Dwyer Group Acquired by Private Equity Firm
NEW YORK — June 8, 2018 — New York-based private equity investment firm Harvest Partners has made an acquisition investment in the Dwyer Group, which is the leading service company franchiser and owner of multiple service franchise companies including restoration service provider Rainbow International.
Dwyer Group executives, including President and CEO Mike Bidwell, will stay with on as leaders of the company. The sale represents the fourth and largest private equity transaction for Dwyer Group.
“On behalf of Dwyer Group’s board of directors and leadership team, we expect to accelerate our growth and deliver on our strategies at an even-higher level by joining Harvest Partners,” Bidwell said of the transaction. “Their capital, experience and enthusiasm will help Dwyer Group build on our dominant industry position to repair, maintain, and enhance homes and properties and expand our Neighborly platform.”
Harvest Partners Partner Nick Romano echoed Bidwell’s enthusiasm, saying, “Dwyer Group is an exceptional franchise platform with multiple avenues for growth through the Neighborly brand and strategic acquisitions of new service brands. Harvest is excited to work with Mike and his management team in the next stage of their growth.”
Waco, TX-based Dwyer Group is the market leader in the service franchise category focused on offering residential and commercial customers a community of professional services. Dwyer Group supports 20 service brands with a franchise network including more than 3,200 franchisees operating in the United States and eight other countries.
“We are thrilled to partner with Dwyer Group’s management team. They have built an excellent company,” Harvest Partner Steve Eisenstein added. “We look forward to providing additional financial and strategic resources to help them further build their market leadership in the service franchise category.”
Additional terms of the transaction were not disclosed.