Restoration 1 and bluefrog Plumbing + Drain Receive Strategic Investment
WACO, Texas—May 8, 2020—Restoration 1 and bluefrog Plumbing + Drain recently announced a strategic investment by MPK Equity Partners and Princeton Equity Group, according to a press release on Franchising.com. Terms of the deal were not disclosed, but the property restoration company and its sister brand have continued to grow as recession-resistant essential businesses. Restoration 1 currently has nearly 300 locations open and in development across the U.S. In 2017, Restoration 1 and bluefrog Plumbing + Drain joined forces, and the first co-branded franchise locations were awarded to Restoration 1 franchisees in 2019.
“This extraordinary partnership is a testament to the strength of our brands, the industries where we operate, and our confident abilities to take things to the next level in the service trades,” said Gary Findley, CEO of Restoration 1 and bluefrog. “We’ve established an incredible track record for our franchise networks, and MPK and Princeton are outstanding investors to support our aggressive plans for continued growth.”
“We are incredibly excited to partner with Gary Findley and the rest of the management team to build on the solid foundation they have created and to continue to grow both companies,” said Doug Kennealey, managing partner of MPK and Princeton. “Our focus will be to continue serving both R1 and bluefrog customers and franchisees to allow them to strengthen and elevate the performance of their businesses.”
As a fast-growing franchise, Restoration 1 has been featured on Entrepreneur’s annual Franchise 500 ranking and fastest-growing franchises, the Franchise Times 2019 Fast & Serious awards and Top 200 list, the Inc. 5,000 list and Franchise Dictionary Magazine’s 2019 Game Changers award. According to the release, the investment thesis includes plans to further grow the company’s portfolio by building or acquiring other relevant home services brands.
Founded in 2008, Restoration 1 specializes in a wide array of emergency mitigations, restoration, and reconstruction services for both residential and commercial properties that have been damaged due to water, smoke, fire, mold, storms, and more. There are nearly 300 locations open and in development throughout the U.S. with plans to expand to more than 500 locations nationwide in the next three years. For more information about Restoration 1, visit https://www.restoration1.com. For information about opening a Restoration 1 franchise, visit restoration1franchise.com.
Founded in 2014, bluefrog Plumbing + Drain has been recognized as a trusted name in plumbing repair and installation for years. The Texas-based company has a focus on helping each franchise partner build profitable fleet of service vehicles in their local markets bluefrog’s franchise partners are supported by an executive team with decades of experience in both the plumbing and franchise industries. For more information, visit https://www.bluefrogplumbing.com/.