Photo: courtesy adobe stock
Re-Bath operates on a franchise model and is recognized as the nation’s largest interior remodeling company. TZP worked with a group of undisclosed co-investors to fund the acquisition, according to the release. Re-Bath has grown significantly over the past two years, in part due to increased homeowner demand for bathroom projects. In 2021, the company saw 80% YOY growth and signed 17 new franchise agreements bringing the total number to more than 100 locations nationwide. Re-Bath's sales topped $244 million this year, according to industry sources.
Founded in 2007, TZP seeks to invest in companies in order to accelerate growth and increase profitability.
Many private equity companies are entering the remodeling industry, seeing the home improvement industry as ever-growing. The number of private equity firms has doubled in the span of two decades, increasing investments by 700%.
“Historically, private equity firms avoided cyclical industries like remodeling,” Matt Ogden, head of private equity firm Building Industry Partners, previously told Pro Remodeler. “Over time that’s changed.”
Growth Is In The Air
TZP and Re-Bath say there’s a mutual goal for growth within this new acquisition.
“Through this investment, we will be able to leverage TZP’s expertise and resources to further expand our brand to a wider audience and better serve our customers, franchisees, partners and employees,” said Re-Bath CEO Brad Hillier in the official news release. “With continued investments in technology and human capital, our company will be well positioned for accelerated growth in the coming years.”
The high-level position holders at TZP Group believe in Re-Bath’s quality and see this partnership as an opportunity to help them grow even more.
“After reviewing a number of opportunities in one of TZP’s target sectors of residential home services, we are confident that Re-Bath’s fast-growing, customer-centric franchise and solid value proposition for consumers and franchisees stands out among service providers and franchised brands,” said Will Callahan, principal at TZP, in the official news release.