CHARLOTTE, N.C. — Laundry and drycleaning service 2U Laundry, led by co-founders Alex Smereczniak and Dan Daquisto, reports it has acquired The Folde, a leading competitor based in Austin, Texas. Terms were not disclosed.
“Our team is thrilled about the opportunity to acquire and join forces with The Folde,” says Smereczniak. “This acquisition represents a massive step towards our vision of building the first nationally recognized brand in laundry and dry cleaning.”
The Folde is a laundry delivery service based out of laundromats in Austin and Houston, Texas. The self-service laundromats double as private production facilities after retail business hours. It operates a delivery-first model catering primarily to delivery laundry service customers.
This milestone comes off the momentum of a recent $20M Series B strategic investment from Level 5 Capital Partners, fueling 2U Laundry’s rapid growth. 2ULaundry is positioned to expand its operations and reach new markets across the country. To date, it has operations in North Carolina, South Carolina, Florida, Georgia and Texas.
The company believes the acquisition positions it as the leading contender to capture the rapidly expanding laundry and drycleaning pickup and delivery market, estimated to be worth $20 billion in the United States alone.
“Pickup and delivery represents a massive market opportunity, and we are confident that acquiring The Folde places us in a superior position compared to any other company in the industry,” Smereczniak says. “We are committed to delivering exceptional service and convenience to our customers, and we see tremendous potential to redefine the laundry and drycleaning experience on a national scale, especially now more than ever with what the two combined companies have learned.”
Moreover, 2ULaundry believes the acquisition serves a broader purpose of advocating for industry fairness and equity. Historically, laundromat owners have not been able to leverage their scale of business to overcome cost and bureaucratic obstacles, the company says. With its increased size, 2ULaundry aims to forge a path for the industry, its franchise partners, and independent operators across the country.
“By coming together, we believe that we can have a positive impact on the laundry and drycleaning industry as a whole,” says Smereczniak. “We are stronger together than as separate entities, and we aspire to create opportunities for other industry players to be treated fairly and with the respect they deserve.”
Mark Vlaskamp, co-founder and managing partner of The Folde, says he’s enthusiastic about the acquisition and his opportunity to join 2ULaundry’s team as director of central operations.
“Joining forces with 2ULaundry presents an incredible opportunity for our team,” he says. “In the beginning, we set out to prove that delivery laundry service was a real, scalable business within laundromats. But that was limited to our two Texas markets. Now, it is time to take that all across the country. As a team, we are excited to shift our focus to scaling laundry delivery operations on a national level.”
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