Apax Partners completed the acquisition of Authority Brands from PNC Riverarch Capital.

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.