Investcorp acquires The Wrench
Investcorp has announced the acquisition of The Wrench Group. 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 Wrench Group currently serves over 140,000 customers throughout the Atlanta, Dallas, Houston and Phoenix markets. It is marketed regionally through four prominent brands: Coolray, Berkeys, Abacus and Parker & Sons and generated approximately $150 million in revenue for 2015.
“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,” said Mohammed Al Shroogi, Co-CEO at Investcorp.
Fahad Murad, Managing Director at Investcorp for Bahrain, said, “There is a strong management team in place and we are looking forward to working with them through the next phase of their development.”
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