Clockwork Home Services Expands Its Market Share In The Oklahoma City Area With New Acquisition

MarketWatch:

Clockwork Home Services, Inc. (Clockwork), one of North America’s fastest-growing operators of home services franchises, today announced that it has acquired Hardesty & Crick, LLC, effective October 1, 2008. This acquisition expands the reach of Clockwork’s home services in the Oklahoma City area.

Hardesty & Crick, based in Oklahoma City, had 2007 revenue of $3.2 million and has 2008 projected revenue of $3.4 million. Post-acquisition, the company will operate as a fully-owned unit of Clockwork Home Services and will be managed by Deryk Ruth. As part of the agreement, the franchise will operate under the name of Hardesty Team’s One Hour Air Conditioning & Heating for a transitional period and will then be branded as One Hour Air Conditioning & Heating.

Under terms of the deal, Clockwork is assuming ownership, rights and use of the company’s assets, intellectual property, trucks, equipment and offices. Prior management and employees will remain at the company as Clockwork employees. Additional terms were not disclosed.

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