Waco, Texas–based The Dwyer Group has been acquired by TZP Capital
Partners, a private equity fund based in New
York City. 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 Aire Serve and Mr. Rooter. The franchise network
includes over 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 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.”
