M&A Deal Summary

British Columbia Investment Management Acquires Authority Brands

On September 20, 2022, asset manager British Columbia Investment Management acquired franchising company Authority Brands from Apax

Acquisition Highlights
  • This is British Columbia Investment Management’s 1st transaction in the Franchising sector.
  • This is British Columbia Investment Management’s 7th transaction in the United States.
  • This is British Columbia Investment Management’s 1st transaction in Maryland.

M&A Deal Summary

Date 2022-09-20
Target Authority Brands
Sector Franchising
Buyer(s) British Columbia Investment Management
Sellers(s) Apax
Deal Type Secondary Buyout

Target

Authority Brands

Columbia, Maryland, United States
website
Authority Brands is a parent company of two home service franchisors, The Cleaning Authority and Homewatch CareGivers. Together, these brands provide recurring home services through more than 300 franchise locations in the U.S., Canada, and Latin America. Authority Brands was formed in 2017 and is based in Columbia, Maryland.

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Buyer(S) 1

DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.


DEAL STATS #
Overall 18 of 18
Sector (Franchising) 1 of 1
Type (Secondary Buyout) 9 of 9
State (Maryland) 1 of 1
Country (United States) 7 of 7
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-27 National Grid - Gas Transmission & Metering Business

London, United Kingdom

National Grid's Gas Transmission & Metering Business owns and operates regulated national gas transmission system and independent gas metering services.

Buy £9.6B

Seller(S) 1

SELLER

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from €1 to €5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 160 of 163
Sector (Franchising) 2 of 2
Type (Secondary Buyout) 59 of 60
State (Maryland) 1 of 1
Country (United States) 61 of 63
Year (2022) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-25 Pickles Auctions

Belmore, Australia

Pickles Auctions is Australia’s Auctioneer and Valuer, delivering exceptional service to their vendors and customers daily. Pickles Auctions engages in asset remarketing across industrial, cars, trucks, and salvage. Pickles Auctions was founded in 1964 and is based in Belmore, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-06 Boasso Global

Tampa, Florida, United States

Boasso Global is an international provider of depot and transportation services to a fast-growing, global ISO tank container industry. Boasso offers a multitude of mission-critical services through a network of 34 international depots, including 17 in North America, 8 in the United Kingdom, and 9 in Continental Europe. Boasso Global is based in Tampa, Florida.

Sell -