WACO, Texas – TZP Capital Partners I, L.P., a private equity fund based in New York, has completed its acquisition of The Dwyer Group, Inc., a franchising company of trades service brands. The transaction, valued at $150 million, closed today.
The Dwyer Group serves as a holding company for seven residential and commercial franchise service brands. 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.
“This begins an exciting new chapter for The Dwyer Group as we prepare to celebrate our 30th anniversary in the New Year and the opportunities that await us,” said Dina Dwyer-Owens, chairperson and CEO of The Dwyer Group. “Our partnership with TZP is the perfect collaboration to take our business to the next level, to further support our rapidly expanding franchise family, and to investigate additional franchise concepts to add to our growing company.”
The completed purchase transferred majority ownership from The Riverside Company 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 Companies.
The Dwyer Group’s executive team will remain in place and the company name will not change.