{"id":510738,"date":"2021-07-08T07:03:33","date_gmt":"2021-07-08T11:03:33","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-acquire-leading-home-services-platform-neighborly\/"},"modified":"2021-07-08T07:03:33","modified_gmt":"2021-07-08T11:03:33","slug":"kkr-to-acquire-leading-home-services-platform-neighborly","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-acquire-leading-home-services-platform-neighborly\/","title":{"rendered":"KKR to Acquire Leading Home Services Platform Neighborly\u00ae"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>KKR to Acquire Leading Home Services Platform Neighborly<sup>\u00ae<\/sup><\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nKKR, a leading global investment firm, announced today that it has agreed to acquire Neighborly<sup>\u00ae<\/sup> (the \u201cCompany\u201d), the world\u2019s largest provider and franchisor of home service brands, from Harvest Partners. Financial details of the transaction were not disclosed.\n<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20210708005304\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210708005304\/en\/<\/a><\/p>\n<p>\nFounded in 1981, Neighborly<sup>\u00ae<\/sup> is a leading home services platform that connects more than 10 million residential and commercial customers with a community of professional services focused on repairing, maintaining and enhancing consumers\u2019 homes and properties. Through a portfolio of 28 brands, the Company offers a wide array of services including plumbing, pest control, restoration, electrical, cleaning, HVAC, home inspection and many more.\n<\/p>\n<p>\nAs one of the largest franchisors of \u2018do-it-for-me\u2019 professional services, Neighborly<sup>\u00ae<\/sup> has built a network of more than 4,800 franchises both in the U.S. and internationally. Over the past decade, the Company has quickly grown its platform through the organic growth of its existing service brands and strategic acquisitions of complementary franchise service brands.\n<\/p>\n<p>\nMike Bidwell, President and CEO of Neighborly<sup>\u00ae<\/sup>, said, \u201cToday\u2019s milestone is a strong validation of our business-building strategy and differentiated ability to deliver essential home services. We are excited to embark on our next chapter of growth with KKR\u2019s support and global expertise and look forward to continuing to be a partner of choice for both customers and franchise owners in the years to come.\u201d\n<\/p>\n<p>\nFelix Gernburd, Managing Director at KKR, said, \u201cIn a large and highly fragmented industry, Neighborly stands out for its differentiated strategy of bringing together adjacent services under a diversified and tech-enabled platform, and \u2013 most importantly \u2013 for its unrivaled dedication to customer service. We are thrilled to be investing in the Neighborly team as they continue to execute on their mission: enriching people\u2019s lives by delivering amazing experiences.\u201d\n<\/p>\n<p>\nNicholas Romano, Partner at Harvest Partners, said, &#8220;We are pleased to have worked with Mike and his team to continue building the premier residential service provider providing services that consumers need to repair, maintain and enhance their homes. Thoughtful investments in technology and human capital have resulted in a platform positioned for accelerated growth in the coming years.&#8221; Harvest&#8217;s Neighborly investment team is led by Steve Eisenstein, Nicholas Romano and David Schwartz.\n<\/p>\n<p>\nKKR is making the investment in Neighborly<sup>\u00ae<\/sup> from its North American private equity fund.\n<\/p>\n<p>\nHarris Williams is acting as financial advisor to Neighborly<sup>\u00ae<\/sup>, with White &amp; Case acting as a legal advisor on the transaction.\n<\/p>\n<p>\nThe transaction is expected to close in Q3 2021, subject to regulatory approvals and other customary closing conditions.\n<\/p>\n<p><b>About Neighborly<\/b><sup>\u00ae<\/sup><\/p>\n<p>\nNeighborly<sup>\u00ae<\/sup> is the world\u2019s largest home services franchisor of 28 brands and more than 4,800 franchises collectively serving 10 million+ customers in nine countries, focused on repairing, maintaining and enhancing homes and businesses. The company operates online platforms that connect consumers to service providers in their local communities that meet their rigorous standards as a franchisor across 18 service categories at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.neighborly.com%2F&amp;esheet=52456826&amp;newsitemid=20210708005304&amp;lan=en-US&amp;anchor=Neighborly.com&amp;index=1&amp;md5=e33fd3ab2c79dfdb821a9c60b974d0c9\">Neighborly.com<\/a> in the United States and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.neighbourly.ca%2F&amp;esheet=52456826&amp;newsitemid=20210708005304&amp;lan=en-US&amp;anchor=Neighbourly.ca&amp;index=2&amp;md5=b9a3949b788e4c81b0abddaa482d944f\">Neighbourly.ca<\/a> in Canada. More information about Neighborly\/Neighbourly, and its franchise concepts, is available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.neighborlybrands.com%2F&amp;esheet=52456826&amp;newsitemid=20210708005304&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.neighborlybrands.com%2F&amp;index=3&amp;md5=1ef6277876ec699ba7c53a589fa7c852\">https:\/\/www.neighborlybrands.com\/<\/a>. To learn about franchising opportunities with Neighborly<sup>\u00ae<\/sup>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finfo.neighborlybrands.com%2Fentrepreneur-top-500%3Futm_campaign%3DBizCom%2520PR%26utm_source%3DBoilerplate&amp;esheet=52456826&amp;newsitemid=20210708005304&amp;lan=en-US&amp;anchor=click+here&amp;index=4&amp;md5=5f8b38751be2f15b3b2bf2eb0f12aba2\">click here<\/a>.\n<\/p>\n<p><b>About KKR<\/b><\/p>\n<p>\nKKR is a leading global investment firm that offers alternative asset management and capital markets, and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit, and real assets and has strategic partners that manage hedge funds. KKR\u2019s insurance subsidiaries offer retirement, life, and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR\u2019s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR &amp; Co. Inc. (NYSE: KKR), please visit KKR\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kkr.com&amp;esheet=52456826&amp;newsitemid=20210708005304&amp;lan=en-US&amp;anchor=www.kkr.com&amp;index=5&amp;md5=de5c8a508a604dc056274ff7962c3439\">www.kkr.com<\/a> and on Twitter @KKR_Co.