Harris Williams & Co. Advises The Dwyer Group in its Sale to TZP Group LLC
Harris Williams & Co. announces the sale of The Dwyer Group Holding Company (Dwyer), a portfolio company of The Riverside Company (Riverside), to TZP Group LLC (TZP) in a transaction valued at approximately $150 million. The transaction closed on December 23, 2010. Harris Williams & Co. acted as the exclusive advisor to Dwyer. The transaction was led by Ned Valentine, Bob Baltimore, Patrick McNulty and Lanre Osinusi from the firm's Richmond office.
Headquartered in Waco, TX, Dwyer serves as a holding company for seven residential and commercial franchise service brands. The company's 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-perated stores account for nearly $800 million in annual system-wide revenues.
Riverside is a global private equity firm focused on acquiring leading small and medium-sized enterprises (with a value of up to $200 million) and partnering with strong management teams to enhance the success of its companies through acquisitions and organic growth. Since its founding in 1988, the firm has invested in 240 transactions with a total enterprise value of $5.4 billion. The firm's portfolio in North America, Europe, and Asia includes 70 companies with approximately 14,000 employees. Riverside offers the resources to complete acquisitions smoothly, thanks to its more than $3.4 billion in assets under management, more than 195 professionals in 19 offices and its longstanding relationships with partner lenders. The firm's investors include the world's leading pension funds, endowments, funds of funds, insurance companies and banks.
Founded in 2007, TZP Group LLC is a private equity firm focused on control investments in business and consumer services companies with enterprise values generally up to $200 million. TZP targets companies with solid historical profitability and sustainable value propositions, and seeks to be a "partner of choice" for business owners and management teams. TZP is focused on business and consumer services verticals where the firm's investment professionals have significant operating and transaction experience. These include: franchising, outsourced business and IT services, travel content and distribution, real estate services, marketing and media services, specialty finance, and consumer health services.