Simpson Thacher represented Apax Partners in connection with the Apax Funds’ acquisition of Authority Brands, a leading North American franchisor of home services, from PNC Riverarch Capital. The transaction was completed on September 21, 2018. The financial terms of the transaction were not disclosed.
Founded in 1996 and headquartered in Columbia, Maryland, Authority Brands is the parent company of two home services franchisors: The Cleaning Authority, which provides residential cleaning services to over 100,000 customers across the U.S.; and Homewatch CareGivers, which delivers at-home services including elderly, disabled and after-surgery care, as well as help for those living with dementia. Authority Brands operates over 300 franchises in the U.S., Canada and Latin America, supporting them to grow through the provision of marketing, technology and operational support.
The Simpson Thacher team included Ryerson Symons, Ben Schaye, Sung Jin and Jessica Bragg (M&A); Gary Mandel, Sophie Staples and Pierce Pandolph (Tax); Brian Robbins, Jamin Koslowe, Adam Cohen and Andrew Mandelbaum (ECEB); Marcela Robledo (IP); Brian Steinhardt, James Doyle, Chance Goldberg, Mark Haddox and Robert Meyer (Credit); Steven DeLott (Insurance); Richard Jamgochian, Kelly Karapetyan and William Kearney (Regulatory); and Michael Isby (Environmental).