\n<\/p>\n<p><b>About Harvest Partners<\/b><\/p>\n<p>\nFounded in 1981, Harvest Partners is an established New York-based private equity firm that focuses on investments in middle-market companies in the business services &amp; industrial services, consumer, healthcare, industrials and software industries. This strategy leverages Harvest\u2019s 40 years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.harvestpartners.com&amp;esheet=52456826&amp;newsitemid=20210708005304&amp;lan=en-US&amp;anchor=www.harvestpartners.com&amp;index=6&amp;md5=38300c09d49392eed5bf06f51cfd699b\">www.harvestpartners.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210708005304r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210708005304\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210708005304\/en\/<\/a><\/span><\/p>\n<p>\nFor Neighborly:<br \/>\n<br \/>Loren Brown<br \/>\n<br \/>+1 817 913-0194<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Loren@bizcompr.com\">Loren@bizcompr.com<\/a><\/p>\n<p>\nFor KKR:<br \/>\n<br \/>Cara Major or Miles Radcliffe-Trenner<br \/>\n<br \/>+1 212 750-8300<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:media@kkr.com\">media@kkr.com<\/a><\/p>\n<p>\nFor Harvest Partners:<br \/>\n<br \/>Catherine Clifford<br \/>\n<br \/>+1 212 599-6300<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:cc@harvestpartners.com\">cc@harvestpartners.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> New York United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Commercial Building &amp; Real Estate Software Construction &amp; Property Finance Building Systems Professional Services Technology Residential Building &amp; Real Estate<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210708005304\/en\/802367\/3\/kkr-logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210708005304\/en\/890096\/3\/NBLY-LO-US-NoTag-RGB-FullColor-0218.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>KKR to Acquire Leading Home Services Platform Neighborly\u00ae NEW YORK&#8211;(BUSINESS WIRE)&#8211; KKR, a leading global investment firm, announced today that it has agreed to acquire Neighborly\u00ae (the \u201cCompany\u201d), the world\u2019s largest provider and franchisor of home service brands, from Harvest Partners. Financial details of the transaction were not disclosed. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210708005304\/en\/ Founded in 1981, Neighborly\u00ae is a leading home services platform that connects more than 10 million residential and commercial customers with a community of professional services focused on repairing, maintaining and enhancing consumers\u2019 homes and properties. Through a portfolio of 28 brands, the Company offers a wide array of services including plumbing, pest control, restoration, electrical, cleaning, HVAC, home inspection &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-acquire-leading-home-services-platform-neighborly\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;KKR to Acquire Leading Home Services Platform Neighborly\u00ae&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-510738","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KKR to Acquire Leading Home Services Platform Neighborly\u00ae - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-acquire-leading-home-services-platform-neighborly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KKR to Acquire Leading Home Services Platform Neighborly\u00ae - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"KKR to Acquire Leading Home Services Platform Neighborly\u00ae NEW YORK&#8211;(BUSINESS WIRE)&#8211; KKR, a leading global investment firm, announced today that it has agreed to acquire Neighborly\u00ae (the \u201cCompany\u201d), the world\u2019s largest provider and franchisor of home service brands, from Harvest Partners. Financial details of the transaction were not disclosed. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210708005304\/en\/ Founded in 1981, Neighborly\u00ae is a leading home services platform that connects more than 10 million residential and commercial customers with a community of professional services focused on repairing, maintaining and enhancing consumers\u2019 homes and properties. Through a portfolio of 28 brands, the Company offers a wide array of services including plumbing, pest control, restoration, electrical, cleaning, HVAC, home inspection &hellip; Continue reading &quot;KKR to Acquire Leading Home Services Platform Neighborly\u00ae&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-acquire-leading-home-services-platform-neighborly\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-08T11:03:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210708005304r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-acquire-leading-home-services-platform-neighborly\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-acquire-leading-home-services-platform-neighborly\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"KKR to Acquire Leading Home Services Platform Neighborly\u00ae\",\"datePublished\":\"2021-07-08T11:03:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-acquire-leading-home-services-platform-neighborly\\\/\"},\"wordCount\":805,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-acquire-leading-home-services-platform-neighborly\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210708005304r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-acquire-leading-home-services-platform-neighborly\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-acquire-leading-home-services-platform-neighborly\\\/\",\"name\":\"KKR to Acquire Leading Home Services Platform Neighborly\u00ae - 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Financial details of the transaction were not disclosed. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210708005304\/en\/ Founded in 1981, Neighborly\u00ae is a leading home services platform that connects more than 10 million residential and commercial customers with a community of professional services focused on repairing, maintaining and enhancing consumers\u2019 homes and properties. 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