July 12, 2021
KKR has agreed to acquire Neighborly, a provider of home service brands
Founded in 1981, Neighborly is a 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’ homes and properties. Through a portfolio of 28 brands, Neighborly offers a wide array of services including plumbing, pest control, restoration, electrical, cleaning, HVAC, home inspection and many more. Neighborly has built a network of more than 4,800 franchises both in the U.S. and internationally.
Mike Bidwell, President and CEO of Neighborly, said, “Today’s 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’s 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.”
Felix Gernburd, Managing Director at KKR, added, “In 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 – most importantly – 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’s lives by delivering amazing experiences.”