Add-on acquisition · Closed May 2019 Verified
Authority Brands (Apax-backed) acquires Clockwork Inc. from Direct Energy
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Figures marked reported are drawn from a single or secondary source and are not independently confirmed. All figures are presented as reported, see Methodology.
Summary
Authority Brands, a home services franchising platform backed by funds advised by Apax Partners, acquired Clockwork Inc. (Benjamin Franklin Plumbing, One Hour Heating & Air, Mister Sparky Electric) from Direct Energy. The deal brings Authority Brands to seven brands and doubles system revenue to over $1 billion.