Authority Brands
Columbia, MD · CEO Rob Weddle
How it operates
Apax Partners-backed home-services franchisor platform. Its February 2019 purchase of the Clockwork brands — Benjamin Franklin Plumbing, Mister Sparky Electric and One Hour Heating & Air Conditioning — was, in CEO Rob Weddle's words, 'an important and significant step in the evolution of Authority Brands,' doubling system revenue to over $1 billion. Apax partner Ashish Karandikar said the Clockwork brands 'operate in attractive markets and will bring scale and diversification.' The platform franchises rather than owning most operating locations, so its Tampa Bay presence runs through One Hour, Benjamin Franklin and Mister Sparky franchisees.
Tampa Bay brands (1)
Clockwork Home Services, Inc.
Deal history in the region
Capital events
Recapitalizations, sponsor changes, debt raises, bankruptcies and exits at the platform level. These set the clock that local brands live on.
- recap — Funds advised by Apax Partners acquire Authority Brands. Month-level date. [source]
- acquisition — Announced acquisition of Clockwork, Inc. from Direct Energy, doubling system revenue to over $1 billion [source]
- acquisition — Closed the Clockwork purchase at $300 million; 725+ franchise territories and 10 company-owned locations [source]
- recap — BCI leads a significant investment in Authority Brands. Month-level date from the PR Newswire release ID. [source]
Frequently asked
Who owns Authority Brands?
Authority Brands is owned by its investors — Apax Partners, British Columbia Investment Management Corporation (BCI) — together with management.
Which Tampa Bay companies does Authority Brands own?
Does Authority Brands keep the local brand names?
1 of 1 Tampa Bay brands we track still operate under their original names.
Is Authority Brands private equity?
Yes — it is a private-equity-backed platform (see the capital chain above).
Sources Verified — primary document
- Apax Partners (2018-10-01) — press release. Apax acquisition
- PR Newswire / BCI (2022-09-01) — press release. BCI-led investment
- Authority Brands — company site. Corporate about page
- PR Newswire / Authority Brands (2019-02-21) — press release. Weddle and Karandikar quotes, brand list, $1B system revenue
- ACHR News (2019-07-01) — trade press. Trade coverage
- Apax Partners (2019-02-21) — press release. Sponsor announcement
Researcher notes: Neither release fetched; dates are month-level inferences from release URLs and titles. HQ, CEO, brand count and Tampa Bay franchisee mapping are gaps. | Tampa Bay exposure is franchise-level (One Hour Air Conditioning & Heating of Tampa, Benjamin Franklin Plumbing of Tampa, Mister Sparky), not corporate-owned; individual franchisee ownership was not researched here.
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