Jon-Don Sold to Incline Equity Partners
MIAMI—January 13, 2021— Nationwide carpet cleaning and restoration industry distributor Jon-Don today was purchased by Incline Equity Partners. Jon-Don portfolio selling owner, Trivest Growth Investment Fund (TGIF), announced the sale, though terms of the sale were undisclosed.
Jon-Don is a value-added distributor of industry supplies and equipment specialty contractors across the water and fire restoration, carpet cleaning, safety, and other cleaning markets.
“Partnering with TGIF was one of the best business decisions I’ve ever made,” John Paolella, co-founder and chairman of Jon-Don, said. “Trivest’s path to three times framework enabled us to aggressively and successfully pursue growth in a structured fashion. As non-control investors, in just over three years, they helped increase the value of Jon-Don well beyond what I thought was possible.”
Since the company’s founding in 1978 by John and Nick Paolella, Jon-Don has built a reputation as a leading supplier to specialty contractors with a broad product offering technical expertise. Operating from a footprint of 16 facilities across the United States, Jon-Don serves as a one-stop solution for its growing customer base, touting the motto “Let’s Tackle Your Toughest Jobs.”
Jamie Elias, partner at Trivest, added, “Our experience at Jon-Don served to validate TGIF’s unique value proposition of actively helping well-run founder-led businesses get to that next level while maintaining a non-control position in the business. The team at Jon-Don is top-notch and deserves an enormous amount of credit for the superior investment outcome.”
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February 21, 2023