Boxwood Partners

Boxwood Partners is pleased to announce that it has advised Expert Traffic Control on its sale to Right Traffic.

This transaction positions Expert Traffic Control, a leading provider of mission-critical traffic management and work zone safety services, for continued growth while strengthening Right Traffic’s national platform across North America.

Congratulations to Pete Nelson, Nick Whitehead, the Expert Traffic Control team, Right Traffic, and all parties involved. Boxwood Partners served as the exclusive financial advisor on the transaction.

The Boxwood Partners deal team included Robbie Nickle (Managing Director), Jaylan Hewitt (Analyst), and Jason Neff (Analyst).

Full press release: https://www.boxwoodpartners.com/press-releases/boxwood-partners-advises-expert-traffic-control-on-its-sale-to-right-traffic

As we conclude H1 2026, the Private Equity landscape reflects a period of strategic recalibration.

Data from PitchBook and KPMG reveals a complex intersection of macroeconomic headwinds. Q2 2026 deal value dropped 37.5% QoQ to $177.3B, while global H1 investment fell 6% YoY to $333.2B. Fundraising reached its weakest level since 2017 at $373B, and Q1 exit values declined 34% to $96B.

The market remains notably bifurcated. While megadeals persist, the mid-market exhibits caution due to geopolitical uncertainty and private credit stress. Themes such as AI-driven software disruption are redefining platform potential, even as dry powder remains robust at over $2T. Notably, GP-led secondaries continue to serve as a primary liquidity channel.

Navigating this environment requires institutional-grade management and professionalized operations. At Boxwood Partners, we remain committed to advising lower-middle market companies and Private Equity Groups as they leverage value-creation opportunities in this evolving market.

Private equity interest in the franchise sector remains resilient, driven by inherent scalability and recurring revenue. However, institutional investors apply a rigorous lens to potential acquisitions.

For franchisors seeking capital or a liquidity event, these are the 10 pillars PEGs prioritize:

1. Unit Economics: Demonstrable franchisee profitability.
2. Scalable Growth: A robust development pipeline and expansion potential.
3. Recurring Revenue: Predictable royalty streams.
4. Franchisee Health: High retention and satisfaction scores.
5. Financial Performance: Strong EBITDA margins and cash flow.
6. Systems & Processes: Repeatable operating manuals ensuring consistency.
7. Infrastructure: Leadership capable of institutional-grade operations.
8. Brand Equity: Defensible market position and awareness.
9. Governance: Financial transparency and rigorous reporting.
10. Exit Strategy: A clear roadmap for secondary exit opportunities.

Boxwood Partners specializes in bridging the gap between high-growth franchisors and institutional buyers. Our advisory services ensure your brand is positioned to maximize value in the current market.

Preparation can make all the difference in a successful transaction.

In our latest blog written by Patrick Galleher, The Ultimate Guide to Sell-Side Quality of Earnings: Everything You Need to Succeed in 2026, we explore why a sell-side Quality of Earnings (QoE) report has become one of the most important tools for founders, private equity groups, and management teams preparing for an exit.

The guide covers:
• Why a sell-side QoE helps defend valuation and reduce ex*****on risk.
• How QoE impacts franchisors, multi-unit operators, and consumer-facing businesses with complex financials.
• Common red flags that can be addressed before buyers begin diligence.
• Best practices for preparing your business for a successful transaction in today’s competitive M&A environment.

As buyers continue to conduct increasingly rigorous diligence, thoughtful preparation remains one of the most effective ways to position a business for a successful outcome.

🔗 Read the full guide here: https://www.boxwoodpartners.com/press-releases/the-ultimate-guide-to-sell-side-quality-of-earnings-everything-you-need-to-succeed-in-2026

www.boxwoodpartners.com

Managing Partner and CEO Patrick Galleher recently joined Gary Occhiogrosso on the Mastermind Minutes podcast from Franchise Growth Solutions for a conversation on mergers and acquisitions, franchising, and building long-term enterprise value.

Drawing on more than 25 years of experience advising founders, franchise brands, and private equity groups, Patrick shares perspectives on preparing businesses for growth, navigating strategic transactions, and what separates companies that achieve exceptional outcomes.

Whether you're a founder, franchise executive, investor, or entrepreneur, this episode offers valuable insights into scaling a business and positioning it for long-term success.

🎧 Watch the full episode: https://www.youtube.com/watch?v=rNJZ-yRjbn4

WHAT MAKES A FRANCHISOR ATTRACTIVE FOR A PRIVATE EQUITY FIRM ATTRACTIVE FOR AN INVESTMENT OR EXIT ? MasterMind Minutes. One Guest- One Question- One Answer Today our...

"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.

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

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

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

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