BCI to invest in Authority Brands.

British Columbia Investment, an institutional investor, agreed to invest in Authority Brands, a residential services franchising platform in North America. Apax Partners will retain majority ownership. Financial terms were not disclosed. "We are proud to have partnered with the Authority Brands team to help build, both organically and through strategic acquisitions, a leading residential services franchising platform. We continue to see significant room for growth by Authority Brands and are pleased to join with BCI and members of the leadership team in the next phase of the company's journey as they extend their platform through M&A, and strategic initiatives including franchise development, technology transformation and international expansion," Ashish Karandikar, Apax Partner.