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.”
Founded in 1974 and headquartered in North San Diego County, California, RotoCo offers 24/7 emergency plumbing, drain and water restoration services. RotoCo’s experienced team of technicians provide essential plumbing services to residential and commercial customers. RotoCo is the largest Roto-Rooter franchisee comprised of 23 franchises across 10 regional branches in California. To learn more, please visit www.rotorooter.com.
About Bessemer Investors
Bessemer Investors is a New York-based investment firm focused on partnering with middle market businesses to support growth and enhance value creation. Bessemer differentiates itself by combining a long-term, flexible capital base with a team of experienced private equity professionals. This approach offers unique solutions to Bessemer's partners and the flexibility to maximize long-term value. For further information, please visit www.bessemerinvestors.com.