Broad Sky Partners Acquires Punctual Pros, a Leading Franchisee within Authority Brands in the Mid-Atlantic Region
Broad Sky Partners, a middle market private equity firm focused on essential businesses in Business Services and Consumer Services end markets, announced today that it has made a strategic investment in Punctual Pros ("the Company"), an operator of One Hour Heating & Air Conditioning, Benjamin Franklin Plumbing and Mister Sparky Electrical franchise servicing Central Pennsylvania. Punctual Pros is one of the largest franchisee operators within Authority Brands, the premier home service franchisor in North America with over 2,800 territories.
Founded initially in 1958 as The Rohrer Company, the Company provides services across Central Pennsylvania and surrounding areas, covering 240 zip codes. Punctual Pros has built a reputation as a highly respected operator of these franchised brands, renowned for a high standard of customer service and satisfaction. Punctual Pros has driven sustainable organic growth as a result of innovation and training on service and safety and employee career development and optimizing capacity to meet customers' unexpected and routine needs. Demand for this largely non-discretionary work is resilient and expected to grow with increasing housing stock, prevalence of hybrid work, continued weather volatility, evolving regulations, and rising demand for energy efficient solutions.
"This investment continues Broad Sky Partners' thematic investment strategy within essential sectors of the economy where our capital, resources, and operational excellence can drive growth and deliver value to both customers and stakeholders," commented Jonathan Marlow, Partner at Broad Sky Partners. "We were attracted to the strength of leaders Matt Buckwalter and Aaron Buckwalter who, along with their team, have driven key operational metrics and cultivated a values-driven, people-first culture. We look forward to supporting the Punctual Pros team."
"This partnership is just the beginning of our Company's journey to build Punctual Pros as the premier home services provider in the mid-Atlantic region," said Matt Buckwalter, Founder and CEO of Punctual Pros. "We wouldn't have achieved our success to date without the hard work and dedication of our incredible team and customers, who play a fundamental role in everything we do. We look forward to partnering with the Broad Sky team and know their expertise will add significant value as we continue to grow our footprint through M&A."
"First, we are excited for Matt and the team. They have worked very hard over the years to build an outstanding business model that will create value for years to come. Secondly, the opportunity to work with Broad Sky Partners to take this business to the next level will support Matt's vision for outstanding growth. We are excited for the next chapter and look forward to this new partnership," said Mark Dawson, Executive Vice President of Service Trades Brands at Authority Brands.
Terms of the transaction were not disclosed. Harris Williams acted as buy-side advisor, and Greenberg Traurig served as legal advisor to Broad Sky Partners on the transaction. Boxwood Partners acted as the exclusive sell-side advisor, Trout CPA served as accounting advisor, and Barley Snyder served as legal advisor to Punctual Pros.
ABOUT BSP
Broad Sky Partners is a private equity firm that partners with leading middle market business services and consumer services companies. The firm offers a differentiated approach to sector-focused, thematic investing and value creation. Its Portfolio Resource Group is dedicated to helping companies capitalize on growth opportunities. Broad Sky is based in New York City. To learn more, visit www.broadskypartners.com.
ABOUT PUNCTUAL PROS
Punctual Pros is a leading operator of three residential services brands, including One Hour Heating & Air Conditioning, Benjamin Franklin Plumbing, and Mister Sparky Electrical. Originally founded in 1958, the Company provides services to homes across Central Pennsylvania and surrounding areas covering 240 zip codes.
ABOUT AUTHORITY BRANDS
Headquartered in Columbia, Maryland, Authority Brands' companies include 16 leading home service franchise brands: America's Swimming Pool Company, Benjamin Franklin Plumbing, The Cleaning Authority, Color World Painting, DoodyCalls, DRYmedic Restoration Services, Homewatch CareGivers, The Junkluggers, Lawn Squad, Mister Sparky, Monster Tree Service, Mosquito Squad, One Hour Heating & Air Conditioning, Screenmobile, STOP Restoration, and Woofie's. Together, these brands provide home services through more than 2,800 territories operated by more than 1,200 franchise owners. Authority Brands is dedicated to supporting individual franchise owner growth by providing strong marketing, technology, and operational support. See www.authoritybrands.com for more information.
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