FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Articles / Read Article

Print

Audax Private Debt Provides Unitranche Facility to Support Bessemer Investors’ Investment in RotoCo

Date: Jul 18, 2022 @ 07:09 AM
Filed Under: Specialty Industries

Audax Private Debt announced that, as Administrative Agent & Joint Lead Arranger, it provided a unitranche credit facility to support the acquisition of RotoCo (the “Company”), a franchisee of Roto-Rooter, by Bessemer Investors, a New York-based private equity firm.

Founded in 1974 and headquartered in North San Diego County, CA, RotoCo provides plumbing, drain, and water restoration services to residential and commercial customers. RotoCo is the largest Roto-Rooter franchisee comprised of 23 franchises across 10 regional branches in California.

“RotoCo has built an impressive operational network of franchises through its best-in-class plumbing and water restoration services, trusted by customers all over California,” said Peter Stern, Managing Director at Audax Private Debt. “We are excited to partner with Bessemer in this transaction which will augment RotoCo’s historically strong organic growth, and to support the Company in furthering their long-standing legacy of customer-focused service and safety.”

“We are very excited to be working alongside Audax Private Debt,” said Andrew Mendelsohn, Principal at Bessemer Investors. “Audax has thoughtfully collaborated with us to support our financing needs, and we appreciate their continued partnership throughout this process. We look forward to leveraging the Audax team’s valuable experience and market knowledge as we continue to pursue new growth opportunities for RotoCo.”

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.