home services franchising platform

4 11, 2020

Authority Brands acquires STOP Restoration

2020-11-04T12:57:24-05:00November 4th, 2020|Tags: , , , , , , , , , , , , , , |

COLUMBIA, Md. — Authority Brands, LLC announced today the purchase of Service Team of Professionals (“STOP” or “STOP Restoration”). Terms of the transaction were not disclosed. The acquisition marks the seventh brand addition for Authority Brands since October 2018, with STOP Restoration representing the company’s ninth brand in its home service portfolio.

For decades, STOP Restoration has been helping clients transform disasters into peace of mind. Based in Indiana and currently operating in 31 territories across the U.S., STOP’s trained franchise professionals understand how stressful fire, water and mold damage can be and bring a depth in management and professionalism that makes the restoration process as easy as possible. The company is committed to providing the restoration services their customers need with the compassion and understanding they deserve.

Authority Brands’ companies include leading home service brands The Cleaning Authority, Homewatch CareGivers, America’s Swimming Pool Company, Mosquito Squad, Benjamin Franklin Plumbing, Mister Sparky, One Hour Heating & Air Conditioning and Monster Tree Service, which operate across the residential cleaning, at-home care, swimming pool repair and maintenance, pest control services, plumbing, electrical and heating, ventilation and air-conditioning (“HVAC”) and tree care sectors, respectively. Authority Brands supports individual franchisee growth by providing strong marketing, technology and operational support.

“We’re thrilled to add STOP Restoration to the Authority Brands portfolio. Their commitment to customer service and professionalism make them a standout brand in the industry. We’re excited to be working with their experienced team and look forward to helping them grow their presence across the U.S.,” said Rob Weddle, CEO of Authority Brands.

“The addition of a restoration brand is key to enhance Authority Brands’ offering to existing franchisees and their customers. Based on STOP’s impressive track record, we’re confident that this partnership will further strengthen Authority Brands’ network,” said Ashish Karandikar, Partner at Apax Partners.

“We’re excited to be joining Authority Brands as its newest home service company. With the robust marketing, operations and IT resources now available to us, we’re eager to continue our growth and propel our success as we work to further our position as a leader in the industry,” said Brian Clark, President at STOP Restoration.

Boxwood Partners represented STOP Restoration and acted as their financial advisor for the transaction.

About Authority Brands

Headquartered in Columbia, Maryland, Authority Brands’ companies include nine leading home service franchisors, America’s Swimming Pool Company, Benjamin Franklin Plumbing, The Cleaning Authority, Homewatch CareGivers, Mister Sparky, Monster Tree Service, Mosquito Squad, One Hour Heating and Air Conditioning, and STOP Restoration. Together, these brands provide home services through more than 1,900 territories operated by more than 1,000 franchise owners in the U.S., Canada, Latin America, Kenya and Indonesia. Authority Brands is dedicated to supporting individual franchisee growth through providing strong marketing, technology and operational support. See https://www.theauthoritybrands.com/ for more information.

17 09, 2020

Authority Brands acquires Monster Tree Service

2020-09-17T10:10:28-04:00September 17th, 2020|Tags: , , , , , , , , , , , , , |

COLUMBIA, Md. — Authority Brands, LLC announced today the purchase of Monster Tree Service. Terms of the transaction were not disclosed. The acquisition marks the sixth brand addition for Authority Brands since October 2018, with Monster Tree Service representing the company’s eighth brand in its home service portfolio.

Founded in 2008, Monster Tree Service is the leading tree care company in the U.S., and the only franchise offering local certified arborist teams in multiple locations nationwide. With more than 200 territories across the country, Monster Tree Service is committed to keeping trees healthy and customers satisfied. The brand provides a suite of effective and environmentally friendly services including tree removal, trimming and pruning, land and lot clearing, and more.

Authority Brands’ companies include leading home service brands The Cleaning Authority, Homewatch CareGivers, America’s Swimming Pool Company, Mosquito Squad, Benjamin Franklin Plumbing, Mister Sparky and One Hour Heating & Air Conditioning, which operate across the residential cleaning, at-home care, swimming pool repair and maintenance, pest control services, plumbing, electrical and heating, ventilation and air-conditioning (“HVAC”) sectors respectively. Authority Brands supports individual franchisee growth by providing strong marketing, technology and operational support.

