The Dwyer Group, Inc., Waco, TX, one of the world's largest franchising companies of trades service brands, believes it can get an even stronger foothold in brand franchising, with its definitive agreement to be acquired by an investor group led by TZP Capital Partners I, L.P., NY, NY, a private equity fund.
Valued at approximately $150 million, The Dwyer Group is based in Waco, TX. It serves as a holding company for seven residential and commercial franchise service brands. Those brands are: AireServe; Glass Doctor; The Grounds Guys; Mr. Appliance; Mr. Electric; Mr. Rooter; Portland Glass; and Rainbow International.
The Group's franchise network includes more 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 and 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," says Sam Katz, managing partner, 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. Dwyer is the perfect complement to our portfolio." Katz says.
"We're thrilled about joining forces with TZP Group," says Dina Dwyer-Owens, Chairwoman and CEO, The Dwyer Group, who will remain in place along with the entire executive team. "We're incredibly proud of the job our team has done to grow The Dwyer Group year after year. And the opportunity exists to do even more. TZP will be a strong partner, and will be a big help in getting us to that next level. Together, we have ambitious goals for the support and expansion of our growing network, and the common interest to find complementary businesses to add to our franchise lineup," Dwyer-Owens says.