Boxwood Continues to Build Its Successful Track Record Within the Franchise Industry
JUPITER, FL / ACCESSWIRE / September 29, 2022 / Boxwood Partners is pleased to announce that Authority Brands ("the Company"), the premier home service franchisor in North America, has received a strategic growth capital investment from British Columbia Investment Management Corporation ("BCI") and funds advised by Apax Partners LLP ("Apax Funds"), which will retain majority ownership.
Boxwood Partners, a leading boutique middle-market investment bank based in Jupiter, Fla., acted as a sell-side advisor to Authority Brands - a portfolio company of Apax Funds. The financial terms of the deal were not disclosed and the deal is expected to be complete in Q4 2022, subject to customary closing conditions.
"Authority Brands has grown to become an industry leading home services platform," said Ashish Karandikar, Partner at Apax. "Boxwood's expertise in the franchising and residential services segment proved valuable for the transaction, and we are honored to work with BCI and the Authority Brands leadership team to further elevate their growth."
The Authority Brands portfolio consists of leading home service franchise brands, providing homeowners with services from the property line to the roof line. Their companies include 12 leading home service franchisors: America's Swimming Pool Company, Benjamin Franklin Plumbing, The Cleaning Authority, Color World Painting, DoodyCalls, Homewatch CareGivers, Mister Sparky, Monster Tree Service, Mosquito Squad, One Hour Heating and Air Conditioning, STOP Restoration and Woofie's. Together, these brands provide home services through approximately 860 franchise owners across North America.
"Authority Brands has created one of the leading platforms in the home services sector, tripling in size since the creation of the platform through both organic and inorganic growth. We've had several Boxwood clients join the Authority Brands platform in recent years, including Monster Tree Service, STOP Restoration, DoodyCalls and Color World Painting," said J. Patrick Galleher, Managing Partner. "We're excited to follow the growth of the business as the management team partners with BCI and Apax to continue driving growth within the platform."
Boxwood Partners has also been active within the franchisee base of Authority Brands. In 2022, Boxwood advised Altamont Capital Partners on their acquisition of Service Minds, the largest franchisee of Mister Sparky.
"We continue to see significant interest in both franchising and home services as macro trends continue to provide tailwinds to the sector, added Brian Alas, Managing Director of Boxwood Partners. "Authority Brands' continues to invest in platform and focuses on providing a best-in-class experience for both its franchisees and end customers."
About Boxwood Partners
Boxwood Partners, LLC, is a boutique investment bank based in Jupiter, Florida with offices in Richmond, Virginia. Boxwood Partners combines a unique blend of senior-level transaction advisory, business operating experience, and proven process execution skills to give its clients a distinct advantage in the market. The firm's extensive relationships within the global capital and buyer communities (including U.S. and international private equity groups, corporations, and lenders) and other important transaction-related service providers such as consultants, attorneys, and accountants, ensure that the firm's clients receive the attention, service, and results they deserve.
For more information about Boxwood Partners, please visit www.boxwoodpartners.com.
About Authority Brands
Authority Brands is the premier residential services franchising platform providing services from the property line to the roof line. Authority Brands' companies include 12 leading home service franchisors: America's Swimming Pool Company, Benjamin Franklin Plumbing, The Cleaning Authority, Color World Painting, DoodyCalls, Homewatch CareGivers, Mister Sparky, Monster Tree Service, Mosquito Squad, One Hour Heating and Air Conditioning, STOP Restoration and Woofie's. Together, these brands provide home services through approximately 860 franchise owners across North America. Authority Brands, which is headquartered in Columbia, Maryland, is dedicated to supporting individual franchise owner growth with a full suite of marketing, technology, and operational support, allowing them to focus on providing exceptional service to homeowners.
Please visit www.authoritybrands.com for more information.
SOURCE: Boxwood Partners, LLC