Webster Capital and Sorenson Capital Acquire ReBath

by bkrigbaum@solagroup.com


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Phoenix — Jan. 4, 2010
Webster Capital announced its investment in ReBath, the
Arizona-based franchisor of residential bathroom remodeling services. Webster
led the transaction and invited Sorenson Capital to join as an equity
co-investor. Fifth
Street
Capital provided debt financing for the
transaction.

 

Founded in 1979, ReBath was the
first national franchisor to successfully provide one-stop turnkey bathroom
remodeling services. ReBath oversees 226 franchises across the
United
States
and internationally. With 211 domestic
franchises, 14 international, and one master franchise relationship. The Company
serves the residential markets in the U.S., Canada, the Bahamas, Bermuda, Puerto Rico, Trinidad, Belgium, the Netherlands, and Luxembourg.
ReBath also serves the hotel refurbishment market installing branded bathtub
liners, shower liners, and wall systems. ReBath’s brand recognition and
favorable product mix uniquely position the company to expand its brand and
market reach across the U.S. and global markets.

 

Webster and Sorenson are seeking
to capitalize on ReBath’s business opportunity by providing the company access
to a group of knowledgeable entrepreneurs and helping ReBath reach its full
potential under the leadership of CEO Dave Sanders. ReBath represents Webster’s
third franchise investment; the firm will leverage its deep industry experience
in both the franchise and consumer markets to support ReBath. Webster is
investing out of a $205 million fund and previous franchise investments include
Comfort Keepers, a home health company, and Jan Pro Holdings, a provider of
commercial cleaning services. Webster seeks to partner with businesses in the
consumer, healthcare services, and business to business sectors.

 

About ReBath

Headquartered near Phoenix,
Arizona, ReBath manufactures and installs bathtub liners, wall systems, shower
liners, and vanity tops in hotels and residential bathrooms across the U.S. and
internationally. The company began operations in 1979. ReBath sells its products
to residential customers through a network of franchisees and was ranked #1 in
its category by Entrepreneur’s Franchise 500 listing. ReBath also controls an
estimated 80% of the hotel bathroom liner retrofit industry.

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