Coverall North America, a market leader in the commercial cleaning business, announced the appointment of Charlie Daniel as Chief Executive Officer. Daniel formerly worked as Chief Financial Officer of Coverall and oversaw the organization’s June 2021 sale to Wellspring Capital Management. Charlie succeeds Rick Ascolese, who served as CEO for nearly a decade and will now serve as Chairman of Coverall’s Board of Directors, focusing on the company’s ongoing strategic direction.
Charlie’s breadth of experience throughout Coverall’s business operations, coupled with his years as CFO, made him an ideal CEO candidate. In his new role at Coverall, Charlie Daniel will include accelerating the organization’s expansion as demand for professional commercial cleaning services increases.
According to Charlie, he has been a Coverall family member for more than four years. He has worked alongside our experienced and devoted team members to assist Franchise Business Owners while also identifying possibilities to improve financial and operational efficiencies and optimize franchisee success. They plan to expand our Franchise Owner base in 2022, give them enhanced training and support, and continue to supply them with exceptional services.
Wellspring Capital Management, LLC. Managing Partner Matthew Harrison stated that they had developed a good relationship with Charlie and the Coverall leadership team over the last six months. Charlie is an accomplished leader with a demonstrated track record of increasing efficiency, growth, and value creation. We are ecstatic to have him join Coverall as CEO.
Since 1985, Coverall North America, Inc. has developed into a premier franchise brand, licensing thousands of entrepreneurs to operate their commercial cleaning franchise businesses. Over 8,000 Franchise Business Owners operate within the Coverall network, serving over 50,000 consumers in 90 markets. Along with the United States, Coverall operates in Canada and Asia. Coverall created the Coverall Core 4® Process in 2014, showcasing its commitment to continual innovation and leadership on behalf of its franchisees.
Since its inception in 1995, Wellspring has raised nearly $4.5 billion from six private equity funds and invested in over 45 platform investments across the U.S. and global markets in the last 25 years. Wellspring’s goal is to add value to every investment. Wellspring aspires to uncover underlying value and pursue new growth prospects through strategic initiatives, operational improvements, and add-on acquisitions. The firm acts as a strategic partner, providing top-notch support, M&A experience, financial expertise, and resource access.
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