $26.5 billion by 2028, according to Marketsandmarkets.com. Those totals reflect a projected compound annual growth rate of 19.8%.
Top-Performing Franchise
Orangewood Partners often gives financial support to franchise founders and franchises that have a history of strong performance. Servpro West Coast was the restoration brand’s Franchise of the Year in 2021, and it has ranked in the top 2% of all Servpro franchises every year since 2017. Founded in 2015, it is one of Servpro’s largest franchises.
The Servpro West Coast executive team – the three co-founders CEO Alan Reed, Chief Financial Officer Darryn Barber and Chief Operating Officer Manny Corral – will each retain a “meaningful equity stake” in the company and will continue to lead the franchise, according to a news release.
As one of Servpro’s 12 designated Extreme Response Team franchises, the West Coast Servpro franchise is equipped to remediate damage even to very large commercial establishments and to very quickly mobilize after a disaster. The franchise provides 24/7 for emergency services to help commercial and residential property owners deal with fires, floods/leaks, mold, biohazards and asbestos; it also can undertake reconstruction after cleanup.
Investment Will Aid Growth
Servpro West Coast will use the capital from Orangewood Partners to expedite growth across business lines and geographies, the news release stated. The business operates licensed franchise territories in the greater Los Angeles metropolitan area. Like other Servpro franchises, it coordinates with national corporations and property owners in providing its services.
“This partnership is only the beginning of our company’s journey,” CEO Reed said in a news release about the Orangewood investment. “We couldn’t be more thrilled to work with Orangewood and utilize their vast network and expertise in the real estate and franchise industries. We wouldn’t be here without the hard work and dedication of our loyal team members and customers, who will continue to be key to our success.”
CFO Barber said the franchise will continue to pursue excellence. “We strive to be the gold standard across the Servpro system, and we partnered with Orangewood because they share that vision.”
Statement from Orangewood
Eric Engler, managing director of Orangewood, praised the business for provided “end-to-end support throughout a project’s lifecycle. We are excited to partner and work closely with Alan, Darryn and Manny, and we look forward to providing the team with capital and operational support through their next phase of growth.”
Alan Goldfarb, founder and managing partner of Orangewood, said his firm carefully chooses franchise partners “within rapidly growing sectors of the economy, where our strategic capital, resources, and operational know-how can help accelerate growth and deliver value to all stakeholders.”
About Orangewood and Servpro
Founded in 2015, Orangewood Partners is a New-York-based private investment firm with a long-term approach. Orangewood targets lower-middle-market, founder-led, family-owned B2B and B2C businesses that are in non-cyclical and fragmented industries. Orangewood supports companies so they create long-term value for investors, parent companies and communities.
Today Servpro has more than 2,100 franchisees in the United States and Canada. In 2019, investment funds affiliated with Blackstone acquired a majority stake in Servpro. The brand was founded by the Isaacson family in 1967.
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