MINNEAPOLIS (April 4, 2018) — Yukon Partners (“Yukon”), a provider of mezzanine capital for middle market private equity transactions, is pleased to announce it has partnered with Sorenson Capital (“Sorenson”) and Webster Capital (“Webster”) in the recapitalization of their shared portfolio company, Home Brands Group Holdings, Inc. (d/b/a “Re-Bath” or the “Company”).
Re-Bath, headquartered in Phoenix, Arizona, is a national franchisor of turnkey bathroom remodeling services with locations in more than 150 cities across the United States. The Company’s one-stop shop solution covers a customer’s entire bathroom remodeling project – from design to done – in three easy steps: design consultation, demolition, and installation, with the latter two steps accomplished in typically 3-5 days. Re-Bath manufactures its own exclusive line of products in addition to offering the best national brands.
Yukon provided mezzanine capital to facilitate the transaction and acquired a minority equity interest. Dorsey & Whitney LLP served as legal counsel to Yukon.
LeGrand Lewis, Managing Director of Sorenson commented, “Following the successful implementation of an enhanced suite of franchise support services, this recapitalization with Yukon is an important next step for Re-Bath as we look to accelerate its expansion into new geographic markets.”
William Dietz, Managing Partner of Yukon, added, “We are thrilled to be partnering with management and the principals of Sorenson and Webster on this exciting next phase of growth at Re-Bath. The Company’s national franchise model favorably positions it to take advantage of the prevailing industry tailwinds currently benefitting the bathroom remodeling industry.”
About Re-Bath
Founded in 1978, Re-Bath is the nation’s largest complete bathroom remodeling franchise located in more than 150 cities across the country. The Company offers complete bathroom remodels, tub and shower updates, plus aging and accessibility solutions. From simple bathtub replacements to full bathroom redesigns, Re-Bath makes bathroom remodeling effortless, convenient and affordable, all with professional, friendly installation by factory-trained installers. Re-Bath manufactures its own exclusive line of products at its headquarters located in Phoenix, Arizona., along with offering the best national brands for its customers. For more information please visit www.rebath.com or www.rebathfranchise.com for more details on the franchise opportunity.
About Yukon Partners
Yukon Partners is an independent and unaffiliated junior capital provider, primarily serving middle market private equity sponsor led business transactions in the U.S. and Canada. The transactions in which Yukon invests include buyouts, growth and platform strategies, recapitalizations, mergers/acquisitions, and public-to-private buyouts. Yukon typically invests $10 to $50 million per transaction and currently manages approximately $1.2 billion across three funds. Yukon Partners is based in Minneapolis, Minnesota. For more information, please visit www.yukonpartners.com.
About Sorenson Capital
Sorenson Capital (www.sorensoncapital.com) is a private equity firm that makes small to middle-market buyout and growth equity investments. Sorenson Capital has more than $1 billion in capital under management and typically makes investments of $10 to $40 million in companies with unique strategic positions. Sorenson Capital is managed and controlled by West Rim Capital and is based in Salt Lake City, Utah.
For more information, please contact:
William Dietz
Managing Partner
Yukon Partners
612-435-7804