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Fri 11 Mar 2016 10:23 AM

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Bahrain's Investcorp buys US home repairs firm

Investment firm announces the acquisition of The Wrench Group, which provides home maintenance and repair services

Bahrain's Investcorp buys US home repairs firm

Bahrain-based Investcorp has announced the acquisition of The Wrench Group, which provides home maintenance and repair services.

The company, which was formerly controlled by Alpine Investors, Skylight Capital, and Wrench management, currently serves over 140,000 customers throughout the Atlanta, Dallas, Houston and Phoenix markets, four of the fastest growing metropolitan areas in the United States.

"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 capitalising on best practices across the enterprise, continuing the strong organic growth in its current regions, and strategically expanding into attractive markets."

Fahad Murad, managing director at Investcorp for Bahrain, added: "We believe The Wrench Group is a great addition to the Investcorp portfolio. There is a strong management team in place and we are looking forward to working with them through the next phase of their development."

As part of the transaction, management will continue in their current roles with the company, a statement said without giving a value for the deal.

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