CHESTER, N.J., Feb. 2, 2022 /PRNewswire/ — PatchMaster, a leading franchisor of drywall and plaster repair services, announced today a strategic investment from MPK Equity Partners, a Dallas-based private investment firm. The new funding will support PatchMaster’s nationwide expansion and strengthen its position as the leading provider of wall surface repair and related services to the residential and commercial markets. PatchMaster’s existing shareholder group, led by Michael Abdy, will maintain a meaningful ownership stake in the business, and Mr. Abdy and Paul Ferrara (CEO of PatchMaster) will be joining the board of directors alongside MPK. Additional details of the investment were not made public.
Founded in 2016, PatchMaster has over 110 locations across 26 states. PatchMaster’s low initial investment, non-discretionary service offering, robust profit margins, and lack of brick-and-mortar presence make it a unique and compelling franchise opportunity within the attractive home services space. As one of the only sophisticated players with national scale focused on drywall repair services, PatchMaster is well positioned to capture incremental market share within the large ($64 billion in the U.S.) and highly fragmented (comprised of ~135,000 businesses) drywall and insulation industry.
"We are extremely excited to welcome MPK to the PatchMaster family and look forward to working closely with the MPK team over the coming years as PatchMaster embarks on its next phase of growth," said Paul Ferrara. "With the added financial and operational resources provided by MPK, we are even better positioned to support the accelerated growth of our franchise system."
PatchMaster has experienced robust growth since its founding in 2016, and the partnership with MPK comes at an inflection point in PatchMaster’s growth trajectory, with PatchMaster posting record high systemwide sales and new franchise license sales in 2021.
"Paul and the entire PatchMaster team have built a category-leading home services franchise brand with significant momentum," said Patrick K. McGee, managing partner of MPK. "We are thrilled to bring PatchMaster into our broader portfolio of home services franchise brands, and we look forward to supporting PatchMaster in its next stage of growth."
PatchMaster is a franchisor of drywall and plaster repair services, offering customers fast, same-day, professional service across the U.S. PatchMaster technicians can blend plaster textures and match paint to make imperfections simply disappear, making walls and ceilings look new again. PatchMaster is headquartered in Chester, New Jersey, and has over 110 locations across 26 states. To learn more about PatchMaster, visit www.patchmaster.com or www.patchmasteropportunity.com.
About MPK Equity Partners
MPK Equity Partners is a Dallas, Texas-based private investment firm, which invests in growing, profitable, founder-owned businesses. MPK’s patient and flexible approach allows for control, non-control, and growth equity investments, and unlike a traditional private equity sponsor, is not constrained by institutional fundraising cycles. PatchMaster marks MPK’s 6th home services franchisor investment, with other MPK home services franchise brands including Restoration 1, bluefrog Plumbing + Drain, The Driveway Company, Softroc, and Zoom Drain. Additional MPK franchisor investments include Unleashed Brands and its portfolio of Urban Air, Snapology, The Little Gym, and Premier Martial Arts, as well as Radiance Holdings and its portfolio of Sola Salon Studios and The Woodhouse Day Spa. To learn more about MPK Equity Partners, visit www.mpkequitypartners.com.
SOURCE MPK Equity Partners