Dallas, Texas, July 6, 2022 – Poolwerx, the world’s largest global franchise pool service brand, today announced it is partnering with Norwest, a leading global investment firm, to drive business growth across the U.S. and overseas.
Founded in 1992 by entrepreneur and CEO John O’Brien, Poolwerx has demonstrated its resilience as a brand with immense growth in every year of operation despite multiple recessions. The business currently supports 350 franchise partners, 170 stores and more than 600 service vans in the U.S., Australia and New Zealand, with U.S. headquarters in Dallas.
Poolwerx joins other market-leading franchise businesses in Norwest’s portfolio, including Junk King and The Learning Experience. The Norwest team brings extensive home services expertise and will provide resources that enable Poolwerx to expand its footprint across the U.S. and expand into new international markets. This strategic partnership will empower existing franchise partners to grow their businesses at a faster rate.
“We are thrilled to welcome Norwest to the Poolwerx family,” said O’Brien. “Through this new partnership, we will have access to Norwest’s wealth of experience across both franchise and non-franchise businesses, allowing us to reach our ambitious growth goals faster.”
“Poolwerx is one of the few international franchise brands that has cracked the U.S. market as a result of its robust expansion processes, strong relationships with franchise partners and suppliers, and fiercely loyal customer base,” said Stew Campbell, Partner at Norwest. “The company is uniquely positioned to capitalize on opportunities in the large and growing pool and spa market across products and services domestically and overseas.”
“This partnership will have a huge impact on the growth opportunities for our U.S. operations. While our leadership team and day-to-day operations will remain the same, we expect to see a big impact in the success of both our brand and franchise partners,” O’Brien said. “I am proud to announce COO Andrew Kidd will move into the role as North American CEO. With 10 years of experience in leadership roles at Poolwerx, Kidd will bring his skills in franchising and operations to his enhanced role in the United States.
“I will continue to strategically lead the business as Executive Director. In the meantime, it’s business as usual as we continue our mission of building a network of small businesses that help families create lifelong poolside memories.”
InterFinancial Corporate Finance was the lead advisor to Poolwerx and its shareholders on this transaction.
Norwest is a leading venture and growth equity investment firm managing more than $12.5 billion in capital. Since its inception, Norwest has invested in more than 650 companies and currently partners with more than 200 companies in its venture and growth equity portfolio. The firm invests in early- to late-stage businesses across a wide range of sectors with a focus on consumer, enterprise and healthcare. The Norwest team offers a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Palo Alto and San Francisco, with subsidiaries in India and Israel. For more information, please visit www.nvp.com. Follow Norwest on Twitter @NorwestVP.