Franchise company the Dwyer Group has been purchased by private equity firm the Riverside Co.
Terms were not disclosed.
The Waco, Texas-based Dwyer Group is a holding company for seven residential and commercial franchises, including Mr. Electric, Mr. Rooter, the Grounds Guys and HVAC sales service brand Air Serv. Worldwide, the Dwyer Group’s network includes 1,600 franchisees and accounts for almost $1 billion in revenue, officials say.
This is the second time Riverside has purchased the Dwyer Group. It purchased the company in 2003 and expanded operations before selling it to TZP Group in 2010.