Authority Brands Acquires Clockwork, Inc.
February 21, 2019
Authority Brands, a home-services franchising platform backed by funds advised by Apax Partners, agreed to acquire Clockwork, Inc. and certain affiliates (owner of Benjamin Franklin Plumbing, Mister Sparky and One Hour) from Direct Energy Group (a Centrica plc subsidiary). The add-on deal — expected to close in the first half of 2019 — expands Authority Brands' portfolio and doubles its system revenue to over $1 billion.
- Buyers
- Authority Brands, Apax Partners
- Targets
- Clockwork, Inc.
- Sellers
- Direct Energy Group, Centrica plc
- Platforms
- Authority Brands
- Industry
- Professional Services
- Location
- United States
- Transaction Type
- Addon
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