Boxwood Partners

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Boxwood Partners is pleased to announce that it has advised United Franchise Group on the sale of Vast Coworking Group to New State Capital Partners.

A strong outcome for a leading global coworking platform and franchisor, the transaction positions Vast for continued expansion of its flexible workspace brands, further franchise development, and strategic investment to support long-term growth in the evolving hybrid work environment.

“We were honored to advise United Franchise Group and the Vast leadership team on this transaction,” said Robbie Nickle, Managing Director at Boxwood Partners. “Vast has built a differentiated platform in the flexible workspace sector with a highly scalable franchise model, and we believe New State is an excellent partner to support the company’s next phase of growth."

Congratulations to Ray Titus, Jason R. Anderson, the Vast Coworking Group team, New State Capital Partners, and all parties involved. Boxwood Partners served as the exclusive financial advisor to United Franchise Group on the transaction.

The Boxwood Partners deal team included Robbie Nickle (Managing Director), Brian Alas (Managing Director), Colby Carter (Vice President), and Nicholas Logue (Associate).

Full press release: https://www.boxwoodpartners.com/transaction/https/wwwboxwoodpartnerscom/press-releases/boxwood-partners-advises-united-franchise-group-on-sale-of-vast-coworking-group-to-new-state-capital-partners

Vast Coworking Group — Boxwood Partners Transaction Information Deal (Client): Vast Coworking Group Ownership: Privately Owned Transaction Type: Sellside / Majority Sale Industry: Franchising Close Date: February 2026 See Full Details