Harris Williams Advises Servpro Industries, Inc. on its Recapitalization by The Blackstone Group LP
Harris Williams, a global investment bank specializing in M&A advisory services, announced today that it advised Servpro Industries, Inc. (SERVPRO), a leading franchisor of residential and commercial property damage restoration services, on its recapitalization by private equity funds managed by The Blackstone Group LP (Blackstone). Blackstone is acquiring a majority stake in SERVPRO as part of Blackstone’s Core Private Equity strategy, which is designed to hold investments for longer periods of time than traditional private equity. The Isaacson family will be re-investing alongside Blackstone and will continue to be significant shareholders in the business going forward. The transaction, led by John Neuner, Brent Spiller, Zach Ledwith and Trey Shehan of Harris Williams’ Consumer Group, extends the firm’s track record in the franchising sector.
“We are excited to have seen first-hand the incredible business that the Isaacson family has built over the last 50 years. Through its dedication to its franchisees and consistent focus on its mission, vision and purpose, the family and management team built SERVPRO into the premier brand in its market,” said John Neuner, a managing director at Harris Williams. “We are proud to have found the Isaacson family and the entire SERVPRO team a fantastic partner in Blackstone as they usher in the next chapter of growth together.”
“Through its strategic investments in the company, SERVPRO is well positioned to continue achieving its core values in addition to ensuring its franchisees succeed for countless years to come. It is an honor to have led another marquee franchise transaction which represents our 10th deal in the space over the last 15 months. We look forward to extending our deep track record in this evolving sector,” added Brent Spiller, a managing director at Harris Williams.
Founded in 1967, the SERVPRO Franchise System is a leader and provider of fire and water cleanup and restoration services, and mold mitigation and remediation. SERVPRO's professional services network of more than 1,700 individually owned and operated Franchises responds to property damage emergencies ranging from small individual disasters to multi-million dollar large-loss events. Providing coverage in the United States and Canada, the SERVPRO System has established relationships with major insurance companies and commercial clients, as well as individual homeowners.
Blackstone is one of the world’s leading investment firms. The firm seeks to create positive economic impact and long-term value for its investors, the companies in which it invests and the communities in which it works. The firm does this by using extraordinary people and flexible capital to help companies solve problems. Blackstone’s asset management businesses, with $472 billion in assets under management, include investment vehicles focused on infrastructure, private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis.
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).
Harris Williams’ Consumer Group has completed more than 60 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on Harris Williams’ Consumer Group and other recent transactions, visit the Consumer 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 5th Floor, 6 St. Andrew Street, London EC4A 3AE, 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: firstname.lastname@example.org). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. awaited). 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.