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INDUSTRY NEWS
WACO, TEXAS —The Dwyer Group Inc., one of the world’s largest fran- chising companies of trades service brands, was acquired by an investor group led by TZP Capital Partners I, L.P., a private equity fund based in New York. Valued at approximately $150 mil-
lion, The Dwyer Group is based in Waco, and serves as a holding com- pany for seven residential and com- mercial franchise service brands. The franchise network includes more than 1,500 franchisees operating in the U.S. and seven other countries. In ad- dition to its franchise concepts, Dwyer also owns and operates 37 full-service glass stores in Maine, Vermont and New Hampshire. Dwyer’s franchisees, along with its company-operated stores, account for nearly $800 million in annual system- wide revenues. “We’re extremely excited to wel-
come The Dwyer Group to the TZP family and to become involved with a group of franchisees and associates dedicated to a unique code of val- ues,” said Sam Katz, managing part- ner of TZP Group LLC. “As a leader in the service industry, The Dwyer Group’s brands complete more than two million service calls a year and are well positioned for expansion. Equally important to our investment philosophy and our support for grow- ing companies, Dwyer’s executives remain fully committed to the busi- ness. Dwyer is the perfect comple- ment to our portfolio.” Dina Dwyer-Owens, chairwoman
and CEO of The Dwyer Group, will remain in place, along with the entire executive team. She commented: “We are thrilled about joining forces with TZP Group. We’re incredibly proud of the job our team has done to grow The Dwyer Group year after year. And the opportunity exists to do even more. TZP will be a strong part- ner and will be a big help in getting us to that next level. Together we have ambitious goals for the support
and expansion of our growing net- work and the common interest in finding complementary businesses to add to our franchise lineup.” The purchase will transfer majority ownership from The Riverside Com- pany to TZP, along with a significant reinvestment from The Dwyer Group executive team and a new investment from each brand president within The Dwyer group of companies. Calling The Riverside Company a
•THE WHOLESALER® — MARCH 2011 The Dwyer Group Inc. acquired by private equity fund
tremendous partner for The Dwyer Group over the years, Dwyer-Owens says the successful relationship set the stage for the next bold step for- ward with a private equity investor. Visit
www.tzpgroup.com or www
.dwyergroup.com.
Multistack earns California OSHPD pre- approval certification
SPARTA, WIS. — Multistack® has re-
Front row, left to right: Dina Dwyer-Owens, CEO and chairperson of The Dwyer Group and Sam Katz, managing partner of TZP Group. Back row, left to right: Mike Bidwell, COO and president of The Dwyer Group; Nathan Chan- drasekaran, vice president of TZP Group; Duke Johnston, general counsel and vice president of legal and governmental affairs of The Dwyer Group; Debbie Wright-Hood, chief administrative officer of The Dwyer Group; Vladimir Gutin, senior partner of TZP Group; Robert Tunmire, executive vice president of The Dwyer Group and Tom Buckley, CFO and treasurer of The Dwyer Group.
The Internet fosters strong relationships with customers
(Continued from page 160.)
overseeing training and helping with product development as we move forward. It’s an exciting time and we’re well positioned.” Of course, the economy plays a
role in how much consumers are will- ing to invest in upgrading their water heating systems, so that has slightly tempered the growth in the arena in the last few years. However, Carnevale is confident that plateau is only temporary. “We have seen a pick up in sales of
more moderately priced products,” he said. “We’ll see that shift toward some of the emerging technologies as the market improves. We want to pro- vide solutions to our customers at every price point and for applications of all sizes and requirements. While
we are launching an increased focus on tankless, we realize it is not right for every application, so we want to provide the widest possible variety of solutions.”
The power of the World Wide Web “The Internet has been valuable in
getting the right information out about tankless technology,” Morales noted. “It has helped encourage many consumers and contractors to look more closely at the technology. I’ve found its been very helpful in build- ing relationships because consumers come to contractors with questions, and contractors help them understand the benefits and whether it is the right choice for their application. This builds trust and helps contractors grow their business.”
• Be sure to visit
www.thewholesaler.com for web exclusive articles and videos! • And continuing to stay true to their
wholesaler-only distribution philoso- phy, Carnevale was adamant about the role that wholesalers play in Bradford White’s success. “Wholesalers are very important to
our business, and to our push into the tankless market,” he said. “Their role is even more critical going forward. One of the things we are always con- cerned about when it comes to our product development is how it will affect our wholesalers; we don’t want to overwhelm them by having to in- ventory too many models, but yet we want to give them the breadth of product they need to service their customers. It’s a fine balance. “As manufacturers, we also sup-
port our wholesalers by working with the gas companies to educate them on the type of incentive that is appropri- ate for our units, and also let them know which local wholesalers offer our products. This creates opportuni-
ceived pre-approval certification for its MS modular chillers from the Califor- nia Office of Statewide Health Plan- ning and Development (OSHPD). Units that have passed the rigorous testing procedure include the MS10X, MS15X, MS20X, MS30X, MS50X, MS70X, MS105X, MS135X, MS 145X, MS165X and the MS80T. By achieving this certification, MS modular water-cooled chillers are in compliance with ASCE 7-05 Chapter 13, assuring safety and security for patients and employees. The testing involved in meeting these standards is considered to be the most rigorous in the U.S. and is viewed by many as the default standard for products used in healthcare, educational and civic institutions. Multistack president and CEO
Mark Platt said, "The completion of the OSHPD certification process is in line with the continual investment we make in our product offerings. It's what our customers expect of us, and it's what they deserve." Visit
www.multistack.com.
ties for everyone involved. As we see the market evolving, we don’t see these new products going through the retail channel.” With the number of vendors and
wide variety of tankless water heating options increasing, it will mean that the competition for customers’ atten- tion will be high. However, Carnevale likes to put a very positive spin on it: “I think having more tank- less players in the industry will work very positively to increase the interest and education level among contrac- tors, wholesalers and consumers. While the concept is becoming more well known, many people still don’t know how these products work, and the benefits consumers will realize. Bradford White is ready and very ac- tively providing education and train- ing in the tankless category for the benefit of all our partners.” For additional information, visit
www.bradfordwhite.com.
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