Riverside Strategic Capital Fund, Harvest Partners Structured Capital Fund Provide Capital to Franchise Company
The Riverside Company’s Strategic Capital Fund (RSCF) and Harvest Partners Structured Capital Fund (Harvest SCF) have made a structured equity investment in Dwyer Group (Dwyer) in support of the acquisition of the company by Harvest Partners control private equity fund (Harvest).
Dwyer supports a growing cadre of more than 3,200 franchisees representing 20 service brands in the U.S. and Europe.
“We obviously know Dwyer very well given Riverside’s majority ownership of the business from 2003-2010 and from 2014 until Harvest’s recent investment, which made this investment an easy decision,” said RSCF Partner Jeffrey Gordon. “We deeply respect the management team, and we see many ways that Dwyer can continue its remarkable growth trajectory. We’re thrilled to have another chance to work with this great company.”
Dwyer’s proven model of offering an array of premium trade-service brands that meet virtually any homeowner need remains compelling and laden with opportunity.
Dwyer’s Neighborly program unifies the company’s brands under a single umbrella, providing customers with a single reference point for all of their service and light commercial needs.
“We’re delighted with Dwyer’s strong platform for growth and sophisticated marketing engine,” said Harvest SCF Partner and Co-Head Sean Murphy. “We know the company has the talent, systems and infrastructure to accelerate growth organically and through additional M&A.”
Nick Romano, Partner at Harvest, added, “Having RSCF and Harvest SCF involved in the transaction will provide strong support for Dwyer’s continued growth through strategic acquisitions of new service brands.”
Working with Jeffrey Gordon at Riverside on the investment was Senior Associate Elena Laird. Vice President Chris Schaller worked with Sean Murphy on the transaction for Harvest SCF.
The Riverside Company is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 530 transactions. The firm’s international portfolio includes more than 80 companies. (http://www.riversidecompany.com or http://www.riversideeurope.com).
Harvest Partners SCF (www.hp-scf.com) is a non-control private equity investor. Harvest Partners SCF was founded in 2014 and is led by an experienced team of investment professionals who have, collectively, more than 50 years of private equity investment experience. Harvest Partners SCF provides flexible, non-control equity solutions to business owners and private equity firms that need capital for growth, liquidity, new platform investments or transformative acquisitions.
Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm that pursues management buyouts and recapitalizations of middle market companies in North America. Harvest focuses on acquiring profitable companies in the business services, consumer, healthcare services, and industrial sectors. This strategy leverages Harvest Partners’ 35+ years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit www.harvestpartners.com.
Founded in 1981 and based in Waco, Texas, Dwyer is a holding company of 20 service brands, which support franchise organizations under the umbrella brand Neighborly in the United States and Neighbourly in Canada. Neighborly® is a community of experts who repair, maintain and enhance properties united under one platform to better meet the needs of today’s consumer. Collectively, these concepts offer customers a broad base of residential and commercial services. More information about Neighborly/Neighbourly, and its franchise concepts, is available at www.getneighborly.com and www.getneighbourly.ca, respectively. Learn more about Dwyer at www.dwyergroup.com.