“Monster Tree Service is a terrific addition for Authority Brands. As the largest franchised residential tree service in North America, they’re a great complement to our other leading home service brands. We’re excited to help them continue their extraordinary growth by putting all of our marketing, operations and IT resources behind them,” said Rob Weddle, CEO of Authority Brands.

“The acquisition of Monster Tree Service supports our strategy of growing Authority Brands and furthers its position as a leader in home service business franchising. We’re pleased to support the expansion of Authority Brands’ network and we are confident that this collaboration will help strengthen their portfolio of brands,” said Ashish Karandikar, Partner at Apax Partners.

“We’re excited to be joining Authority Brands as its newest home service company. This is a significant step for our brand that will help propel our growth and success as we continue to provide unparalleled services to customers across the country. We look forward to this new venture together,” said Scott Hilary, Vice President of Operations at Monster Tree Service.

Boxwood Partners represented Monster Tree Service and acted as their financial advisors for the transaction.

About Authority Brands

Headquartered in Columbia, Maryland, Authority Brands’ companies include eight leading home service franchisors, America’s Swimming Pool Company, Benjamin Franklin Plumbing, The Cleaning Authority, Homewatch CareGivers, Mister Sparky, Monster Tree Service, Mosquito Squad, and One Hour Heating and Air Conditioning. Together, these brands provide home services through more than 1,875 territories operated by nearly 1,000 franchise owners in the U.S., Canada, Latin America, Kenya and Indonesia. Authority Brands is dedicated to supporting individual franchisee growth through providing strong marketing, technology and operational support. See https://www.theauthoritybrands.com/ for more information.

21 02, 2019

Authority Brands welcomes the Clockwork brands into its family

2019-02-21T16:17:28-05:00February 21st, 2019|Tags: , , , , , |

Addition doubles Authority Brands’ overall system revenue to over $1 billion

NEW YORK and COLUMBIA, Maryland — Authority Brands, a leading home services franchising platform backed by funds advised by Apax Partners, announced today the acquisition of Clockwork, Inc., and certain of its affiliates (“Clockwork”) from Direct Energy Group, a subsidiary of Centrica plc. The transaction is expected to close in the first half of 2019. The acquisition is the third home services add-on for Authority Brands since the company was acquired by funds advised by Apax Partners in September 2018.

Established in 1999, Clockwork delivers critical home services through three leading plumbing, electrical, and heating, ventilation and air-conditioning (“HVAC”) providers across the United States. Its household-name brands – Benjamin Franklin Plumbing® (“Benjamin Franklin“), Mister Sparky® electric, and One Hour Heating & Air Conditioning® (“One Hour”) – are all rated among the best-in-class in their respective categories.

Authority Brands is the parent company to leading home services brands The Cleaning Authority, Homewatch CareGivers, America’s Swimming Pool Company and Mosquito Squad which operate across the residential cleaning, at-home care, swimming pool repair and maintenance, and pest control services sectors respectively. Authority Brands supports individual franchisee growth by providing strong marketing, technology and operational support.

Rob Weddle, CEO of Authority Brands, said: “The addition of the Clockwork group of brands is an important and significant step in the evolution of Authority Brands. All three brands are market-leading franchises within their respective industries and their addition to our portfolio doubles our overall system revenue to over $1 billion. This scale allows us to further strengthen each of our brand’s systems and continue down the path of becoming the home services franchisor of choice for both business owners and consumers.”

Ashish Karandikar, Partner at Apax Partners, said: “We are delighted to support Authority Brands in this transformational acquisition. The Clockwork brands operate in attractive markets and will bring scale and diversification to Authority Brands’ platform. We anticipate substantial benefits for both businesses from cross-selling and collaboration across marketing, technology and operational support.”

Bruce Stewart, president of Direct Energy Home North America said: “The decision for this sale reflects our goals to focus and simplify our channels to customers and to own our own brands. Authority Brands is a good home for Clockwork and the franchise owners and customers will see no difference in our service delivery as we conclude this transaction.”

About Authority Brands

Headquartered in Columbia, Maryland, Authority Brands, LLC is the parent company of four leading home service franchisors, The Cleaning Authority, Homewatch CareGivers, America’s Swimming Pool Company and Mosquito Squad. Together, these brands provide recurring home services through more than 550 franchise locations in the U.S., Canada, Latin America, Kenya and Indonesia. Authority Brands is dedicated to supporting individual franchisee growth through providing strong marketing, technology and operational support.

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.