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Add-on acquisition Announced Feb 2019 Verified

Authority Brands (Apax) acquires Clockwork for $300M

Relationship map

Relationship map for Authority Brands (Apax) acquires Clockwork for $300Mbacksparent ofApax Partners: Pe FirmAPApax PartnersAuthority Brands: FranchisorAuthority BrandsClockwork Home Services: FranchisorCHClockwork Home Servic…
FranchisorPe Firm

Parties
Acquirer
Authority Brands
Franchisor
Target
Clockwork Home Services
Franchisor
Sponsor
Apax Partners
Pe Firm

Market signals

Summary

Authority Brands bought Clockwork (One Hour HVAC, Benjamin Franklin Plumbing, Mister Sparky; 725+ territories) from Direct Energy for $300M, doubling system revenue past $1B. Value confirmed by primary Centrica PR.

Primary source