Announced
Completed
Financials
Tags
Completed
Private
Acquisition
Consumer Services: Other
residential cleaning
elderly care
United States
Private Equity
Friendly
Single Bidder
Majority
Synopsis
Apax Partners, a private equity firm, completed its acquisition of Authority Brands, a leading North American franchisor of home services, from PNC Riverarch Capital. The financial terms of the transaction were not disclosed. The acquisition by the Apax Funds will help the company accelerate its growth, both organically and through strategic acquisitions, as it looks to expand internationally and offer additional services. It also presents digitization opportunities as Apax intends to leverage its significant experience in this area to help Authority Brands provide enhanced software, digital marketing, and systems to support its franchise partners. Under the terms of the acquisition, Authority Brands’ management team, led by Chief Executive Officer Rob Weddle, will remain in place.
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