2ULaundry – a laundry and drycleaning service led by co-founders Alex Smereczniak and Dan Daquisto, and headquartered in Charlotte, N.C. – has announced the acquisition of The Folde, a leading competitor based in Houston and Austin, Texas.
The acquisition of The Folde marks a milestone for 2ULaundry, as the company continues to change the way people approach one of the most dreaded household chores – laundry. The purchase of The Folde comes off the momentum of a recent $20 million Series B strategic investment from Level 5 Capital Partners, fueling the company’s rapid growth. With this latest round of funding, 2ULaundry is positioned to expand its operations and reach new markets across the country.
To date, the company has operations in North Carolina, South Carolina, Florida, Georgia, and Texas.
“Our team is thrilled about the opportunity to acquire and join forces with The Folde,” said Alex Smereczniak, co-founder and CEO of 2ULaundry. “This acquisition represents a massive step toward our vision of building the first nationally recognized brand in laundry and drycleaning.”
The acquisition positions 2ULaundry at the forefront of the rapidly expanding laundry and drycleaning pickup-and-delivery market, which is estimated to be worth more than $20 billion in the United States alone. With no clear winner or dominant business model in this space, 2ULaundry believes its acquisition of The Folde positions the company as the leading contender to capture this significant market.
“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 added. “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.”
Additionally, 2ULaundry stated that the acquisition serves a broader purpose of advocating for fairness and equity within the industry. Historically, laundromat owners have not been able to leverage their scale of business to overcome cost and bureaucratic obstacles from municipalities, manufacturers, and other vendors, according to the company. With increased size, 2ULaundry aims to forge a path for the industry, its franchise partners, and all of the independent operators across the country.
“By coming together, we believe we can have a positive impact on the laundry and drycleaning industry as a whole,” Smereczniak continued. “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, joins the 2ULaundry team as its director of central operations.
“Joining forces with 2ULaundry presents an incredible opportunity for our team,” Vlaskamp explained. “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.”
