Coverall® Names Charlie Daniel Chief Executive Officer to Lead National Growth Strategy
Charlie Daniel assumes position following over four years as Coverall’s Chief Financial Officer
DEERFIELD BEACH, FL
– [December 17, 2021] – Coverall North America
, a leading franchisor in the commercial cleaning industry, today announced Charlie Daniel will serve as its new Chief Executive Officer. Prior to assuming the helm of Coverall, Daniel served as the organization’s Chief Financial Officer and led the June 2021 sale of Coverall to Wellspring Capital Management
Charlie succeeds Rick Ascolese, who served as CEO for nearly 10 years and who will now transition to the role of Chairman of Coverall’s Board of Directors with a focus on the ongoing strategic direction of the company.
Charlie’s depth of experience across Coverall’s business functions, combined with his years of experience as CFO, made him the preeminent choice for CEO. In his new role, Charlie will be charged with building upon the growth trajectory of the organization as demand for professional commercial cleaning services rises.
“I have been part of the Coverall family for over four years,” said Charlie. “I have worked side-by-side with our dedicated and talented team members to help support our Franchise Business Owners while continuing to look for opportunities to drive financial and business efficiencies and maximize franchisee success. Looking ahead to 2022, we hope to expand our Franchise Owner base, provide them with enhanced training and support, as well continuing to provide them with the superior services they have come to expect from Coverall.”
The Coverall network includes more than 8,000 Franchise Business Owners, servicing over 50,000 customers across 90 markets. In addition to the U.S., Coverall’s international footprint includes locations in Canada and Asia.
“Over the past six months, we’ve built a strong partnership with Charlie and the Coverall leadership team,” said Matthew Harrison, Managing Partner, Wellspring Capital Management, LLC. “Charlie is a seasoned leader with extensive experience driving efficiencies, growth, and delivering value. We are thrilled to have him assume the role of CEO at Coverall.”
About Coverall North America, Inc.
Since its inception in 1985, Coverall North America, Inc. has grown into a leading franchised brand, licensing thousands of entrepreneurs to operate independent commercial cleaning franchise businesses using the Coverall® brand and system. In 2008, Coverall launched its proprietary Health-Based Cleaning System® Program, and in 2014, introduced the Coverall Core 4® Process, demonstrating its dedication to continuous innovation and leadership on behalf of its franchisees. Coverall’s unique process combines advanced cleaning technologies and tools, hospital-grade disinfectants, professional training programs, business support services, and a passion for healthy cleaning. For more information, visit www.coverall.com
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About Wellspring Capital Management
Wellspring Capital Management is a leading private equity firm headquartered in New York. Since its founding in 1995, Wellspring has raised over $4.5 billion of initial capital commitments through six private equity funds. Over the past 25 years, Wellspring has invested in over 45 platform investments across various segments of the U.S. and global economies. Wellspring’s objective is to bring partnership, experience and value creation to each investment. By teaming up with strong management, Wellspring seeks to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. The firm functions as a strategic partner, providing management teams with top-line support, M&A experience, financial expertise and access to resources. For additional information, please visit www.wellspringcapital.com