HVAC Breaking News

Dec. 14, 2010: Dwyer Group to be Acquired by TZP Capital Partners I

December 14, 2010
/ Print / Reprints /
ShareMore
/ Text Size+

WACO, Texas - The Dwyer Group Inc., one of the largest franchising companies of trades service brands, announced that it has entered into a definitive agreement to be acquired by an investor group led by TZP Capital Partners I L.P., a private equity fund based in New York. The deal is expected to close by the end of this year.

Valued at approximately $150 million, the Dwyer Group is based in Waco, Texas, and serves as a holding company for seven residential and commercial franchise service brands, including Aire Serv Heating and Air Conditioning. The franchise network includes over 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.

“We’re extremely excited to welcome the Dwyer Group to the TZP family and become involved with a group of franchisees and associates dedicated to a unique code of values,” said Sam Katz, managing partner of TZP Group LLC. “As a leader in the service industry, the Dwyer Group’s brands complete over two million service calls a year and are well positioned for expansion. Equally important to our investment philosophy and our support for growing companies, Dwyer’s executives remain fully committed to the business. Dwyer is the perfect complement to our portfolio.”

“We are thrilled about joining forces with TZP Group,” said Dina Dwyer-Owens, chairwoman and CEO of the Dwyer Group, who will remain in place along with the entire executive team. “We’re incredibly proud of the job our team has done to grow the Dwyer Group year after year. And the opportunity exists to do even more. TZP will be a strong partner and will be a big help in getting us to that next level. Together we have ambitious goals for the support and expansion of our growing network, and the common interest to find complementary businesses to add to our franchise lineup.”

The purchase, when complete, will transfer 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. Calling the Riverside Company a tremendous partner for the Dwyer Group over the years, Dwyer-Owens said the successful relationship set the stage for the next step forward with a private equity investor.

For more information about TZP Group LLC, visit www.tzpgroup.com. For more information on the Dwyer Group, visit www.dwyergroup.com.

Publication date: 12/13/2010

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 Energy Efficiency Forum

Highlights from the 25th annual Energy Efficiency Forum in Washington, D.C.

Podcasts

NEWSMakers: Rajan Rajendran

Rajan Rajendran, newly appointed director of the Emerson Innovation Center, talks about the new $35 million facility and how it will function on the University of Dayton campus. Posted on Aug. 29.

More Podcasts

ACHRNEWS

NEWS 08-25-14 cover

2014 August 25

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Prohibiting HFCs

EPA is proposing a rule that would prohibit some HFCs in select refrigeration applications. Do you agree with this move?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con