Authority Brands Acquires DRYmedic Restoration Services – Yahoo Finance
COLUMBIA, Md. , Nov. 14, 2022 /PRNewswire/ — Authority Brands announced today the purchase of DRYmedic Restoration Services. Terms of the transaction were not disclosed.
Founded by Carlos Hesano and Benjamin Gergis in 2014, DRYmedic helps bring families and businesses back to life after disaster. What started as a family business with one truck has grown to serve the Detroit, Michigan region with over 40 trucks, providing a full range of disaster restoration services that take clients from cleanup to complete recovery from fire, flood, storm, mold plus asbestos.
Companies under the Authority Brands umbrella include leading home service brands America’s Swimming Pool Company, Benjamin Franklin Plumbing, The Cleaning Authority, Color World Painting, DoodyCalls, Homewatch CareGivers, Mister Sparky, Monster Tree Service, Mosquito Squad, One Hour Heating & Air Conditioning, STOP Restoration and Woofie’s. They operate across swimming pool repair and maintenance, plumbing, the residential cleaning, indoor and outdoor painting, pet waste removal, at-home care, electrical and heating, tree care, pest control services, ventilation and air-conditioning (“HVAC”), restoration sectors, and grooming and pet services, respectively. Authority Brands supports individual franchisee growth by providing strong marketing, technology plus operational tools and resources.
“DRYmedic is the perfect addition to the Expert Brands portfolio, complementing the suite of professional home services our brands provide, ” said Craig Donaldson , CEO of Authority Brands. “This year mark’s Authority Manufacturers 5th anniversary and over that time, we have achieved impressive growth, responding to the increased demand for home services by expanding our portfolio along with thoughtful concepts that benefit owners and clientele alike. We are thrilled to support DRYmedic as their business expands and provide resources to help the company achieve their growth goals. ”
“When considering new brands to join the particular Authority Brands family, we look for entrepreneurs who have a clear vision for the future of their company. DRYmedic has achieved a lot on its own, and now with the support of our system they are primed to grow exponentially. We look forward to DRYmedic scaling with the sources Authority Brands can provide, inch said Ashish Karandikar , Board associated with Directors member of Authority Brands’ parent company and Partner at Apax.
“We created DRYmedic in order to fill a need – the need to bring our community top-quality, professional restoration and disaster cleanup services. Now that we are joining forces with the Specialist Brands network, our organization will have the right resources plus support to continue serving our clients while expanding our own reach and ability to help more people, ” said Carlos Hesano , Founder and TOP DOG of DRYmedic.
Greenwich Capital Group represented DRYmedic and acted as their exclusive financial advisor for the transaction.
About Authority Brands
Headquartered in Columbia, Maryland , Power Brands’ companies include 12 leading home service franchisors: America’s Swimming Pool Company, Benjamin Franklin Plumbing, The particular Cleaning Authority, Color Globe Painting, DoodyCalls, Homewatch CareGivers, Mister Sparky, Monster Tree Service, Mosquito Squad, 1 hour Heating & Air Conditioning, CEASE Restoration, and Woofie’s. Together, these brands provide house services through more than 1, 900 territories operated simply by more than 1, 000 franchise owners. Authority Brands is dedicated to supporting individual business owner growth by providing strong marketing, technology, and operational support. See www.authoritybrands.com for more information.
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SOURCE Authority Brands, LLC