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Authority Brands Acquires DRYmedic Restoration Services

COLUMBIA, Md. -- Authority Brands announced today the purchase of DRYmedic Restoration Services. Terms of the transaction were not disclosed.

Founded by Carlos Hesano and Benjamin Gergis in 2014, DRYmedic helps bring families and businesses back to life after disaster. What started as a family business with one truck has grown to serve the Detroit, Michigan region with over 40 trucks, providing a full range of disaster restoration services that take clients from cleanup to complete recovery from fire, flood, storm, mold and asbestos.

Companies under the Authority Brands umbrella include leading home service brands 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 & Air Conditioning, STOP Restoration and Woofie's. They operate across swimming pool repair and maintenance, plumbing, the residential cleaning, indoor and outdoor painting, pet waste removal, at-home care, electrical and heating, tree care, pest control services, ventilation and air-conditioning ("HVAC"), restoration sectors, and grooming and pet services, respectively. Authority Brands supports individual franchisee growth by providing strong marketing, technology and operational tools and resources.

"DRYmedic is the perfect addition to the Authority Brands portfolio, complementing the suite of professional home services our brands provide," said Craig Donaldson, CEO of Authority Brands. "This year marks Authority Brands' 5th anniversary and over that time, we have achieved impressive growth, responding to the increased demand for home services by expanding our portfolio with thoughtful concepts that benefit owners and clientele alike. We are thrilled to support DRYmedic as their business expands and provide resources to help the company achieve their growth goals."

"When considering new brands to join the Authority Brands family, we look for entrepreneurs who have a clear vision for the future of their company. DRYmedic has achieved a lot on its own, and now with the support of our system they are primed to grow exponentially. We look forward to DRYmedic scaling with the resources Authority Brands can provide," said Ashish Karandikar, Board of Directors member of Authority Brands' parent company and Partner at Apax.

"We created DRYmedic to fill a need the need to bring our community top-quality, professional restoration and disaster cleanup services. Now that we are joining forces with the Authority Brands network, our company will have the right resources and support to continue serving our clients while expanding our reach and ability to help more people," said Carlos Hesano, Founder and CEO of DRYmedic.

Greenwich Capital Group represented DRYmedic and acted as their exclusive financial advisor for the transaction.

About Authority Brands

Headquartered in Columbia, Maryland, Authority Brands' companies 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 & Air Conditioning, STOP Restoration, and Woofie's. Together, these brands provide home services through more than 1,900 territories operated by more than 1,000 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.

SOURCE Authority Brands, LLC