Waco-based company Dwyer Group has been acquired by Harvest Partners, marking the fourth and largest private equity transaction of Dwyer Group in the franchise organization's history.
"We are thrilled to partner with the Dwyer Group management team. They have built an excellent company and we look forward to providing additional financial and strategic resources to help them further build on their market leader status in the service franchise category," said Steve Eisenstein, Partner at Harvest Partners.
Harvest Partners purchased Dwyer Group from The Riverside Company, a company that has invested in Dwyer Group on two occasions, taking the company private in 2003 and reacquiring it in 2014.
"Dwyer Group is such a special company that we enjoyed two successful partnerships with them," said Riverside Partner Meranee Phing. "It's been deeply rewarding to work with a wonderful and talented team that shared our goals and values as we realized our vision for the company."
Dwyer Group serves as a holding company for 20 service brands with a franchise network of more than 3,200 franchisees operating around the United States and eight other countries.
Harvest Partners is New York-based a private equity firm with more than 35 years experience investing in companies and partnering with high-quality management teams to support those businesses as they continue to grow.
"The incredible support of Riverside, the skill and resources of our team, and the successful completion of 11 add-on acquisitions to Dwyer Group during this second investment have dramatically shaped the trajectory of our growth. We intend to build on our dominant position as a leader in home services helping people repair, maintain and enhance their homes and properties," said Mike Bidwell, President and CEO of Dwyer Group. "We are in the strongest fiscal position with the largest global reach in our company's history. And Harvest brings capital, experience and enthusiasm to support our ambitions for continued growth."
The terms of the deal were not disclosed.
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