Princeton Equity Group (“Princeton”), a private equity firm focused on partnering with leading franchisor and multi-unit concepts, has completed the sale of Five Star Franchising (“Five Star”) to Levine Leichtman Capital Partners (“LLCP”). The terms of the transaction were not disclosed.

In 2021, Princeton partnered with Five Star founders, Scott Abbott and Chad Jones, to build a platform of residential services franchisor brands. The initial brands were Bath Solutions and ProNexis (a franchise-focused digital marketing company), and Five Star subsequently acquired Gotcha Covered, Bio-One, 1-800-Packouts, Mosquito Shield, CardMyYard, Five Star Flooring, and Decorate With Lights.

Today, Five Star has more than 870 locations across the US and Canada. Its brands offer a wide range of residential services, including bath remodeling, flooring, window coverings, biohazard cleanup, contents packout and restoration, mosquito and pest control, celebratory yard greetings, and holiday lights.

“We are grateful for the partnership with Princeton and proud of the platform we built together,” said Scott Abbott, CEO of Five Star. “With LLCP’s support and expertise, we will continue to invest in our brands and serve our growing base of franchisees.”

“It has been a privilege partnering with Scott, Chad, and the entire Five Star management team to help build a premier residential services franchisor platform,” said Doug Kennealey, Managing Partner of Princeton Equity Group. “Our collective investments in talent, technology, and a centralized shared service infrastructure should provide a sound foundation for Five Star’s continued growth.”

“Five Star is home to leading brands in attractive categories, with a shared commitment to franchise owner success,” added Joseph Trahan, Partner at Princeton. “We look forward to cheering on Five Star’s success with its new partner.”

Robert W. Baird & Co. served as lead financial advisor to Five Star on this transaction. Akin Gump Strauss Hauer & Feld LLP served as legal counsel to Princeton and Five Star in connection with the transaction.

About Five Star

Five Star is a platform of leading franchise brands, including Bath Solutions, Gotcha Covered, Bio-One, 1-800-Packouts, Mosquito Shield, CardMyYard, Five Star Flooring, and Decorate With Lights. Five Star also owns ProNexis, a digital marketing and lead-generation business for home services franchisees. The Five Star brands represent more than 870 locations across the US and Canada. For more information, visit www.fivestarfranchising.com.

About Princeton Equity Group

Princeton Equity Group is among the most experienced franchisor and multi-location investors in the United States, managing approximately $3.0 billion in assets. Princeton views each investment as a long-term, supportive business partnership with founders and management teams. Over a 20-year history, Princeton’s team has developed specialized operating and proprietary resources to help its partner companies’ scale. For more information, visit www.princetonequity.com.

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