Clockwork Home Services Expands Its Market Share in the Denver Area with Acquisition
SARASOTA, Fla. & DENVER--(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 Albracht/K&D Heating and Air Conditioning, Inc., effective June 1, 2008. This acquisition expands the reach of Clockwork's home services in the Denver area.
Albracht/K&D Heating & Air Conditioning, Inc., based in Loveland, Colorado, had 2007 revenue of $2.3 million. The company will now operate as a fully-owned unit of Clockwork under the brand name of One Hour Air Conditioning & Heating, and will be managed by George Donaldson, Clockwork's vice president of operations and the general manager of Candlelight Service Company in Denver, a Clockwork-owned company. Albracht/K&D's services will be integrated with Candlelight's to expand their collective customer service footprints in Denver, Loveland, and surrounding communities.
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 remains focused on identifying and acquiring profitable, well-managed home services companies that meet our strict customer service standards and business best practices," said Jim Abrams, CEO, Clockwork Home Services, Inc. "Dan Albracht purchased his first One Hour franchise in 2003. Prior to joining the franchise, he was an active member of AirTime 500 – the Clockwork affinity group focused on helping heating and air conditioning independent contractors reach their high growth potential. Dan built a solid business in the Denver area which we are now pleased to welcome into the Clockwork family."
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 2007, Clockwork was ranked #822 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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