The Dwyer Group, a franchising platform company of The Riverside Company, has completed the add-on acquisition of Countrywide Grounds Maintenance, a provider of commercial groundskeeping services in the UK. This is the 10th add-on acquisition Riverside has completed for Dwyer Group, which recently reached $1.5 billion in system-wide sales, and the second add-on acquisition in as many months.
Countrywide Grounds Maintenance offers commercial grass cutting, landscape maintenance, sports grounds maintenance and winter services (salting and snow removal). The company was founded in 1985 by Martin Stott and has more than 50 franchisees that maintain thousands of sites for customers across the UK. The company is based south of Manchester in Cheadle Hulme, UK (www.countrywidegrounds.com).
The Dwyer Group, acquired by Riverside in August 2014, is now the owner of 16 service-based franchise organizations: Aire Serv, Glass Doctor, The Grounds Guys, Five Star Painting, Molly Maid, Mr. Appliance, Mr. Electric, Mr. Handyman, Mr. Rooter, ProTect Painters, Rainbow International, Locatec, Window Genie, Neighborly, Bright & Beautiful, and Countrywide Grounds Maintenance. These brands collectively have more than 2,700 franchises throughout North America, UK and Germany. The Dwyer Group was founded in 1981 and is headquartered in Waco, TX (www.dwyergroup.com).
“Countrywide is a proven success story that expands Dwyer’s footprint and service offerings in the UK,” said Riverside Managing Partner Suzy Kriscunas. “This opens new avenues with customers and prospects while delivering cross-selling opportunities for franchisees.”
Dwyer continues to diversify its suite of service concepts, and remains an active acquirer. “We have an exceptional platform in Dwyer, and we’re eager to keep supporting Dwyer and its more than 2,700 franchises globally,” said Riverside Vice President Jason Fulton.
Working with Ms. Kriscunas and Mr. Fulton on the transaction for Riverside were Partner Sarah Roth, Senior Associate Chase Eckert, Associate Ryan Collins, Associate Connor Ryan and Operating Partner Tom Anderson.
Madison Capital, GE Capital, NXT Capital, NewStar Financial, Midcap Financial and Ares Capital provided financing for the transaction.
The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 460 transactions. The firm’s international portfolio includes more than 80 companies. The firm is headquartered in New York with 16 additional US and international offices (www.riversidecompany.com).
© 2017 Private Equity Professional | May 3, 2017