Mubasher: Bahrain-listed investment bank Investcorp announced Saturday the acquisition of U.S.-based The Wrench Group that was formerly controlled by Alpine Investors, Skylight Capital, and Wrench management.
The Wrench Group provides essential home maintenance and repair services, including heating, ventilation and air conditioning, plumbing and electrical services.
With approximately $150 million in revenue for 2015, The Wrench Group is positioned as a leading provider of home services in each of its markets due to high brand recognition and commitment to exceptional customer service. The Company is poised for continued growth in existing and new markets, according to Investcorp statement.
“Investcorp is excited to partner with The Wrench Group’s outstanding management team. The team has distinguished itself by achieving substantial growth in each of the Company’s markets while providing superior customer service,” said Mohammed Al-Shroogi, Co-CEO at Investcorp. “We plan to support the Company in continuing to build upon its current successes by capitalizing on best practices across the enterprise, continuing the strong organic growth in its current regions, and strategically expanding into attractive markets.”
