Dive Brief:
- Madison Capital Group has hired Jeff Guyette as chief development officer and Justin Boruchov as managing director of finance for its Fresh Stop c-store banner and Links Car Wash chain, according to a Thursday announcement.
- Guyette will oversee the growth strategy for both Fresh Stop and Links, with a focus on finding and evaluating new land and acquisition opportunities, according to the announcement. Boruchov will lead both brands’ financial strategy, capital structuring and investment planning.
- Fresh Stop and Links have seen a flurry of executive shifts over the past month as Madison aims to double both brands’ footprints across the Southeast and Mid-Atlantic.
Dive Insight:
Guyette and Boruchov have joined Madison the same week that the real estate investment and development firm hired Joshua Hamby as executive managing director. The hiring spree comes just a few weeks after both the CEO and president of Fresh Stop and Links exited the company.
All three new executives appear to be essential to Madison’s new growth strategy for Fresh Stop and Links, which includes raising $200 million to open 20 to 30 more locations for each banner, CEO Ryan Hanks confirmed last week. Fresh Stop and Links currently have about 17 and 30 sites, respectively.
Guyette joins Madison from Southeast car wash competitor Tidal Wave Auto Spa, where he spent nearly five years as vice president of real estate and development, according to the announcement and his LinkedIn bio. He’s also familiar with convenience retailing, having held real estate strategy and development roles with both QuikTrip and RaceTrac.
“Jeff’s experience and strategic mindset will be instrumental as we continue expanding our footprint,” said Hanks in the announcement. “His background in retail development and site strategy aligns closely with our vision for Fresh Stop’s continued growth.”
Boruchov brings two decades of experience in structured finance, including reposition loans, land loans, construction financing and bridge lending, to Madison. Prior to joining the company, he was managing director at Arrow Real Estate Advisors.
