WACO, Texas, Feb. 19, 2024 /PRNewswire/ -- Neighborly®, the world's largest home services company, announced today during this year's annual International Franchise Association ("IFA") convention that it officially surpassed $4 billion in systemwide sales and 5,500 franchises globally in 2023, a milestone year during which the company's continued success garnered an unparalleled wave of private equity investments across the global franchisor's flagship brands.
"The substantial private equity investments we've attracted across our flagship brands is a major achievement that reinforces the market's confidence in our strategic vision and highlights Neighborly and our brands as a valuable investment," said Jon Shell, interim Chief Executive Officer of Neighborly.
The record-breaking year brought notable investments from multiple private equity sponsors:
- In May of 2023, Eagle Merchant Partners announced its investment in Impact Home Services, an independent owner and operator of three franchises within Neighborly, serving Metro Atlanta and broader Georgia. Impact operates franchises for leading brands Mr. Rooter® Plumbing, Mr. Electric® and Precision Garage Door Service™.