Home Depot sells franchise division
Baird Capital Partners, the U.S.-based buyout fund of Baird Private Equity, has announced the acquisition of Harris Research Inc. (HRI) from Home Depot.
Based in Logan, Utah, HRI is a leading franchisor of in-home consumer services in the United States and internationally. The company’s Chem-Dry brand is a provider of carpet and upholstery cleaning services with approximately 4,000 franchises worldwide. Chem-Dry will continue its lead generation program with Home Depot, according to the announcement.
HRI also offers the N-Hance wood cabinet and flooring renewal service through more than 200 franchises. N-Hance will continue to be featured as one of Home Depot’s renovations offerings at its retail locations in the United States and Canada, as well as directly to consumers.
Financing for the transaction is being provided by BMO Harris Bank N.A., BBVA, and Caltius. Baird is joined in the investment by Thrivent Financial for Lutherans. The financial terms of the agreement were not disclosed.