The Dwyer Group Inc, a portfolio company of U.S. private equity firm The Riverside Company, recently acquired Five Star Painting for an undisclosed amount. Founded in Edmonton in 2004, Five Star is a commercial and residential painting franchise with 77 locations across North America. The company opened its first franchise in Canada in 2005, according to Five Star’s website. Based in Waco, Texas, Dwyer is a holding company of franchise businesses. It was bought for the second time by Riverside in August 2014.
The Dwyer Group Acquires Five Star Painting Franchise
WACO, Texas (January 5, 2015) — The Dwyer Group, Inc., one of the world’s largest franchising companies of trade service brands, has acquired Five Star Painting, a commercial and residential painting franchise with 77 locations across the U.S. and Canada, effective immediately. Terms of the deal were not disclosed.
“We’re very excited to welcome Five Star Painting to The Dwyer Group,” said Mike Bidwell, CEO and President of The Dwyer Group. “This addition delivers both a compelling business opportunity for future franchise prospects as well as a complimentary trade that fits our overall portfolio of service brands.”
Five Star Painting was founded in Edmonton, Canada in 2004. The company began franchising in 2005 and later relocated headquarters to Spanish Fork, Utah. Over the following years, the brand has become one of the fastest-growing painting franchises in North America. Bidwell credits that growth along with Five Star Painting’s strong company values of quality, affordability, expertise, recognition and integrity for making the business an attractive acquisition for The Dwyer Group. Five Star should harmonize nicely with Dwyer’s own highly-regarded Code of Values.
Under the new agreement, Five Star Painting will transition company operations and key staff members from Utah to The Dwyer Group headquarters in Waco, Texas. Matt Phillips, the President of Five Star Painting, will assume the new role of Chief Operating Officer. Mary Kay Liston, who previously served as Vice President of Operations for Mr. Appliance at The Dwyer Group, has been named President for Five Star Painting.
“The franchise is enjoying some good momentum and we look forward to accelerating that success through strong franchisee support, and aggressive franchise development to new markets across the country,” Bidwell said. He expects Five Star will quickly become one of their fastest-growing brands.
Bidwell said Five Star Painting will answer desires from franchise prospects seeking an opportunity with lower capital requirements and less of the technical skills required of other service brands at The Dwyer Group.
Five Star Painting becomes the eighth service brand for The Dwyer Group, a holding company representing a network of more than 1,600 franchisees operating in the United States and seven other countries.
About The Dwyer Group, Inc.®:
The Dwyer Group, Inc., based in Waco, Texas, is a holding company of eight franchise businesses, each selling and supporting a different franchise under the following service marks: Aire Serv®, Glass Doctor®, The Grounds Guys®, Five Star Painting®, Mr. Appliance®, Mr. Electric®, Mr. Rooter® (Drain Doctor® in the UK and Portugal), and Rainbow International®. Collectively, these independent franchise concepts offer customers worldwide a broad base of residential and commercial services. In addition, The Dwyer Group® operates glass shops in New England under the Portland Glass® brand name. The Dwyer Group is a portfolio company of The Riverside Company®, a global private equity firm. The firm’s international portfolio includes more than 75 companies. More information on The Dwyer Group, or its franchise concepts, is available at www.dwyergroup.com.
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