Investment bank Boxwood Partners advised the Color World franchise during the sale
Authority Brands has bought the Color World Housepainting franchise, making it the 11th entity in Authority Brands home-services portfolio. Based in Maryland, Authority Brands is an umbrella franchisor that provides home services in 1,900-plus territories operated by more than 1,000 franchisees. Boxwood Partners, a middle-market investment bank in Florida, advised Color World during the acquisition, which is the ninth brand that Authority Brands has added since October 2018. Terms of the deal are undisclosed.
Color World Housepainting has 20 franchise sites around the country, with its franchisees taking charge of indoor and outdoor projects for residential and commercial customers. Besides painting, Ohio-based Color World carries out installation and design of holiday lights, installation and maintenance of gutters, minor drywall and carpentry work, and power-washing.
“Building this business from scratch and being able to mentor the franchisees who have joined us in our growth has been very rewarding,” said Tom Hodgson, who founded Color World in 1997. “Joining forces with the Authority Brands network and having their vast resources and support behind us now presents an entirely new level of opportunity.”
Other Authority Brands are America’s Swimming Pool Co., Benjamin Franklin Plumbing, The Cleaning Authority, DoodyCalls, Homewatch CareGivers, Mister Sparky, Monster Tree Service, Mosquito Squad, One Hour Heating & Air Conditioning, and STOP Restoration. Authority Brands is one of many umbrella franchisors that has made major acquisitions over the past several months.
In a news release, Authority Brands CEO Rob Weddle said, “Color World Housepainting is an excellent addition to the Authority Brands portfolio, complementing the suite of professional home services our brands provide. … Tom and his team have achieved impressive growth, responding to the increased demand for home improvement by expanding their offerings and investing in high-quality workmanship. We are thrilled to support Color World as the business expands into new markets and provides resources to help current franchisees achieve their growth goals.”
Ashish Karandikar, on the board of directors for Authority Brands’ parent company and partner at Apax, said leaders at the umbrella company look forward to scaling Color World. He added that “when considering new brands to join the Authority Brands family, we look for growing market leaders like Color World that demonstrate a commitment to being the best in their industry and provide their franchise owners an opportunity to build a large business.”
For Boxwood Partners, the deal marked its 13th advisory role in a franchise transaction during the past two years. Other Boxwood-assisted transactions have included the purchase of Superior Fence & Rail by Outdoor Living Brands, Belfor Franchise Group’s acquisition of Redbox+, and the Doody Calls acquisition by Authority Brands.
“Boxwood Partners’ deep understanding of the franchise landscape was a tremendous asset to Color World,” Hodgson said. “I sincerely appreciate their valuable advice and guidance throughout this process.” Color World approached Boxwood to find a partner, and the investment bank’s team began working on the acquisition in August 2021, said Managing Partner J. Patrick Galleher of Boxwood.
Galleher, Managing Director Brian Alas and Associate Dan Alfano led the process. Galleher praised Color World for its service catalog, which “provides several opportunities to establish strong customer relationships, and its house-painting concept fits the Authority Brands portfolio perfectly. With additional resources, Color World is well-positioned for continued growth.”