Five Star Franchising of Springville, a service-based franchise platform company, has acquired 1-800-Packouts, a franchisor of residential contents restoration, packing, cleaning and climate-controlled storage services. In conjunction with the acquisition, Five Star has also launched 1-800-Textiles for customers needing cleaning, restoration and storage solutions for textiles damaged from water, smoke or fire.
Five Star was backed in the transaction by Princeton Equity Group of Princeton, New Jersey, a private equity firm focused on acquiring franchisor and multi-unit companies. The buyout is Five Star’s seventh acquisition since it launched in June 2021.{mprestriction ids="1,3"}
Based in Ball Ground, Georgia, Packouts has over 72 franchise territories across 22 states. CEO Kevin Loner founded the company in 2015 and will join Five Star in its ongoing campaign to develop a home services franchise system.
“I am excited to partner with the Five Star family of brands,” said Loner. “Five Star’s capabilities related to franchise development, operations and marketing support will allow us to accelerate our expansion in both new and existing markets. We look forward to collaborating with Five Star to continue to enhance our franchisee support systems and further improve our overall customer experience.”
“We are thrilled to partner with Kevin Loner and his team as they join the Five Star family of brands,” said Scott Abbott, CEO of Five Star. “Kevin has built a superb business with a strong track record of significant growth, operational excellence and customer service. Packouts will have an immediate, positive impact as a dynamic addition to the Five Star platform, and the launch of Textiles is a game-changer. The synergies between the two brands are immense and will allow us to better serve customers and franchisees.”{/mprestriction}
