ACHRNEWS

Clockwork Expands in Oklahoma City

December 8, 2008

Clockwork Home Services Inc. announced that it has acquired Hardesty & Crick LLC. The acquisition expands the reach of Clockwork’s home services in the Oklahoma City area.

Hardesty & Crick, based in Oklahoma City, had 2007 revenue of $3.2 million and has 2008 projected revenue of $3.4 million. Post-acquisition, the company will operate as a fully-owned unit of Clockwork Home Services and will be managed by Deryk Ruth. As part of the agreement, the franchise will operate under the name of Hardesty Team’s One Hour Air Conditioning & Heating for a transitional period and will then be branded as One Hour Air Conditioning & Heating.

Under terms of the deal, Clockwork is assuming ownership, rights, and use of the company’s assets, intellectual property, trucks, equipment, and offices. Prior management and employees will remain at the company as Clockwork employees. Additional terms were not disclosed.

“Clockwork is committed to growing its franchise brands in key markets across the United States and in Canada,” said Jim Abrams, CEO, Clockwork Home Services. “By acquiring profitable, well-managed home services companies, Clockwork is further expanding its residential customer base and building brand loyalty through our dedication to customer service.”

Clockwork currently operates electrical, plumbing, heating and air conditioning franchises within its portfolio of home services franchises.

Publication date: 12/08/2008