Harris Williams advises Authority Brands on its pending sale to British Columbia Investment Management Corporation and funds advised by Apax
RICHMOND, Virginia, September 21, 2022–(BUSINESS WIRE)–Harris Williams, a global investment bank specializing in M&A advisory services, announces that it is advising Authority Brands, a portfolio company of Apax Partners LLP (Apax), in its ongoing sale to British Columbia Investment Management Corporation (BCI) alongside the funds advised by Apax (Apax Funds), which will retain the majority. Authority Brands is the leading franchisor of home services in North America. The transaction is being led by consumer group Harris Williams, including Brent Spiller, Beau Pierce, Trey Shehan and Anya Bahros.
“We have a long-standing relationship with Authority Brands and are delighted to work with them again. It has been remarkable to see the company more than triple in size under Apax ownership and establish itself as a platform best-in-class franchise in the residential services market,” said Brent Spiller, Managing Director of Harris Williams.
“Authority Brands represents another landmark transaction for Harris Williams in the residential services and franchise sectors. We continue to see investor interest in these areas due to strong fundamental demand, increased focus on ‘home improvement and the ability to create a ladder platform.’ said Beau Pierce, director at Harris Williams.
Authority Brands is the premier residential services franchise platform providing services from the property line to the roofline. Authority Brands companies include 12 leading home service franchisors: 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 and Air Conditioning, STOP Restauration, and Woofie’s. Together, these brands provide in-home services through approximately 860 franchise owners in North America. Authority Brands, headquartered in Columbia, MD, is dedicated to supporting the growth of individual franchise owners with a full range of marketing, technology and operational support, allowing them to focus on delivering… exceptional service to the owners.
Apax is a world leader in private equity advisory. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with total commitments of over $60 billion. Apax funds invest in companies from four global sectors of internet/consumer, technology, services and healthcare. These funds provide long-term equity financing to build and strengthen world-class businesses. Apax is authorized and regulated by the Financial Conduct Authority in the UK
BCI is one of Canada’s largest institutional investors with C$211.1 billion under management as of March 31, 2022. Headquartered in Victoria, BC, with offices in Vancouver, BC and New York , BCI invests in: fixed income securities and private debt; public and private capital; infrastructure and renewable resources; as well as real estate stocks and real estate debt through its independent platform company QuadReal Property Group. With its global perspective, BCI seeks investment opportunities that convert savings into productive capital that will meet the risk and return requirements of its clients over time.
BCI’s private equity program actively manages a C$24.8 billion global portfolio of private companies and funds with long-term growth potential. Leverage its sector teams in business services; consumer; financial services; Health care; industrial; and technology, media and telecommunications, BCI works with strategic private equity partners to source and manage direct and co-sponsor/co-investment opportunities.
Harris Williams, an investment bank specializing in M&A advisory services, defends sellers and buyers of businesses around the world through critical stages and provides expert advice throughout the life of their businesses . By collaborating as one company across industry groups and geographies, the company helps its clients achieve results that support their goals and strategically create value. Harris Williams is committed to excellence in execution and to building lasting and valuable relationships based on mutual trust. Harris Williams is a subsidiary of PNC Financial Services Group, Inc. (NYSE: PNC).
Consumer group Harris Williams has completed transactions in various verticals, including food, beverage and agribusiness; branded consumer products; consumer services; and catering and retail. For more information about the Harris Williams Consumer Group and recent transactions, visit the Consumer Group section of the Harris Williams website.
Harris Williams LLC is a registered broker and member of FINRA and SIPC. Harris Williams & Co. Ltd is a limited company incorporated under the laws of England with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, United Kingdom, registered with the Registrar of Companies for England and Wales (registration number registration 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court in Frankfurt am Main, Germany under number HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main. -le-Main, Germany (e-mail address: [email protected]). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT number DE321666994). Harris Williams is a trading name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH operate.
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