Riverside Acquires Drain Doctor
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Riverside Acquires Drain Doctor

drain dr nf1The Dwyer Group, a franchising platform company of The Riverside Company, has acquired Drain Doctor, a franchisor of plumbing services in the UK.  Drain Doctor is the fourth add-on Dwyer and Riverside have completed this year.

Drain Doctor specializes in professional grade plumbing and drainage services to both the residential and commercial end-markets. The company operates through 42 franchisees and is headquartered north of London in Peterborough, UK.  Drain Doctor has held the UK master license to Dwyer’s Mr. Rooter brand since 1993 (www.draindoctor.co.uk).

The Dwyer Group, acquired by Riverside in August 2014, is now the owner of 13 service-based franchise organizations: Aire Serv, Glass Doctor, The Ground Guys, Mr. Appliance, Mr. Electric, Mr. Rooter, Portland Glass, Rainbow International, Five Star Painting, Molly Maid, Mr. Handyman, ProTect Painters, and Drain Doctor.  These brands collectively have more than 2,000 franchises in seven countries.  The Dwyer Group was founded in 1981 and is headquartered in Waco, TX (www.dwyergroup.com).

Riverside and Dwyer plan to drive growth at Drain Doctor by improving franchisee training, increasing marketing, and widening Drain Doctor’s footprint within the UK.   Drain Doctor will also benefit from Dwyer’s development and lead generation efforts.

Meranee Phing nf1“Dwyer has a long history with Drain Doctor and is eager to work even more closely with them,” said Riverside Principal Meranee Phing. “Drain Doctor and its team provide exceptional service across the UK, and this acquisition provides an excellent growth opportunity for both companies.”  Working with Ms. Phing on the transaction for Riverside were Partner Sarah Roth, Senior Associate Jason Fulton, Associate Chase Eckert and Operating Partner Tom Anderson.

Riverside Partner Anne Hayes worked on financing the transaction for this transaction.  Madison Capital, GE Capital, NXT Capital and Ares Capital have agreed to provide the debt needed to acquire Drain Doctor.

Riverside’s franchising investments are led by Industry Sector Head and Origination Principal Jeremy Holland. He is supported by franchising industry veteran and Senior Advisor Steve Siegel.

The Riverside Company invests in and acquires businesses valued at up to $300 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 400 transactions. The firm’s international portfolio includes more than 70 companies. Riverside is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 10-19-15

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