Clockwork Homes Services Inc. says it will expand its Benjamin Franklin Plumbing, One Hour Air Conditioning & Heating and Mister Sparky Electrical home services franchises into Canada.
The Sarasota-based company, the owner and franchiser of home repair concepts in the air-conditioning, electrical and plumbing sectors around the nation, already has more than 400 franchises in the United States.
The company announced that it had secured $120 million in financing through Prudential Capital Partners L.P. II, Wachovia Bank and Prudential Capital Group.
The financing includes $25 million of senior subordinated notes provided by Prudential Capital Partners and a $70 million credit line — with the option of $25 million more — provided by Wachovia and Prudential Capital Group.
Logo from Clockwork Home Services.
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