KKR to acquire the main Neighborly® home services platform

NEW YORK–(COMMERCIAL THREAD) – KKR, a leading global investment firm, today announced that it has agreed to acquire Neighborly® (the “Company”), the world’s largest supplier and franchisor of home service brands, of Harvest Partners. Financial details of the transaction were not disclosed.

Founded in 1981, Voisin® is a leading home services platform that connects more than 10 million residential and business customers with a professional service community focused on the repair, maintenance and improvement of consumers’ homes and properties. Through a portfolio of 28 brands, the company offers a wide range of services including plumbing, pest control, catering, electrical, cleaning, HVAC, home inspection and many more.

As one of the largest do-it-me professional services franchisors, Neighborly® has built a network of more than 4,800 franchises in the United States and internationally. Over the past decade, the company has rapidly grown its platform through organic growth of its existing service brands and strategic acquisitions of complementary franchise service brands.

Mike Bidwell, President and CEO of Neighborly®, said: “Today’s milestone is a solid validation of our business development strategy and our differentiated ability to deliver essential home services. We are excited to embark on our next chapter of growth with the support and global expertise of KKR and look forward to continuing to be a partner of choice for customers and franchise owners for years to come.

Felix Gernburd, Managing Director of KKR, said: “In a large and highly fragmented industry, Neighbourly stands out for its differentiated strategy of bringing together adjacent services under a diverse and technological platform, and – most importantly – for its unmatched dedication to Customer Service. We are thrilled to invest in the Neighbourly team as they pursue their mission: to enrich people’s lives by providing them with incredible experiences.

Nicholas Romano, Partner at Harvest Partners, said: “We are delighted to have worked with Mike and his team to continue building the premier residential service provider providing the services consumers need to repair, maintain and improve their homes. . Thoughtful investments in technology and human capital have resulted in a platform positioned for accelerated growth in the years to come. Harvest’s Neighborly investment team is led by Steve Eisenstein, Nicholas Romano and David Schwartz.

KKR invests in Neighborly® of its North American private equity fund.

Harris Williams acts as financial advisor to Neighborly®, White & Case acting as legal advisor on the transaction.

The transaction is expected to close in the third quarter of 2021, subject to regulatory approvals and other customary closing conditions.

About Neighborhood®

Good neighbor® is the world’s largest home services franchisor with 28 brands and over 4,800 franchises serving over 10 million customers in nine countries, focused on repairing, maintaining and improving homes and businesses . The company operates online platforms that connect consumers to service providers in their local communities who meet their rigorous standards as a franchisor in 18 service categories on Neighbourly.com in the United States and Neighbourly.ca in Canada. More information on Neighborly / Neighbourly and its franchise concepts can be found at https://www.neighbourlybrands.com/. Find out more about franchise opportunities with Neighborly®, Click here.

About KKR

KKR is a leading global investment firm providing alternative asset and capital management solutions, as well as insurance solutions. KKR aims to generate attractive returns on investment by following a patient and disciplined approach to investing, employing world-class people and supporting the growth of 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’s insurance subsidiaries offer pension, life and reinsurance products under the leadership of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For more information on KKR & Co. Inc. (NYSE: KKR), please visit the KKR website at www.kkr.com and on Twitter @KKR_Co.

About Harvest Partners

Founded in 1981, Harvest Partners is a New York-based private equity firm focused on investing in mid-market companies in the business and industrial services, consumer, healthcare, industry and software. This strategy builds on Harvest’s 40 years of experience funding organic growth and acquisition-driven companies. For more information, please visit www.harvestpartners.com.

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