Restoration 1 Franchise Owner in Spokane, WASH., Announces a Growth Investment From Traction Capital Partners
February 16, 2023
DALLAS – (Feb. 16, 2023) – Scott Whitaker, owner of Restoration 1 Spokane, Washington has partnered with Traction Capital, an investment firm dedicated to helping entrepreneurs in the Western U.S. Private equity firms have recently begun investing as franchisees in the restoration industry, signaling a new era of business growth and opportunity. The influx of funds across the industry will allow local businesses to expand their services as well as provide more resources for those impacted by natural disasters.
Whitaker opened his first Restoration 1 franchise in 2017 while serving as Captain of the Spokane Valley Fire Department. Over the last five years he has experienced strong growth, expanding into additional territories in Central Washington and garnering the attention of Traction Capital. With this investment, Whitaker's franchises will be able to reach new milestones and provide more support across multiple communities.
“I am excited to partner with Traction Capital as we grow our business to the Tri-Cities and Yakima area and look to other opportunities beyond the state. I believe a key component of our success thus far is the fact that we have built a team of great people and helped them succeed individually. Traction shares this philosophy and will allow us to develop even further,” said Whitaker.
“On behalf of everyone at Traction, we are excited to partner with Scott and the Restoration 1 team in Dallas to continue to provide best in class services to customers in the Western U.S. Whitaker has developed a great team, and we look forward to working in the background to help provide the resources and systems necessary to continue to grow the business into multiple states,” said Justin Turner, Managing Partner at Traction Capital.
Based in Dallas, Restoration 1 has rapidly expanded to 313 locations open and in development across the U.S. to become one of the fastest-growing brands in the $210 billion property restoration industry.
“Over the last several years, we have been focused on developing our franchisees' individual businesses and providing resources to help them grow their financial performance,” said Sherry Rose, CEO of Stellar Service Brands. “My vision is to empower franchisees to serve more customers and enter into new markets, so that they, too, can achieve the American Dream. Whitaker's partnership with Traction is a testament to his persistence and dedication to both his team and the surrounding community.”
To learn more about opening a Restoration 1 franchise, visit restoration1franchise.com.
About Restoration 1®
Founded in 2008, Restoration 1 is an award-winning franchise that specializes in a wide array of emergency mitigations, restoration and reconstruction services. An industry innovator, the Texas-based company uses advanced technologies and tools to perform restoration for both residential and commercial properties that have been damaged due to water, smoke, fire, mold, storms and more. There have been 397 agreements awarded throughout the U.S. with plans to expand to more than 500 locations nationwide in the next couple of years. For more information about Restoration 1, visit http://www.restoration1.com.
About Traction Capital
Traction Capital Partners LLC is a Seattle-based investment firm which focuses on acquiring businesses based in the Western U.S. that present opportunities for long-term growth. When they acquire a business, they do so with the intention of owning it for the next 20 years. For more information, please visit: www.tractioncp.com
The Restoration 1 Spokane, Washington Franchise Partnership with Traction was also announced here:
- Yahoo Finance - Yahoo shares the Restoration 1 franchise news
- Yahoo - The Restoration 1 franchise partnership with Traction is highlighted here
- StreetInsider.com - This article details the Restoration 1 franchise and Traction partnership news
- Mergers & Acquisition - A summary of the Restoration 1 franchise and Traction partnership is provided here
- Franchising World - In the "Featured Franchisees" section of their April 2023 publication, Franchising World shared Scott Whitaker's recent news