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TZP Capital Partners to acquire Dwyer Group

Post Time:Dec 09,2010Classify:Industry NewsView:108

Officials at The Dwyer Group Inc., Waco, Texas, a franchising company of trades service brands, announced the company has entered into a definitive agreement to be acquired by an investor group led by TZP Capital Partners I, L.P., a private equity fund based in New York, according to a Dec.8 release. The deal is expected to close by the end of this year.

Valued at approximately $150 million, The Dwyer Group serves as a holding company for seven residential and commercial franchise service brands, including Glass Doctor.The franchise network includes more than 1,500 franchisees operating in the United States 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,” said Sam Katz, managing partner of TZP Group LLC, in the release.“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.”

“We are thrilled about joining forces with TZP Group,” said Dina Dwyer-Owens, chairwoman and CEO of 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.”

The purchase, when complete, will transfer majority ownership from The Riverside Co. 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 Cos.

Harris Williams & Co. acted as the advisor to The Dwyer Group.

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Source: http://www.glassmagazine.com/news-item/retail/tzp-capital-partners-acquire-dwyer-group-107304Author:

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