Harris Williams Advises Authority Brands on its Pending Sale to British Columbia Investment Management Corporation and Funds Advised by Apax

RICHMOND, Va., September 21, 2022–(BUSINESS WIRE)–Harris Williams, a global investment bank specializing in M&A advisory services, announces that it has advised Authority Brands, a portfolio company of Apax Partners LLP (Apax), on its pending sale to British Columbia Investment Management Corporation ( BCI) along with funds advised by Apax (Apax Funds) who will retain majority ownership. Authority Brands is the leading home services franchisor in North America. The transaction will be led by Harris Williams Consumer Group, including Brent Spiller, Beau Pierce, Trey Shehan and Anya Bahros.

“We have a longstanding relationship with Authority Brands and are delighted to be working with them again. It has been remarkable to see the company more than triple in size under Apax’s ownership and establish itself as a premier franchising platform in the residential services market,” said Brent Spiller, Managing Director at Harris Williams.

“Authority Brands represents another marquee transaction for Harris Williams in the residential services and franchising sectors. We continue to see investor interest in these areas due to strong fundamental demand drivers, an increased focus on home improvement and the opportunity to create a platform of scale .” said Beau Pierce, a director at Harris Williams.

Authority Brands is the leading residential services franchising platform, providing services from the lot line to the roof line. Authority Brands businesses include 12 leading home service franchisors: America’s Swimming Pool Company, Benjamin Franklin Plumbing, The Cleaning Authority, Color World Painting, DoodyCalls, Homewatch CareGivers, Mister Sparky, Monster Tree Service, Mosquito Squad, One Hour Heating and Air Conditioning, STOP Restoration and Woofie’s. Together, these brands provide home services through approximately 860 franchisees throughout North America. Authority Brands, headquartered in Columbia, Maryland, is dedicated to supporting the growth of individual franchise owners with a comprehensive range of marketing, technology and operational support so they can focus on providing homeowners with exceptional service Offer.

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Apax is a leading global private equity advisory firm. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with total commitments in excess of $60 billion. The Apax Funds invest in companies across four global sectors: Internet/Consumer, Technology, Services and Healthcare. These funds provide long-term equity financing to build and strengthen world-class companies. Apax is authorized and regulated by the Financial Conduct Authority in the UK

BCI is one of Canada’s largest institutional investors with $211.1 billion in assets under management as of March 31, 2022. Based in Victoria, British Columbia with offices in Vancouver, British Columbia and New York City, BCI invests in: fixed income and personal debt; public and private equity; infrastructure and renewable resources; and real estate equities and real estate debt through its independently operated platform company, QuadReal Property Group. With a global focus, BCI seeks investment opportunities that convert savings into productive capital that meets its clients’ risk and return requirements over time.

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BCI’s private equity program actively manages a $24.8 billion global portfolio of privately held companies and funds with long-term growth potential. leveraging its industry-focused teams in business services; Consumer; financial services; health care; Industry; and technology, media and telecom, BCI works with strategic private equity partners to source and manage direct and co-sponsored/co-investment opportunities.

Harris Williams, an investment bank specializing in M&A advisory services, represents sellers and buyers of companies worldwide at critical milestones and provides thoughtful advice throughout the life of their company. By working together as one company across industry groups and geographies, the company helps its clients achieve outcomes that support their goals and strategically create value. Harris Williams is committed to excellence in execution and building lasting, valued relationships built on mutual trust. Harris Williams is a subsidiary of PNC Financial Services Group, Inc. (NYSE: PNC).

Harris Williams Consumer Group has completed transactions in a variety of industries, including food, beverage and agribusiness; branded consumer products; consumer services; as well as restaurants and retail. For more information about Harris Williams Consumer Group and recent transactions, please visit the Consumer Group section of Harris Williams’ website.

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Harris Williams LLC is a Registered Broker Dealer and a member of FINRA and SIPC. Harris Williams & Co. Ltd is a limited company incorporated under the laws of England with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Companies Register for England and Wales (registered number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the District Court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstraße 33-35, 60325 Frankfurt am Main, Germany (email address: [email protected]). Managing Directors/Directors: Jeffery H. Perkins, Paul Poggi. (VAT identification number DE321666994). Harris Williams is a trading name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH do business.

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