Acquisitions Span Industry
Clockwork also acquired several plumbing, air conditioning, heating, and electrical franchisees operating in markets across the United States. The acquired companies will operate in their respective markets under the One Hour Air Conditioning & Heating, Benjamin Franklin Plumbing, and Mister Sparky Electrical brands as fully-owned Clockwork retail units.
The newly acquired companies are: Mitchell Heating and Cooling Inc., Avon, Ohio, dba One Hour Heating & Air Conditioning; Climate Select Inc., Rocklin, Calif., dba One Hour Heating & Air Conditioning; Myrtle Beach Heating and Cooling Inc., Myrtle Beach, S.C., dba One Hour Heating & Air Conditioning; Candlelight Heating and Air Inc., Denver, dba One Hour Air Conditioning & Heating; Candlelight Plumbing Inc., Denver, dba Benjamin Franklin Plumbing; and Candlelight Electric Co., Denver, dba Mister Sparky Electrical.
Under terms of the deal, Clockwork is assuming ownership, rights, and use of the acquired companies’ assets, intellectual property, trucks, equipment, and offices. Additional terms were not disclosed.
“These newly acquired companies have done a great job of representing our franchise brands and we are excited about the continued growth of our brands across the country,” said Rebecca Cassel, group president, consumer services.
“The completion of these acquisitions brings us one step closer to achieving our goal of becoming one of the most dominant home services companies in North America. We congratulate these owners and their teams for their hard work and dedication.”
For more information, visit www.clockworkhomeservices.com.
Publication date: 10/08/2007