Columbia, Md.’s Authority Brands announced today the purchase of DRYmedic Restoration Services, a disaster restoration service for businesses and families based in Bloomfield Hills. Terms of the transaction were not disclosed.
Founded by Carlos Hesano and Benjamin Gergis in 2014, DRYmedic helps “bring families and businesses back to life after disaster.” What started as a family business with one truck has grown to serve the Detroit region with more than 40 trucks, providing a full range of disaster restoration services that take clients from cleanup to complete recovery from fire, flood, storm, mold and asbestos.
“DRYmedic is the perfect addition to the Authority Brands portfolio, complementing the suite of professional home services our brands provide,” says Craig Donaldson, CEO of Authority Brands.
“This year mark’s Authority Brands 5th anniversary and over that time, we have achieved impressive growth, responding to the increased demand for home services by expanding our portfolio with thoughtful concepts that benefit owners and clientele alike. We are thrilled to support DRYmedic as their business expands and provide resources to help the company achieve their growth goals.”
Companies under the Authority Brands umbrella include America’s Swimming Pool Co., Benjamin Franklin Plumbing, The Cleaning Authority, Color World Painting, DoodyCalls, Homewatch CareGivers, Mister Sparky, Monster Tree Service, Mosquito Squad, One Hour Heating & Air Conditioning, STOP Restoration, and Woofie’s.
“When considering new brands to join the Authority Brands family, we look for entrepreneurs who have a clear vision for the future of their company,” says Ashish Karandikar, member of the board at Authority Brands’ parent company and partner Apax. “DRYmedic has achieved a lot on its own, and now with the support of our system they are primed to grow exponentially. We look forward to DRYmedic scaling with the resources Authority Brands can provide.”
Carlos Hesano adds, “We created DRYmedic to fill a need — the need to bring our community top-quality, professional restoration and disaster cleanup services. Now that we are joining forces with the Authority Brands network, our company will have the right resources and support to continue serving our clients while expanding our reach and ability to help more people.”
Greenwich Capital Group represented DRYmedic and acted as their exclusive financial advisor for the transaction.