Authority Brands, a portfolio company of Apax Partners, has acquired America’s Swimming Pool Company. This is the first add-on acquisition completed by Authority Brands since Apax acquired the business in September 2018 from PNC Riverarch Capital.
America’s Swimming Pool Company (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’s services include pool maintenance, cleaning, inspections, repairs and renovations. ASP was founded by CEO Stewart Vernon in 2002 and is headquartered in Macon, GA (www.asppoolco.com).
“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 Mr. Vernon.
Authority Brands is the parent company of two home services franchisors: The Cleaning Authority, which provides residential cleaning services to over 100,000 customers across the US; and Homewatch CareGivers, which delivers at-home services including elderly, disabled and after-surgery care, as well as help for those living with dementia. The company, led by CEO Rob Weddle, is headquartered in Columbia, MD (www.theauthoritybrands.com) (www.thecleaningauthority.com) (www.homewatchcaregivers.com).
With the addition of ASP, Authority Brands now has more than 550 franchise locations in the United States, Canada and Latin America. “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 Mr. Weddle.
“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.”
Apax invests in the technology and telecom; services; healthcare; and consumer sectors. The firm has eight offices located in London, New York, São Paulo, Munich, Tel Aviv, Mumbai, Hong Kong and Shanghai (www.apax.com).
© 2018 Private Equity Professional | October 23, 2018