Parent Company of Largest U.S. Whole Bathroom Renovation Chain Acquired
Home Brands Group Holdings Inc, the parent company of Re-Bath, the largest bathroom renovation chain in the U.S., recently announced that it had been acquired by private equity firm TZP Group LLC (“TZP”), but did not disclose details of the transaction.
According to foreign media reports, the Re-Bath parent company first entered the total bathroom renovation industry in 1978, focusing on the hospitality industry. 1991, Re-Bath opened its first franchise, set foot in the residential total bathroom renovation market, has grown to more than 100 sellers across the United States, the cumulative service total bathroom more than 1 million, becoming the largest chain of total bathroom renovation companies in the United States.
TZP, which acquired Re-Bath’s parent company, is a private equity firm that manages a family of approximately $2 billion funds, including TZP Capital Partners, TZP Small Cap Partners, TZP Strategies and TZP Strategies Acquisition Corp. Re-Bath’s CEO, Brad Hillier, said that the company has been in business for more than 20 years. Bath CEO Brad Hillier said, “It is great to kick off our next growth chapter with an investment from TZP that represents the growth and success we have achieved and the right direction we are moving in.” Re-Bath’s recent accelerated growth brings it closer to its goal of becoming a $1 billion company. To achieve this milestone, Re-Bath plans to leverage TZP’s resources, continue to focus on partnering with great franchisees, strengthen partnerships with world-class companies, maximize opportunities with national retail partners, and through new technology and innovation. Combined, these efforts can propel Re-Bath to become a household name nationwide.