Simpson Thacher represented Authority Brands and Apax Partners in connection with the acquisition, by Authority Brands, of America’s Swimming Pool Company (“ASP”), the nation’s largest swimming pool service franchise. The transaction was completed on October 19, 2018. The acquisition represents the first brand addition since Authority Brands was acquired by funds advised by Apax Partners in September 2018. The financial terms of the transaction were not disclosed.
Founded in 2002, ASP is the nation’s largest swimming pool service franchise with over 100 franchise owners operating in more than 350 cities across 21 states. The company provides a number of services to swimming pool owners including pool maintenance, cleaning, inspections, repairs and renovations.
Authority Brands is a leading home services franchising platform and the parent company to The Cleaning Authority (“TCA”) and Homewatch CareGivers (“HWCG”). TCA franchisees provide residential cleaning services to more than 100,000 recurring customers, while HWCG franchisees deliver at-home services including elderly, disabled and after-surgery care, as well as help for those living with dementia. Authority Brands supports individual franchisee growth by providing strong marketing, technology and operational support. With the addition of ASP, Authority Brands now has more than 550 franchise locations in the United States, Canada and Latin America.
The Simpson Thacher team included Ben Schaye, Ryerson Symons, Sung Jin and Beth DiSciullo (M&A); Gary Mandel, Drew Purcell, Sophie Staples and Pierce Pandolph (Tax); Brian Robbins, Jamin Koslowe, Adam Cohen and Andrew Mandelbaum (ECEB); Marcela Robledo and Alysha Sekhon (IP); Brian Steinhardt, James Doyle and Robert Meyer (Credit); Steven DeLott (Insurance); Richard Jamgochian and Kelly Karapetyan (Regulatory); Dennis Loiacono (Real Estate); and Michael Isby (Environmental).