New York private equity firm snaps up Stockport based housekeeping firm
A domestic housekeeping franchise which is based in Stockport has new American owners.
Dwyer Franchising, one of the world’s largest parent companies of home service brands, has announced it has been acquired by Harvest Partners.
Harvest is a New York-based private equity firm.
The deal marks the fourth and largest private equity transaction of Dwyer Group in the franchise organisation’s history. Terms of the deal were not disclosed.
Bright & Beautiful, an award-winning professional domestic housekeeping franchise based in Cheadle, was acquired by Dwyer Group in April 2017 and currently has 56 franchise owners.
In ten years, the managed service-based franchise has created over 500 jobs and delivered more than 500,000 home cleans.
Dwyer Group, headquartered in Waco, Texas, with offices in Banbury and Manchester, serves as the holding company for 20 service brands, with a franchise network including more than 3,200 franchisees operating in the United States, United Kingdom and seven other countries.
The combined businesses offer domestic and commercial customers with a community of professional services and account for approximately £1.3bn in annual revenues.
Harvest Partners, is an established middle-market private equity firm with a 35 year history of investing in companies and partnering with high-quality management teams to support businesses as they continue to grow to the next level.
Harvest’s purchase transfers majority ownership of Dwyer Group from The Riverside Company, a global investment firm that invested in Dwyer Group two separate times – taking the company private in 2003 and reacquiring the company in 2014.
“This acquisition is exciting news for Bright & Beautiful as it will open up many more opportunities for us to grow our network of franchises and clients even further across the UK,” said Sue Moore, Brand President of Bright & Beautiful.
“It will also be great to benefit from Harvest Partners vast expertise and experience in the service sector.”
Bright & Beautiful provide eco-friendly cleaning, tidying, laundry and ironing.
