Investcorp Partners with The Wrench Group

3 Mar 2016

Investcorp Partners with The Wrench Group, A Leading Provider of Essential Home Maintenance & Repair Services

Investcorp, a leading provider and manager of alternative investment products, announced a majority investment in The Wrench Group (“Wrench” or the “Company”). The Company was formerly controlled by Alpine Investors, Skylight Capital, and Wrench management. The Wrench Group provides essential home maintenance and repair services, including heating, ventilation and air conditioning, plumbing and electrical services.

The Company operates in a large and fragmented $200 billion market and has demonstrated consistent growth through all economic cycles. The Wrench Group currently serves over 140,000 customers throughout the Atlanta, Dallas, Houston, and Phoenix markets, four of the fastest growing metropolitan areas in the United States. With approximately $150 million in revenue for 2015, The Wrench Group is positioned as a leading provider of home services in each of its markets due to high brand recognition and commitment to exceptional customer service. The Company is poised for continued growth in existing and new markets.

“Investcorp is excited to partner with The Wrench Group’s outstanding management team. The team has distinguished itself by achieving substantial growth in each of the Company’s markets while providing superior customer service,” said David Tayeh, Head of Corporate Investment for North America at Investcorp. “We plan to support the Company in continuing to build upon its current successes by capitalizing on best practices across the enterprise, continuing the strong organic growth in its current regions and strategically expanding into attractive markets.”

As part of the transaction, management will continue in their current roles with the Company and retain a meaningful interest in Wrench. Collin Hathaway, Managing Partner of Skylight Capital and Chairman of Wrench said, “We spent the past five years identifying and partnering with the best regional companies who have strong leadership and the right cultural fit in the non-discretionary home service space.  Investcorp shares our commitment to our team, our customers and our industry, and we are thrilled to have them as a partner and resource.”  

Graham Weaver, Founder and Partner of Alpine Investors added: “The management team at Wrench has built a world class, durable company that continues to provide incredible service and value to thousands of customers throughout the U.S. We are honored to have Investcorp, a first rate and experienced investor, as a partner to help the Company realize its potential.