Private equity firm The Riverside Co. recently acquired The Dwyer Group Inc. for the second time. The Dwyer Group, based in Waco, Texas, is a holding company for seven residential and commercial franchise service brands, including Aire Serv, a heating and cooling brand.
Riverside first purchased The Dwyer Group in 2003, electing to privatize the public company. After seven years of growth, the firm sold The Dwyer Group to TZP Group LLC in 2010. The new Riverside purchase transfers majority ownership from TZP back to Riverside, along with a significant reinvestment from The Dwyer Group executive team, and an investment from each brand president within The Dwyer Group companies.