ATLANTA--(BUSINESS WIRE)--Atlanta-based Garden City Companies, which counts Chick-fil-A Board Director - Dale Jones, Vanderbilt University Trustee - George Huber, President of the Clayton Family Office - Flynt Griffin, Music Artist - Chris Tomlin, Athlete and Entrepreneur - Drew Brees, and CEO of Ashley HomeStore DSG - Chad Spencer among its investors, acquired Duncan & Sons Building Maintenance, Knoxville’s top rated commercial janitorial and facilities maintenance company.
Garden City intends to expand Duncan & Sons’ services further across Tennessee and the broader Southeast. Headquartered in Knoxville, Tennessee, the family-owned business has been serving the East Tennessee market for more than 30 years.
“The Duncan Standard has always been about serving people. From our cleaners to executive management, everyone prides themselves for leading with a servant heart,” said Luke Duncan, CEO of Duncan & Sons. “With Garden City’s investment, we’re now equipped to further advance our mission and better serve our manufacturing, logistics, healthcare, education, office and church clients with the best cleaning service in the industry.”
“We couldn’t be more excited to join the Duncan & Sons family to continue building an employee-first culture where all workers can thrive,” said Michael Arrieta, Founder and CEO of Garden City Companies. “Our intent is to continue fostering a caring culture through unparalleled service to customers and deep care for our team members.”
According to Arrieta, Garden City has no intention to ever sell the company. “We’re not like traditional private equity that buys and flips companies in a few years. We buy great businesses to impact the lives of people and create lasting enterprises through culture and technology," he said.
“The janitorial business is an often overlooked industry where quality service makes all the difference,” said Arrieta. “There is no better cleaning company in the region than Duncan & Sons, and we are excited to share their quality and culture with many more.”
“Excellent service is a true differentiating factor in any industry, but especially in the janitorial space,” said Chick-fil-A Board Director, Dale Jones. “For decades, Duncan & Sons has cleaned with exceptional care, attention to detail, and professionalism. Together with Garden City, we are excited for many more to experience the level of service we offer.”
Vanderbilt University Trustee and CEO of Equity Investment Group, George Huber agrees. “Duncan and Sons is a trusted family business that has been providing quality service for over 30 years. Garden City’s buy and hold model allows us to make long-term investments to ensure the business thrives another 30 years.”
In addition to janitorial companies, Garden City is looking to acquire other small to mid-sized businesses across the Southeast from owners who are actively looking for a succession or liquidity plan. Inspired by Warren Buffett of Berkshire Hathaway, the company keeps the acquisition process simple with a 90-day process, using little to no debt and keeping management teams in place.
“As a local Tennessee business owner, I believe wholeheartedly in Garden City’s purpose-driven model where people matter most. I believe purpose-driven team members always create delighted customers and ultimately an experience second to none,” said Chad Spencer, CEO of Ashley HomeStore DSG. “I am excited to help scale this business across the great state of Tennessee,” he said.
For more information, visit gardencityequity.com.
About Garden City Companies:
Based in Atlanta, Garden City Companies is a purpose-driven holding company that acquires and permanently holds family-owned companies from business owners seeking a succession or liquidity plan. Inspired by Warren Buffet to build the Berkshire Hathaway of small to mid-sized businesses, Garden City’s mission is to build the best holding company in the world where all workers thrive. The company uses minimal debt and keeps management teams in place. Garden City raised more than $50 million from mission-aligned and value-add investors who are committed to helping grow the business.
