Propelled Brands is New Vehicle for More B2B Acquisitions | Franchise Mergers and Acquisitions

Fastsigns and NerdsToGo have a new parent company called Propelled Brands, led by Catherine Monson, which was announced on March 30th. Monson is also the chairman of the International Franchise Association.

“We are very pleased to officially introduce Propelled Brands,” she said in a statement. “This is an important milestone for us as we lay the foundation for the expansion of our brand portfolio.”

LightBay Capital and Freeman Spogli acquired Fastsigns in March 2019. At the time, their strategy was to put Monson and their top two executives on a shopping spree, Monson told Franchise Times in an earlier interview.

They said, “You are underemployed, let’s form the Dwyer group of business-to-business franchisees,” Monson said, referring to the umbrella franchise Neighborly, which owns 28 household services brands.

“I’m disappointed that it took us a year and six months to make our first acquisition. You have to kiss lots of frogs before you find a prince, ”said Monson of the October 2020 acquisition of NerdsToGo, an IT services franchise.

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