Waco, TX Doug Dwyer, president of DreamMaker Bath & Kitchen by Worldwide, has purchased full ownership of the national remodeling franchise from his mother Theresa Dwyer, the company announced.
Terms of the transaction were not disclosed.
The purchase of the Waco, TX-based company will permit Theresa Dwyer to "ease into retirement" and will give Doug Dwyer "the power to continue building support for existing franchise owners while expanding the franchise network at an aggressive pace," the company said.
"It was always my goal to own my own company and help build it from both the executive and ownership levels," Dwyer commented.
"As president of the company, I've had a very focused vision for making DreamMaker Bath & Kitchen a household name for the finest remodeling services," Dwyer said. "We've grown significantly in recent years, increasing our expertise, building our brand and gaining praise at the highest national levels.
"Now, representing the second generation to lead DreamMaker, I want to make sure that the company stays within my family for a strong and healthy future."
DreamMaker Bath & Kitchen by Worldwide originally was purchased as Gnu Tub by Dwyer's father, Don Dwyer Sr., in 1987. Dwyer Sr. changed the company's name to Worldwide Refinishing and expanded it to franchise locations.
Theresa Dwyer assumed ownership of Worldwide Refinishing in 1994, after Dwyer Sr. died. Doug Dwyer began managing the company in 1997, transforming it into a full-service remodeling business and changing the company's name to DreamMaker Bath & Kitchen in 1999. The company has about 190 franchises in 11 countries.