April 22, 2024

Private Equity Firm Broad Sky Partners Invests in Punctual Pros

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Broad Sky Partners, a prominent middle market private equity firm specializing in essential businesses within business services and consumer services, has announced a significant investment in Punctual Pros. Punctual Pros, operating under the umbrella of Columbia-based Authority Brands, encompasses three companies: one-hour heating and air conditioning, Benjamin Franklin Plumbing, and the Mister Sparky Electrical franchise servicing central Pennsylvania.

The exact terms of the investment remain undisclosed. However, Punctual Pros stands as one of the largest franchisee operators within Authority Brands, a premier home service franchisor in North America boasting over 2,800 territories.

Established in 1958 as The Rohrer Company, Punctual Pros has solidified its presence across Central Pennsylvania and surrounding areas, servicing 240 zip codes. Renowned for its unwavering commitment to customer service and satisfaction, Punctual Pros has earned a sterling reputation as a top operator of franchised brands.

The company’s success is attributed to its focus on sustainable organic growth through innovation, comprehensive service and safety training, employee career development, and capacity optimization to meet both routine and unexpected customer needs. The demand for its services, primarily non-discretionary in nature, remains resilient and is poised for further growth, driven by factors such as increasing housing stock, hybrid work trends, weather volatility, regulatory shifts, and the rising demand for energy-efficient solutions.

While the financial details of the transaction were not disclosed, the investment process involved notable players. Harris Williams served as the buy-side advisor, with Greenberg Traurig providing legal advisory services to Broad Sky Partners. On the other side, Boxwood Partners acted as the exclusive sell-side advisor, supported by Trout CPA as the accounting advisor, and Barley Snyder as the legal advisor to Punctual Pros.

Broad Sky Partners, headquartered in Columbia, Maryland, specializes in partnering with leading middle market business services and consumer services companies. The firm adopts a thematic investing approach focused on sector-specific opportunities and value creation. Additionally, its Portfolio Resource Group is dedicated to assisting companies in capitalizing on growth prospects.

Authority Brands, under which Punctual Pros operates, comprises 16 leading home service franchise brands, collectively offering a wide range of home services through over 2,800 territories managed by more than 1,200 franchise owners.

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