Harris Williams Advises Neighborly on its Pending Sale to KKR
July 08 2021 - 11:17AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it is advising Neighborly, a
portfolio company of funds managed by Harvest Partners, LP (Harvest
Partners), on its pending sale to KKR. Neighborly is the premier
residential service provider focused on providing all the services
that consumers need to repair, maintain and enhance their property.
The transaction is being led by John Neuner, Brent Spiller, Trey
Shehan, and Christian Brumbaugh of the Harris Williams Consumer
Group and Taylor Morris and Pete Morgan of the firm’s Business
Services Group.
“This is the fourth time we have worked with the Neighborly team
and it has been exciting to see the continued growth and evolution
of the business into one of the largest global home services
companies,” said John Neuner, a managing director at Harris
Williams. “The company thrived under Harvest Partners’ ownership,
and we are excited to have found a new partner for Neighborly in
KKR that shares management’s vision and passion to ‘Own The Home’
by providing all the services that a home owner needs.”
“Investors remain focused on the home services sector because of
its strong fundamental demand drivers across economic environments,
the increasing focus of today’s consumers on maintaining and
enhancing their home, and the opportunity for larger platforms of
scale to differentiate in a fragmented market,” said Brent Spiller,
a managing director at Harris Williams. “We expect those
fundamentals to continue to drive a very active and dynamic M&A
market within the home services sector going forward.”
Neighborly is a leading home services franchisor of 28 brands
and more than 4,800 franchises collectively serving more than 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 across 18 service categories at Neighborly.com in the
United States and Neighbourly.ca in Canada.
Founded 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 and industrial
services, consumer, healthcare, industrials and software
industries. This strategy leverages Harvest Partners' 40 years of
experience in financing organic and acquisition-oriented growth
companies.
KKR 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.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Consumer Group has completed transactions
across a variety of verticals, including branded consumer products;
consumer services; food, beverage and agribusiness; and restaurant
and retail. For more information on the Harris Williams Consumer
Group and recent transactions, visit the Consumer Group’s section
of the Harris Williams website.
The Harris Williams Business Services Group has experience
advising companies that provide a range of commercial, industrial
and professional services. For more information on the firm’s
Business Services Group and other recent transactions, visit the
Business Services Group’s section of the Harris Williams
website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210708005677/en/
For media inquiries, please contact Julia Moore at
media@harriswilliams.com.
PNC Financial Services (NYSE:PNC)
Historical Stock Chart
From Mar 2024 to Apr 2024
PNC Financial Services (NYSE:PNC)
Historical Stock Chart
From Apr 2023 to Apr 2024