BackFrontenac Announces Recapitalization of Honk Technologies
Chicago, IL
Frontenac, a Chicago-based private equity firm, today announced the recapitalization of Honk Technologies (“Honk”), a technology-enabled provider of roadside assistance solutions serving insurance providers, OEMs, and fleet management companies. Financial terms of the transaction were not disclosed.
Founded in 2014, Honk operates a national platform that connects motorists experiencing roadside issues to a network of independent tow operators and light-duty service technicians. The company delivers a fully integrated customer interface and dispatch platform designed to improve transparency, accelerate response times, and enhance end-customer experience for its client partners. Honk serves as a forward-looking alternative to traditional motor clubs and legacy white-label providers.
At the closing of this transaction, Honk completed a strategic add-on acquisition focused on non-tow services delivered through a national, light-duty service technician network. The combination creates a vertically integrated, national roadside assistance platform with broad service capabilities, attractive unit-level economics and operational efficiency.
This investment is the result of CEO1ST® partnership with former members of the Grubhub leadership team including Adam DeWitt, CEO of Honk and former CEO of Grubhub, Matt Maloney, Chairman of Honk and founder of Grubhub, and Eric Ferguson, COO of Honk and former COO of Grubhub. Collectively, this team brings a history of scaling complex logistics systems and a focus on operational excellence across large-scale organizations.”
“Honk sits at the intersection of technology, logistics, and customer experience, and we see a tremendous opportunity to build the market-leading platform in roadside assistance,” said Adam DeWitt, CEO of Honk. “The company’s strong operational foundation, combined with a rapidly expanding service model and national network, positions Honk to redefine how enterprise clients deliver roadside assistance to their customers. We’re excited to work alongside the Frontenac team as we execute on our growth plan and continue to elevate the standard of service in this industry.”
DLA Piper served as legal counsel to Frontenac in connection with this transaction.
About Honk Technologies
Founded in 2014, Honk is a technology-enabled provider of roadside assistance solutions for insurance providers, OEMs, and fleet management companies. The company operates a national platform connecting motorists to a network of independent tow operators and light-duty service technicians, delivering a fully integrated customer interface and dispatch platform. For more information, please visit www.honkforhelp.com.
About Frontenac
Frontenac is a Chicago-based private equity firm. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with established operating leaders, through an executive-centric approach called CEO1ST®, which seeks to identify, acquire, and build market-leading companies through transformational acquisitions and operational excellence. Over the last 55 years, Frontenac has built a franchise working with over 350 owners of mid-sized businesses as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit www.frontenac.com.
