Philadelphia-based Zoom Drain announced that it received a strategic investment from MPK Equity Partners.
The new funding will support Zoom Drain’s efforts to further expand and support its franchisee base, build out additional corporate locations and strengthen its position as the leading provider of drain and sewer services in Philadelphia through both continued market share growth and acquisitions. Additional details of the investment were not made public.
Zoom Drain’s services are largely non-discretionary, focused on everything “below the drain”, making it a unique and compelling opportunity for motivated franchisees across the United States. Despite headwinds from COVID-19, the Zoom Drain system experienced meaningful growth in 2020 over 2019.
“Our entire management team and I view this partnership with MPK as an important milestone in the evolution and growth of our company, and we are very excited to welcome them to the Zoom Drain family,” said Jim Criniti, CEO of Zoom Drain. “With the additional resources MPK provides, we are even better positioned to support our franchisees and deliver quality results for our customers.”
Zoom Drain – a leading operator and franchisor of drain and sewer services – has steadily grown since its founding in 1995; however, over the past few years, its growth has accelerated as it refined its business model and began franchising with the help of industry veterans, Ellen Rohr and Al Levi. Concurrent with this transaction, Ellen Rohr has been promoted to president of Zoom Drain.
“We believe Zoom Drain is extremely well-positioned in both the home services sector and franchising in general,” said Patrick K. McGee, managing partner of Dallas-based MPK. “Not only are we delighted to be partnering with world-class operators in Jim Criniti and Ellen Rohr, but we are excited to support the growth of a market-leading franchise with a clearly differentiated offering in an attractive, recession resistant industry. Most of all, we are excited to support the incredible work that the Zoom Drain franchisees are doing to impact their communities and delight their customers.”
SOURCE – MPK Equity Partners