Greybull Stewardship has invested growth capital in an innovative environmentally friendly dry cleaning franchise headquartered in Hanover, Massachusetts. The company, Lapels Dry Cleaning (www.mylapels.com), began in 1999 to re-define “the future of dry cleaning” with its proprietary World’s Only 100% Environmentally Non-Toxic dry cleaning solvent and now has stores across the US and a few other countries. We see exciting opportunities for growth ahead as Lapels is already leading an expanding market. Below is the press release about the acquisition.
April 23, 2018 (Emeryville, CA) – Greybull Stewardship (“Greybull”), a unique, long-term-oriented partnership of business owners investing in exceptional small to medium-sized businesses, announces an investment in Lapels Dry Cleaning (“Lapels”), an innovative environmentally friendly dry cleaning franchise headquartered in Hanover, Massachusetts. Terms of the investment were not disclosed.
“I’m delighted that Greybull Stewardship understands the core strengths and potential of our business model. With Greybull’s investment, support, and long-term investment approach, I’m confident that Lapels Dry Cleaning, its employees, and its franchisees will continue to prosper,” said Kevin Dubois, CEO of Lapels. Dubois will remain CEO after the investment.
Lapels began to re-define “The Future of Dry Cleaning” in 1999 with its approach to dry cleaning. They have done this through building stores with the World’s Only 100% Environmentally Non-Toxic dry cleaning solvent, boutique-like storefronts, and customer-facing technology to allow for the most convenient dry cleaning experience.
“Our environmentally friendly cleaning process has no odor and is gentler on fabrics, thus lengthening the life of your clothes, removing the odor that is typically found from a dry cleaning process, and providing a better work environment for our staff,” said Dubois.
Lapels’ franchise model allows it to build small Hub & Spokes businesses throughout the world and enable the franchise owner to oversee this network with tremendous customer service. Lapels customers are greeted by a warm and inviting reception area at each location, with friendly customer service representatives and convenient alteration services.
Lapels offers its customers Automatic Rewards, earning clients credit toward free dry cleaning for every dollar they spend; a VIP Program that eliminates the need to wait in line, the use of a 24-hour drop-off service, and free home delivery to all of its customers. Same-day service is also available with pick-up after 5 pm (local time). Lapels’ mobile app allows customers to let a store know when they are on the way.
Each Lapels Dry Cleaning store offers a full slate of services, including same-day dry cleaning; shirt service; tailoring; shoe repair; wedding gown preservation; suede and leather processing; box storage and fur storage. Lapels Dry Cleaning has stores in Arizona (Gilbert, Chandler, Phoenix, Scottsdale), California (Gilroy, Hollister), Colorado (Littleton), Connecticut (Cromwell), Florida (Fleming Island, Orange Park, Tampa) Louisiana (Monroe, West Monroe, Delhi, Rayville, Winnsboro), Massachusetts (Abington, Allston, Bedford, Boston, Boston Seaport, South Boston, Brighton, Burlington, Canton, Cohasset, Dedham, Easton, Framingham, Hanover, Hingham, Kingston, North Andover, Malden, Marshfield, Martha’s Vineyard, Newtonville, Norton, Somerville, Stoughton, Walpole, Waltham, Wakefield, Wellesley, Westford, Westwood and Wilmington), Michigan (Beverly Hills, Rochester Hills, West Bloomfield), Mississippi (New Albany, Tupelo, Oxford, Pontotoc), Missouri (Wildwood), New Jersey (Brick, Livingston, Somerville), Ohio (Liberty Township), Oklahoma (Edmond, Oklahoma City), Pennsylvania (Bloomsburg), South Carolina (Myrtle Beach, Pawleys Island), Tennessee (Nashville, Franklin, Germantown), Texas (Bee Cave, Brownsville, Katy, Richmond). Additional locations are coming soon to Boston, MA, Lawrence, MA, Piscataway, NJ, Latham, NY, Arlington, TN, Little Elm, TX, Prosper, TX, Spring, TX, Sugar Land, TX and Doha, Qatar.
Lapels Dry Cleaning has received a number of accolades in the franchise world. Awards include being ranked as the number one franchise in the Dry Cleaning and Delivery Services category for Entrepreneur’s Annual “Franchise 500” for 2016. Entrepreneur‘s “Franchise 500” is the best and most comprehensive rating of franchises in the world and is based on objective, quantifiable measures of a franchise operation. Lapels Dry Cleaning has also been named to Franchise Times Top 200 list.
Lapels has achieved acclaim in the dry cleaning industry. Lapels Dry Cleaning CEO Kevin Dubois is the co-author of Entrepreneurial Insanity in the Dry Cleaning Business.
To learn more about franchise opportunities with Lapels Dry Cleaning, call toll free (866) 695-2735 or email sales@lapelsdrycleaning.com. Additional information and up-to-date company news can also be found at www.mylapels.com.
Greybull Stewardship is a long-term-oriented investment partnership that invests in exceptional small to medium-sized businesses. Its investments are usually in partnership with existing management teams that maintain significant equity ownership positions in their companies. Greybull’s model allows companies to preserve their unique company cultures, keep strong relationships with customers and employees, pursue appropriate growth rates, and exit on flexible time frames. More information is available at www.greybullstewardship.com.