WACO (August 18, 2014) The Waco-based Dwyer Group, one of the world’s largest franchising firms, has been acquired by an international global investment firm and employees are sharing in the profits.
The Riverside Company, a private equity fund with locations in North America, Europe and Asia, purchased the Dwyer Group for the second time, according to a news release issued by the Waco-based company on Monday.
Terms of the agreement were not disclosed, but “the deal with the global investment firm renews a collaboration between two growing and successful organizations,” the release said.
The company is sharing $1 million dollars from the transaction with all associates of The Dwyer Group for this important accomplishment, Dwyer Group owner Dina Dwyer-Owens said.
“Every associate (employee) plays a role in making us the attractive company we are today,” Dwyer-Owens said.
The Dwyer Group serves as a holding company for seven residential and commercial franchise service brands and that network includes more than 1,600 franchisees operating in the United States and seven other countries, the release said.
Riverside first purchased The Dwyer Group in 2003, taking the company private and working with company management to accelerate growth through acquisitions of new brands, expanding facilities at corporate headquarters, and aggressive development of existing franchise brands.
After seven years of growth, the firm sold The Dwyer Group to TZP Group LLC in 2010 where the franchise network and its revenues continued to thrive along with the respected profile of the service brands across the U.S. and around the world.
“We’re extremely excited to welcome The Dwyer Group back to The Riverside Company and to become involved once again with franchisees and associates dedicated to a strong Code of Values,” said Sarah Roth, a partner based at The Riverside Company’s Dallas office.
Mike Bidwell, CEO and President of The Dwyer Group, added, “By focusing on our core brands and service to our franchisees, we have enjoyed incredible success that continues to this very day, and that success has been noticed for all the right reasons.”
The entire executive team at The Dwyer Group will remain in place and will work with Riverside to advance the organization to the next level.