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Byrider Franchisees Partner to Acquire Franchising Assets

By: Byrider |  0 Shares     412 Reads

September 12, 2024 // Franchising.com // CARMEL, Ind. -- Byrider announced today that an investor group of Byrider franchisees has acquired the assets of Byrider Franchising from Altamont Capital Partners and started a new, franchisor-only entity named Byrider Franchising Partners, LLC.

Greg Barrett, John Chalfant, Sean Garber, Chris McPhie, Tom Swigart, and Chris Thomas comprise the ownership group. Altamont Capital will continue to hold equity in the new entity. Garber has been elected Chairman of the Board of Directors.

“We are partnering with our fellow franchisees to lead Byrider to new success,” said Garber. “The investment by our franchisee ownership will empower the entire enterprise to better support our amazing customers. Together, we will strengthen the company’s culture and communicate more meaningfully with our franchisees.”

Byrider’s franchise support team provides franchisees with accounting guidance, legal and compliance expertise, human resources and recruiting, innovative marketing, modern information technology solutions, a custom credit scorecard, and robust in-person and virtual training.

"It is inspiring to everyone in our system to have franchisees who believe in our mission, brand, and business model to such a degree as to acquire ownership of it. Their commitment speaks volumes to franchisees," added Byrider Franchising CEO Mike Onda.

Onda continues as CEO of the new organization, retaining several key executives and staff. Onda joined Byrider in 2014 as a strategy executive, moved on to progressive operational leadership roles, became CEO in early 2024, and has been integral to the transition to the new company.

SOURCE Byrider

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