College Hunks Hauling Junk & Moving® Partners with Susquehanna Private Capital and Two Former Chairs of IFA
Founded by two college students in a beat-up cargo van, the company now has over 160 franchises and $200M in annual revenue
TAMPA, FL, July 22, 2021 /24-7PressRelease/ - The purpose-driven, values-based, socially conscious, tech-enabled national moving and junk removal franchise College HUNKS Hauling Junk & Moving® recently accepted minority investments from Susquehanna Private Capital (Susquehanna) along with two former International Franchise Association (IFA) Chairs- David Barr and Shelly Sun.
Advised by Arlington Capital Advisors, Co-Founders and Visionaries Omar Soliman and Nick Friedman remain as head hunks. While terms of the agreement are undisclosed, the new investors will play roles on the board and help guide the future growth of the company. The two founders famously turned down a deal from Robert Herjavec on the very first episode of ABC's Shark Tank ten years ago. Since then, Soliman and Friedman have led a successful brand that capitalizes on disrupting the local moving and junk hauling industries with a focus on building leaders and stress-free client experiences. College HUNKS Hauling Junk & Moving now has over 160 franchises in the USA and Canada and is on pace to reach over $200M systemwide sales this year, nearly a 70% increase from 2020.
"Having Susquehanna, David Barr and Shelly Sun as investors is like putting together the dream team. College HUNKS is now well positioned to play to win. We have access to financial capital and intellectual leadership that is second to none in the franchise industry," said Friedman.
Susquehanna's selection as College HUNKS' minority partner over the high interest of other investors is credited to SPC's tech focus, patient capital, and experience in franchising. "We view this to be a blue-chip franchise that is recession and Covid resistant," said Kyle Squillario, co-head of the international group.
"After mentoring and observing this brand over the years, I am confident in their growth to become a billion-dollar company as College HUNKS continues to enhance its tech enablement," added David Barr, who also serves on the Board of Directors for multiple global franchise brands. Shelly Sun, Founder of the highly successful BrightStar Care franchise brand, also echoes Barr's sentiments- "I have enjoyed observing Nick and Omar's successes as Franchisors and leaders, and I'm excited to now be a formal part of their entrepreneurial journey."
"This is a benefit to our customers, employees and executive team, and our franchise partners benefit the most from this partnership," added Soliman. "With this addition of firepower and experience to our team, we are poised for explosive growth and even better franchisee support on our journey to becoming an iconic brand. We plan to establish more meaningful national accounts and disrupt the industry by leveraging our world-class culture, technology, brand and service."
SOURCE College H.U.N.K.S. Hauling Junk & Moving®
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