Authority Brands, a portfolio company of PNC Riverarch Capital, has acquired Homewatch International. No financial terms were disclosed. Livingstone served as financial adviser to Homewatch International on the deal. Based in Denver, Homewatch International is a franchisor of Homewatch CareGivers, a home care provider that has more than 200 franchise locations in seven countries. Authority Brands is the parent company of The Cleaning Authority, a residential cleaning franchise.
COLUMBIA, MD (PRWEB) SEPTEMBER 14, 2017
Denver-based Homewatch International, franchisor of Homewatch CareGivers, has been acquired by Authority Brands, LLC. Homewatch CareGivers is a premier provider of home care for people of all ages and has more than 200 franchise locations in seven countries.
Authority Brands is also the parent company of The Cleaning Authority, LLC, one of North America’s leading residential cleaning franchises with more than 215 franchise locations. This acquisition represents the first step in the development of Authority Brands as a multi-brand, in-home service franchise organization.
“We have explored a variety of additional concepts to add to the Authority Brands family,” said Rob Weddle, president and chief executive officer of The Cleaning Authority and Authority Brands. “Homewatch CareGivers has established itself as an innovator in the rapidly growing senior care segment and will align with the successful franchise system we’ve built in The Cleaning Authority.”
The investment in Homewatch CareGivers was based on many factors, including the company’s personalized care philosophy, the organizational commitment to the people they work with and care for, as well as the foundation that exists within the brand for accelerated growth.
“In Authority Brands we have found a partner that brings exceptional business experience that will truly elevate our brand and further our mission of providing quality in home care internationally,” said Julie R. Smith, chief executive officer of Homewatch International. “This acquisition will take Homewatch International to the next phase of growth as we endeavor to improve our market share and strengthen our position within the continuum of care.”
With the acquisition of Homewatch CareGivers, Authority Brands is focused on growth for both of its franchisors through continued development of new franchise territories, as well as support of existing franchise locations in marketing, operations and technology.
“This acquisition is a key step in building Authority Brands as a strong multi-brand franchisor,” Weddle said. “It provides pivotal momentum for both The Cleaning Authority and Homewatch CareGivers to grow together with additional resources for success.”
Authority Brands is a portfolio company of PNC Riverarch Capital.
About Homewatch CareGivers
Founded in 1980, Homewatch CareGivers delivers a variety of person-directed, professional at-home services including elder care, care for individuals with developmental and physical conditions, after-surgery care and help for those living with dementia.
With a significant leadership presence at the national level through Home Care Association of America (HCAOA) and the National Quality Forum, the Homewatch CareGivers mission is to provide best-in-class care, to serve as a vital part of the continuum of care, and to provide the support franchisees and caregivers need to find success and make a difference in their communities.
About Authority Brands
Headquartered in Columbia, Maryland, Authority Brands, LLC is the parent company of two leading home service franchisors, The Cleaning Authority and Homewatch CareGivers. Together, these brands provide recurring home services through more than 300 franchise locations in the U.S., Canada and Latin America. Authority Brands is dedicated to supporting individual franchisee growth through providing strong marketing, technology and operational support.
About PNC Riverarch Capital
PNC Riverarch Capital is a middle-market private equity firm that invests in privately-held companies headquartered throughout North America. Their investment philosophy is rooted in the belief that building great companies requires a long-term view and a flexible investment strategy. They invest across a variety of industry sectors, including value-added distribution, specialized manufacturing, business and industrial services, software, and tech-enabled services. PNC Riverarch Capital is an affiliate of The PNC Financial Services Group, Inc. and represents PNC’s continued dedication to serving the middle-market. Since 1982, PNC Riverarch and its predecessors have provided equity capital to over 100 companies.