Oct. 23, 2008: Clockwork Home Services Acquires Hardesty & Crick
October 23, 2008
SARASOTA, Fla., and OKLAHOMA CITY - Clockwork Home Services Inc., an operator of home services franchises, announced that it has acquired Hardesty & Crick LLC. The acquisition expands the reach of Clockwork’s 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 it 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 operates electrical, plumbing, heating, and air conditioning franchises within its portfolio of home services franchises. For more information, visit www.clockworkhomeservices.com.
Publication date: 10/20/2008