Clockwork Home Services Expands Its Market Share in the Oklahoma City Area with New Acquisition
SARASOTA, Fla. & OKLAHOMA CITY--(BUSINESS WIRE)--Clockwork Home Services, Inc. (Clockwork), one of North America's fastest-growing operators of home services franchises, today announced that it has acquired Hardesty & Crick, LLC, effective October 1, 2008. This acquisition expands the reach of Clockwork's home services in the Oklahoma City area.
Hardesty & Crick, based in Oklahoma City, had 2007 revenue of $3.2 million and has 2008 projected revenue of $3.4 million. Post-acquisition, the company will operate as a fully-owned unit of Clockwork Home Services and will be managed by Deryk Ruth. As part of the agreement, the franchise will operate under the name of Hardesty Team's One Hour Air Conditioning & Heating for a transitional period and will then be branded as One Hour Air Conditioning & Heating.
Under terms of the deal, Clockwork is assuming ownership, rights and use of the company's assets, intellectual property, trucks, equipment and offices. Prior management and employees will remain at the company as Clockwork employees. Additional terms were not disclosed.
"Clockwork is committed to growing its franchise brands in key markets across the United States and in Canada," said Jim Abrams, CEO, Clockwork Home Services, Inc. "By acquiring profitable, well-managed home services companies, Clockwork is further expanding its residential customer base and building brand loyalty through our dedication to customer service."
Clockwork currently operates electrical, plumbing, heating and air conditioning franchises within its portfolio of home services franchises.
About Clockwork Home Services
Clockwork Home Services, Inc. is dedicated to improving the operations, efficiency, customer service and profitability of contractors in the home services industry in North America through affinity group membership and nationally branded franchises. Its companies include Mister Sparky® Franchising, Benjamin Franklin Plumbing® Franchising, One Hour Air Conditioning & Heating® Franchising, BuyMax®, Plumbers' Success International®, Electricians' Success International®, AirTime 500™, Roofers' Success International®, Success Academy®, AirTime Canada™ ULC, SuccessWare, Inc.® and company-owned One Hour® operations in Nevada, Florida, Tennessee, Minnesota, Indiana, California, Ohio, South Carolina, Colorado and throughout Canada; company-owned Benjamin Franklin Plumbing® operations in Indiana, Tennessee, Minnesota, Ohio, California and Colorado; and company-owned Mister Sparky® operations in Colorado, Indiana and Georgia. In 2008, Clockwork was ranked #933 on Inc. magazine's Inc. 5,000® list of fastest-growing private companies in the United States. For more information, visit www.clockworkhomeservices.com.
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