Webster Capital put a portfolio company, Premium Franchise Brands, up for sale, a source familiar with the transaction said.
Harris Williams is advising on the auction, the source said.
Premium Franchise, Alpharetta, Georgia, provides commercial and residential cleaning through a franchise model. It’s composed of two companies: Jan-Pro and Maid Right.
Webster Capital led an investor group to buy Jan-Pro, a franchiser of commercial cleaning services, in 2008. In 2013, Premium Franchise launched Maid Right, a franchiser of residential cleaning services.
The company produces $11 million of EBITDA, the source said. Premium Franchise is seeking bids of 10x to 12x, the source said.
Several private equity firms have invested in cleaning services.
In June, Sterling Group bought two industrial cleaning companies, North American Industrial Services and Evergreen Industrial Services.
Solace Capital and Angeleno Group invested in Patriot Environmental Services in April.
Clayton, Dubilier & Rice acquired ServiceMaster for about $5.5 billion in 2007. ServiceMaster, which provides home cleaning as well as lawn care and termite protection, went public in 2014. CD&R no longer owns a stake, according to an SEC filing.
Based in Waltham, Massachusetts, Webster Capital invests in middle-market consumer and healthcare companies with EBITDA of $3 million to $15 million.
Premium Franchise and Harris Williams could not be reached for comment.
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