Leading Private Equity Firm Fuels Re-Bath’s Growth as Home Services Sector Continues to Prosper.
PHOENIX — Home Brands Group Holdings Inc., the parent holding company of Re-Bath, the nation’s largest complete bathroom remodeling franchise, announced today it has been acquired by TZP Group LLC (“TZP”), a leading private equity firm with deep investment experience in home services and franchising industries, and a group of co-investors. Financial details of the transaction were not disclosed.
Re-Bath has grown into a trusted and respected brand known for providing expert, affordable, and effortless bathroom remodeling solutions that transform homeowners’ bathrooms in days, not weeks. Whether seeking a tub or shower area update, better accessibility and safety in your bathroom or a complete bathroom remodel, Re-Bath makes bathroom remodeling easy. The company’s exclusive remodel process removes old materials and fixtures and replaces them with beautiful new options in a wide variety of colors and styles.
Re-Bath’s success and leading market shared have not gone unnoticed. Ranked No. 2 on Qualified Remodeler‘s Top 500 Nationals List, Re-Bath was recognized for its consistent, strong growth and solidified its position in the industry as a top-rated franchise that now spans more than 100 locations across North America.
“We are thrilled to partner with Re-Bath and its terrific management team serving a group of committed franchisees across the U.S.,” said Vlad Gutin, Partner at TZP. “Re-Bath complements our growing portfolio of leading consumer brands. We believe Re-Bath’s unique, high-quality service offering, loyal customers, best-in-class products of leading brands and partnerships with premier, national retailers coupled with TZP’s relationships and resources can accelerate Re-Bath’s growth.”
Re-Bath is on pace to close out a remarkable 2021 following a strong 2020 that reflects impressive same-store-sales growth alongside multiple franchise openings. Increased demand for bathroom remodeling projects and market share gains drove nearly 80% YOY increase in systemwide sales year-to-date. Capitalizing on unprecedented demand, existing franchises are expanding and franchise development is on the rise. Re-Bath has signed 17 agreements year-to-date and projects signing 20 by year-end.
“We are excited to embark on our next chapter of growth with TZP’s investment representing a strong validation of the growth and success we’ve achieved and where we are headed,” said Re-Bath CEO, Brad Hillier. “Through this investment, we will be able to leverage TZP’s expertise and resources to further expand our brand to a wider audience and better serve our customers, franchisees, partners and employees. With continued investments in technology and human capital, our company will be well positioned for accelerated growth in the coming years.”
Re-Bath’s recent accelerated momentum brings it closer to the goal of becoming a billion-dollar-company. To achieve this milestone, Re-Bath plans to leverage TZP’s resources, and continue to focus on partnering with a growing number of exceptional franchisees, strengthening world-class corporate support, maximizing opportunities with national retail partners, and enhancing the customer-service experience with new technology and innovation. Combined, these efforts can propel Re-Bath to become a household name across the country.
William Blair & Company, LLC served as exclusive financial advisor, and Honigman LLP served as legal advisor to Re-Bath in connection with the transaction.
For more information on Re-Bath and franchise opportunities, visit www.rebathfranchise.com or call 888-454-8842.
About TZP Group
TZP Group, a multi-strategy private equity firm managing approximately $2.0 billion across its family of funds including TZP Capital Partners, TZP Small Cap Partners, TZP Strategies, and TZP Strategies Acquisition Corp., is focused on control, growth equity, and structured capital investments in business services and consumer companies. Founded in 2007, TZP targets companies with solid historical performance and sustainable value propositions and aims to be a “Partner of Choice” for business owners and management teams. TZP seeks to invest primarily in closely held, private companies in which the owners and management desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals’ operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation. For more information, please visit www.tzpgroup.com.
SOURCE Re-Bath
About Re-Bath
Re-Bath is the nation’s largest complete bathroom remodeling franchise that has grown to more than 100 locations across the country. The parent company’s first entry in the bathroom remodeling industry occurred in 1978 and focused on the hospitality sector. In 1991, Re-Bath launched its first franchise location to focus on the residential market. The company offers complete bathroom remodels, tub and shower updates, plus aging and accessibility solutions. From simple bathtub replacements to complete bathroom redesigns, Re-Bath makes bathroom remodeling effortless, convenient and affordable, all with professional, friendly and factory-trained installers. Re-Bath is a one-stop service that covers the entire process – from design to done – in three easy steps: consultation, removal, and installation. Re-Bath assembles its own exclusive line of products at its headquarters located in Phoenix, Ariz., and offers best-in-class products from national brands for its customers. For more information, please visit www.rebath.com or www.rebathfranchise.com for more details on the franchise opportunity.