Authority Brands acquires America’s Swimming Pool Company
22nd October 2018Apax Authority Brands, LLC announced today the purchase of America’s Swimming Pool Company. Terms of the transaction were not disclosed. The acquisition represents t
Authority Brands, LLC announced today the purchase of America’s Swimming Pool Company. Terms of the transaction were not disclosed. The acquisition represents the first brand addition since Authority Brands was acquired by funds advised by Apax Partners in September 2018.
New York and Columbia, Maryland, 22 October 2018: Authority Brands, LLC announced today the purchase of America’s Swimming Pool Company (“ASP”). Terms of the transaction were not disclosed. The acquisition represents the first brand addition since Authority Brands was acquired by funds advised by Apax Partners in September 2018.
Founded in 2002, ASP is the nation’s largest swimming pool service franchise with over 100 franchise owners operating in more than 350 cities across 21 states. The company provides a number of services to swimming pool owners including pool maintenance, cleaning, inspections, repairs and renovations.
Authority Brands is a leading home services franchising platform and the parent company to The Cleaning Authority (“TCA”) and Homewatch CareGivers (“HWCG”). TCA franchisees provide residential cleaning services to more than 100,000 recurring customers, while HWCG franchisees deliver at-home services including elderly, disabled and after-surgery care, as well as help for those living with dementia.
“Being able to partner with an organization like Authority Brands is a perfect fit for our company, our brand, and most importantly our franchise owners. The outlook for the service sector is very strong, and companies who can align their values and visions will do very well together. Authority Brands brings a wealth of knowledge and industry experience to our company, which will help us continue our growth and long-term objectives”, said Stewart Vernon, Founder and CEO of ASP.
“The addition of ASP furthers the goal of Authority Brands to become the premier franchisor of home services by providing unparalleled opportunities for business owners, and delivering first class services to consumers,” said Rob Weddle, CEO of Authority Brands.
“Apax’s strategy is to help Authority Brands accelerate growth both organically and through acquisition” said Ashish Karandikar, Partner at Apax Partners. “Together, we have identified ASP as a compelling brand that has a natural home in the Authority Brands network. We are delighted to support Authority Brands with this acquisition and welcome the ASP team.”
Authority Brands supports individual franchisee growth by providing strong marketing, technology and operational support. With the addition of ASP, Authority Brands now has more than 550 franchise locations in the United States, Canada and Latin America.
About Authority Brands
Headquartered in Columbia, Maryland, Authority Brands, LLC is the parent company of three leading home service franchisors, The Cleaning Authority, Homewatch CareGivers, and America’s Swimming Pool Company. Together, these brands provide recurring home services through more than 550 franchise locations in the U.S., Canada and Latin America. Authority Brands is dedicated to supporting individual franchisee growth through providing strong marketing, technology and operational support.
About Apax Partners
Apax Partners is a leading global private equity advisory firm. Over its more than 35-year history, Apax Partners has raised and advised funds with aggregate commitments of over $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.
For Authority Brands
Nikki Rode, Fish Consulting | +1 954-893-9150 | firstname.lastname@example.org
For Apax Partners
Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | email@example.com
USA Media: Todd Fogarty, Kekst | +1 212-521 4854 | firstname.lastname@example.org
UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | email@example.com
Notes to Editors:
London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.