Audax Private Debt Provides Financing for Purchase of RotoCo
IMAGE COURTESY OF AUDAX PRIVATE DEBT
Audax Private Debt provided a unitranche credit facility to support the acquisition of RotoCo by Bessemer Investors, a New York-based private equity firm. Audax acted as administrative agent and joint lead arranger.
Founded in 1974 and headquartered in Vista, California, 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.
Bessemer Investors is a New York-based investment firm focused on partnering with middle market businesses to support growth and enhance value creation.
“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.”
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