The Dwyer Group, parent company to Glass Doctor, has been acquired for the second time by The Riverside Co., a private equity fund with locations in North America, Europe and Asia. The terms of the deal were not disclosed. Riverside first purchased the company in 2003, taking it private and helping The Dwyer Group to expand. After seven years, the firm sold the Waco, Texas-based company to TZP Group in 2010.
This most recent purchase transfers majority ownership from TZP Group back to Riverside and also includes a “significant reinvestment from The Dwyer Group executive team and an investment from each brand president within The Dwyer Group companies,” according to officials.
“We’re extremely excited to welcome The Dwyer Group back to The Riverside Co. and to become involved once again with franchisees and associates dedicated to a strong code of values,” says Sarah Roth, a partner based in Riverside’s Dallas office. “The executive team remains fully committed to the business, and The Dwyer Group service brands are well-positioned for more expansion.”
“The Dwyer transaction has been a very successful one for TZP reflecting the very essence of our firm’s strategy of being the partner of choice for management teams,” says Sam Katz, managing partner for TZP. “We are very proud of our joint achievements in enhancing the franchisee value proposition and initiating exciting online and offline marketing initiatives. We look forward to continuing our relationship with Dina [Dwyer-Owens] and the Dwyer team and watching them continue to succeed at building this special company.”
The entire executive team at The Dwyer Group will remain in place and will work with Riverside to advance the organization to the next level.
The Dwyer Group serves as a holding company for seven residential and commercial franchise service brands. The franchise network includes more than 1,600 franchisees operating in the United States and seven other countries. In addition to its franchise concepts, the company also owns and operates 35 full-service glass stores in Maine, Vermont and New Hampshire. Combined, the service brands account for almost $1 billion in annual system-wide revenues, according to officials.