If you can't beat 'em, buy 'em.
That seems to be the mantra at Richmond-based WayForth, an estate management company that is continuing its East Coast acquisition streak.
The startup has acquired Fulton, Md.-based Let’s Move, a provider of move management services in Virginia, Maryland and D.C.
Following the deal, WayForth has about 320 employees and full coverage across the Mid-Atlantic region – less than three years after launching.
It follows the spring acquisitions of senior relocation companies TAD and Door to Door Solutions, which is also based in Richmond. In 2018, WayForth acquired two other similar firms in the industry: Pennsylvania-based Moving Solutions and North Carolina's Chaos to Calm.
WayForth – which rebranded from Legacy Navigator in January – helps seniors and their families handle moves and estate disposition, and its acquisitions continue squarely in that vein. Let's Move has notched more than 7,000 clients for its home transition services since its founding in 2006.
The acquisitions, according to WayForth co-founder Craig Shealy, are mainly focused on recruiting employees and geographic coverage along the East Coast. This deal, however, is its largest to date – with 90 employees coming over – and also adds to its executive ranks.
Let's Move's co-founders, who are both becoming equity investors in the business, will take on major leadership roles following the move. Kimberly McMahon will become WayForth's COO and Allison Pihl will be senior vice president of corporate development and strategy. WayForth co-founder Pete Shrock will remain in his role of chief people officer.
"We strongly believe in our mission, and we can deliver this throughout other markets where WayForth exists," McMahon said. "We're proud to be a part of a move that's extending our core values and desires."
Shealy said WayForth is still hiring constantly, even as the acquisitions pile up.
"Acquisitions are a productive way to recruit exceptional people, and the number will continue to grow in all the markets we're in," he said. "We're looking for project managers, teams members with moving backgrounds, and client-support and sales roles."
Shealy noted that the startup remains primarily funded by Richmond family offices, as opposed to institutional investors, and that it will continue recruiting teams through acquisitions "up and down the East Coast."
