Fastsigns and NerdsToGo have a new parent company called Propelled Brands, headed by Catherine Monson and announced March 30. Monson is also chair of the International Franchise Association.
“We are thrilled to officially unveil Propelled Brands,” which she said in a statement “marks a key milestone for us as we lay the foundation to expand our portfolio of brands.”
LightBay Capital and Freeman Spogli acquired Fastsigns in March 2019, and at the time their strategy was to unleash Monson and her two top executives on an acquisition spree, Monson told Franchise Times in an earlier interview.
They said, “You guys are under-employed, let’s make the Dwyer Group of business-to-business franchisees,” Monson said, referring to the franchise umbrella firm now called Neighborly, which owns 28 home services brands.
“I’m disappointed it took us a year and six months to make our first acquisition. You’ve got to kiss a lot of frogs before you find a prince,” Monson said about acquiring NerdsToGo, an IT services franchise, in October 2020.