Waco, Texas–based The Dwyer Group has been acquired by TZP Capital Partners, a private equity fund based in New York City. The deal is expected to close by the end of this year.

Valued at approximately $150 million, The Dwyer Group serves as a holding company for seven residential and commercial franchise service brands, including Aire Serve and Mr. Rooter. 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 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.”