WayForth, a Richmond-based company that specializes in assisting seniors with decluttering and moving to smaller residences, is expanding with its third and fourth acquisitions in less than a year.
The company said Friday that it has acquired TAD Relocation and TAD Transport, a Gaithersburg, Md.-based company that also helps seniors transition to senior living communities, condos, apartments and smaller homes.
The acquisition of TAD comes less than a week after WayForth bought Door to Door Solutions, another Richmond-based senior-move management firm.
With the two acquisitions, “we will be the largest senior relocation solutions provider in the country,” said Craig Shealy, WayForth’s co-founder and CEO. “We will have a strong position from Philadelphia to Charlotte, N.C.”
Founded by Shealy, Pete Shrock and Matt Paxton in 2016 as Legacy Navigator, the company changed its name to WayForth in January as part of a rebranding. The company started out helping families with estate disposition but also quickly entered the growing market for helping seniors declutter and relocate.
WayForth says it helps seniors and their families “solve the logistical, financial and emotional problems that come with major life transitions across all aspects of downsizing and estate management.”
Shealy said demand for those services is growing as the U.S. population ages.
“About 10,000 people a day are turning 65 in the United States,” he said. “The oldest baby boomers are in their early 70s, and people start to have a higher need for our services usually from the time they are in their mid-70s to 80s.”
Last year, the company acquired two other senior relocation services: Moving Solutions of Havertown, Pa., and Chaos to Calm of Charlotte.
The TAD acquisition gives WayForth a more significant presence in the Maryland, Northern Virginia and Washington, D.C., markets.
With all of the acquisitions, WayForth has grown to employ about 200 people, Shealy said. About 50 of them work in the Richmond area.
The company assisted 15 families during its first year of operation in 2016. With the acquisitions, WayForth will serve “thousands” of clients a year, Shealy said.
Financial terms of the deals were not disclosed. The leaders of each of the acquired companies have joined WayForth’s leadership team. That includes Katie Hamann and Donnie Harper of Door to Door Solutions in Richmond, and Susan Danick, Joel Danick and Siamak Massoudi of TAD.
“They are not just selling the businesses,” Shealy said. “They are deeply invested in partnering with us to make it successful.”
The company’s acquisition last year of Moving Solutions brought on board that firm’s founder, Margit Novack, a pioneer in the senior relocation industry who is the founding president of the National Association of Senior Move Managers.
“With our whole team, we have got hundreds of years of experience in senior relocation,” Shealy said. “It is quite literally the founders of this industry coming together to take advantage of this huge demographic shift.”