FOR IMMEDIATE RELEASE
CLOCKWORK HOME SERVICES ACQUIRES DIAL ONE
Dial One Operations Being Integrated Into
Clockwork’s One Hour Subsidiary
Clockwork System Wide Sales Now Exceed $380 Million
SARASOTA, FL (May 24, 2006) - SARASOTA, FL Clockwork Home Services,
Inc. (Clockwork) today announced its acquisition of Indianapolis-based Dial One,
one of the nation’s leading service providers of high quality and reliable heating and
cooling systems. Clockwork will integrate Dial One into its subsidiary franchise, One
Hour Heating & Air Conditioning (One Hour), which is among the nation’s fastest
growing home services franchises. As a result, Dial One will operate in central
Indiana under the new name, Dial One Hour.
Under terms of the deal, Clockwork is acquiring ownership, rights and uses of all Dial
One trademarks, the Dial One name, and all other intellectual property and
ownership of Dial One’s facilities and operations in Indiana. Dial One currently has
189 employees. Management of both companies has approved the transaction.
Additional details of the transaction were not disclosed.
For 2006, Dial One had projected revenue of $28 million. With this acquisition,
Clockwork’s total system wide franchise and company-owned sales will exceed $380
“Clockwork’s acquisition of Dial One – one of the industry’s most respected heating
and cooling systems providers – marks yet another important milestone in our
company’s history,” said Jim Abrams, CEO, Clockwork Home Services, Inc. “Dial
One’s reputation for quality, excellent customer service and fair pricing make it a
natural fit with One Hour that continues to raise industry standards for on-time,
professional services delivered to customers in the heating and cooling services
Locally owned and operated in central Indiana since 1908, Dial One is an industry
leader in providing the highest quality and most reliable comfort systems. Dial One
technicians are respected for their high quality and reliable services. With over
16,000 customers under service agreement, Dial One is the communities’ choice for
fast response and assured comfort.
One Hour is among the fastest-growing HVAC franchises in the United States. In
2006, the company was ranked #24 on Entrepreneur Magazine’s list of “Top New
Franchises.” One Hour is the first company to promise its customers: “Always On
Time…Or You Don’t Pay A Dime!®” One Hour delivers this promise through high
professional standards, courteous service, fair and consistent pricing, a rigorous
code of ethics and a money-back guarantee. As of May 2006, there were 116 One Hour
franchisees (covering 153 territories in the US and Canada) and serving a total
population of nearly 20 million consumers.
About Clockwork Home Services (Formerly VenVest, Inc.)
Founded in 1998, Clockwork Home Services, Inc. establishes and builds nationally
branded franchises for the home services contractor market. Clockwork is dedicated to
improving the operations, efficiency, customer service and profitability of contractors in
the home services industry in North America through affinity group membership and
nationally branded services. Through the growth of its subsidiaries Benjamin Franklin
Plumbing and One Hour Heating & Air Conditioning, Clockwork is building a portfolio of
nationally branded companies to perform services in or around the home. As of May
2006, there were 108 Benjamin Franklin Plumbing franchisees (covering 174 territories).
For more information:
Contacts: Jayne Cohen
Robert F. Beckmann
Vice President, Secretary and General Counsel
Clockwork Home Services, Inc.