KKR To Buy Home Services Platform Neighborly; Terms Not Disclosed

Global investment firm, KKR & Co. Inc. (KKR) Thursday said it has agreed to acquire Neighborly, a provider and franchisor of home service brands, from Harvest Partners. Financial details of the transaction were not disclosed.

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

Neighborly is a home services platform that connects more than 10 million residential and commercial customers through a portfolio of 28 brands. These include plumbing, pest control, restoration, electrical, cleaning, HVAC, home inspection and many more. It has a network of more than 4,800 franchises both in the U.S. and internationally.

KKR said it is making the investment in Neighborly from its North American private equity fund.

In the deal, Harris Williams is acting as financial advisor to Neighborly, with White & Case acting as a legal advisor.

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