The Dwyer Group, one of the world’s largest franchising companies of trades service brands, entered into a definitive agreement to be acquired by an investor group led byTZP Capital Partners I, L.P., a private equity fund based in New York. The deal is expected to close by the end of the year.
Valued at approximately $150 million, Waco, TX-based The Dwyer Group serves as a holding company for seven residential and commercial franchise service brands. The franchise network includes more than 1,500 franchisees operating in the U.S. and seven other countries. In addition to its franchise concepts, Dwyer also owns and operates 37 full-service glass stores in Maine, Vermont and New Hampshire. Dwyer’s franchisees along with its company-operated stores account for nearly $800 million in annual system-wide revenues.
“We’re extremely excited to welcome The Dwyer Group to the TZP family and become involved with a group of franchisees and associates dedicated to a unique Code of Values,” saidSam Katz, managing partner of TZP Group LLC. “As a leader in the service industry, The Dwyer Group’s brands complete over two million service calls a year and are well positioned for expansion. Equally important to our investment philosophy and our support for growing companies, Dwyer’s executives remain fully committed to the business.”
Dina Dwyer-Owens, chairwoman and CEO of The Dwyer Group, will remain in place along with the entire executive team. The purchase, when complete, will transfer majority ownership from The Riverside Company to TZP along with a significant reinvestment from The Dwyer Group executive team, and a new investment from each brand president within The Dwyer Group of Companies.
Pictured here: Front row: (L to R) Dina Dwyer-Owens, CEO and Chairperson of The Dwyer Group; Sam Katz, Managing Partner of TZP Group. Back row: (L to R) Mike Bidwell, COO and President of The Dwyer Group; Nathan Chandrasekaran, Vice President of TZP Group; Duke Johnston, General Counsel and Vice President of Legal and Governmental Affairs of The Dwyer Group; Debbie Wright-Hood, Chief Administrative Officer of The Dwyer Group; Vladimir Gutin, Senior Partner of TZP Group; Robert Tunmire, Executive Vice President of The Dwyer Group and Tom Buckley, CFO and Treasurer of The Dwyer Group.
Source: The Dwyer Group