Private Equity Giant KKR Takes Control of Global Home Services Empire Neighborly

In a landmark transaction, KKR, one of the world’s most influential investment firms, has finalized its acquisition of Neighborly, a dominant force in the residential services industry. The move transfers ownership of the company from Harvest Partners, marking a significant shift in leadership and capital backing for the sprawling home services platform.

The Scale of Neighborly’s Operations

Neighborly operates as a sprawling network of home service providers serving millions across multiple continents. The platform encompasses 28 distinct service brands managing over 4,800 franchised locations worldwide, collectively delivering services to more than 10 million residential and commercial clients. The company’s service spectrum ranges from plumbing and electrical work to pest control, HVAC maintenance, restoration services, and property inspections—essentially covering nearly every dimension of residential and commercial property care.

Strategic Rationale Behind the Deal

The acquisition represents a calculated move by KKR to capitalize on a highly fragmented $400+ billion home services market. Felix Gernburd, a managing director at KKR, emphasized that Neighborly distinguishes itself through its tech-enabled platform architecture and unwavering commitment to customer excellence. The company’s ability to consolidate adjacent service categories under unified management while maintaining franchise brand independence creates a compelling investment thesis.

Neighborly’s Track Record and Growth Engine

Since its founding in 1981, Neighborly has built its reputation through consistent organic expansion coupled with strategic acquisitions of complementary franchise brands. Over the past decade, this dual-growth strategy has positioned the company as the world’s preeminent franchisor of outsourced home services. The platform operates digital marketplaces—Neighborly.com in the US and Neighbourly.ca in Canada—which serve as customer-to-provider connectors within local markets.

Mike Bidwell, the company’s President and CEO, characterized the transaction as validation of the business model’s resilience and scalability. Under KKR’s ownership, Neighborly is positioned to accelerate its expansion trajectory, leveraging the investment firm’s extensive network, operational expertise, and capital resources.

Forward-Looking Implications

The transition reflects confidence in Neighborly’s market positioning within a sector characterized by persistent fragmentation and ongoing consolidation. KKR’s involvement signals expectations for accelerated growth, potential geographic expansion, and continued platform innovation. With substantial resources now behind its franchise network, Neighborly is expected to intensify competition within the home services sector while potentially pursuing additional complementary acquisitions.

The transaction, which completed in the third quarter of 2021, marks the beginning of a new chapter for the 40-year-old enterprise, now backed by one of the global investment community’s most formidable capital management operations.