Key Takeaways
- • Princeton Equity Group has completed the sale of Five Star Franchising to Levine Leichtman Capital Partners (LLCP), according to a Business Wire release dated November 10, 2026; terms were not disclosed.
- • Five Star operates more than 870 locations across the US and Canada spanning residential services including bath remodeling, flooring, biohazard cleanup, pest control and holiday lights.
- • Princeton partnered with founders Scott Abbott and Chad Jones in 2021 to build a residential services franchisor platform, which later expanded through several acquisitions.
- • Robert W. Baird & Co. was lead financial advisor to Five Star, and Akin Gump Strauss Hauer & Feld LLP served as legal counsel to Princeton and Five Star.
Summary
Princeton Equity Group, a private equity firm focused on franchisor and multi-unit concepts with approximately $3.0 billion in assets under management, has completed the sale of Five Star Franchising to Levine Leichtman Capital Partners, according to a Business Wire announcement. The companies did not disclose the transaction terms.
Princeton entered the platform in 2021, partnering with Five Star founders Scott Abbott and Chad Jones to build a portfolio of residential services franchisor brands. The initial brands were Bath Solutions and ProNexis, a franchise-focused digital marketing company. Five Star subsequently acquired Gotcha Covered, Bio-One, 1-800-Packouts, Mosquito Shield, CardMyYard, Five Star Flooring and Decorate With Lights. The platform now has more than 870 locations across the United States and Canada, offering services ranging from bath remodeling and flooring to biohazard cleanup, contents packout and restoration, mosquito and pest control, and holiday lighting.
Abbott, Five Star's CEO, said the company would continue investing in its brands and serving its franchisee base with LLCP's support. Doug Kennealey, managing partner of Princeton, said the firm's investments in talent, technology and centralized shared service infrastructure should provide a sound foundation for continued growth. Partner Joseph Trahan described the brands as leaders in attractive categories with a shared commitment to franchise owner success.
Robert W. Baird & Co. acted as lead financial advisor to Five Star, and Akin Gump Strauss Hauer & Feld LLP served as legal counsel to both Princeton and Five Star.
Princeton entered the platform in 2021, partnering with Five Star founders Scott Abbott and Chad Jones to build a portfolio of residential services franchisor brands. The initial brands were Bath Solutions and ProNexis, a franchise-focused digital marketing company. Five Star subsequently acquired Gotcha Covered, Bio-One, 1-800-Packouts, Mosquito Shield, CardMyYard, Five Star Flooring and Decorate With Lights. The platform now has more than 870 locations across the United States and Canada, offering services ranging from bath remodeling and flooring to biohazard cleanup, contents packout and restoration, mosquito and pest control, and holiday lighting.
Abbott, Five Star's CEO, said the company would continue investing in its brands and serving its franchisee base with LLCP's support. Doug Kennealey, managing partner of Princeton, said the firm's investments in talent, technology and centralized shared service infrastructure should provide a sound foundation for continued growth. Partner Joseph Trahan described the brands as leaders in attractive categories with a shared commitment to franchise owner success.
Robert W. Baird & Co. acted as lead financial advisor to Five Star, and Akin Gump Strauss Hauer & Feld LLP served as legal counsel to both Princeton and Five Star.
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