Neighborly® Acquires Dryer Vent Wizard
Feb 25, 2020, 09:30 ET
Domestic acquisition expands franchisor to 24 brands, more than 3,900 franchise owners and over 900 associates across nine countries
WACO, Texas, Feb. 25, 2020 /PRNewswire/ -- Neighborly®, the world's largest franchisor of home service brands, today announced the acquisition of Dryer Vent Wizard, a professional dryer vent cleaning services franchisor headquartered in Farmington Hills, Michigan. The addition includes almost 100 Dryer Vent Wizard franchise locations across the U.S. and Canada, bringing Neighborly's network to more than 3,900 franchisees representing a total of 24 home service brands.
"We kicked off 2020 with a vision to 'Own the Home' through Neighborly's community of home service experts, and welcoming Dryer Vent Wizard to our family of franchise brands marks an exciting milestone in this pursuit," said Neighborly President and CEO Mike Bidwell. "In the 15 years since its inception, Dryer Vent Wizard's cleaning, installation, inspection and repair service offerings have earned high customer satisfaction ratings. We see tremendous opportunities to grow the brand to the next level, making this a great partnership for all parties."
As a result of this acquisition, Dryer Vent Wizard will now benefit from new tools for growth and enhanced exposure to Neighborly's nine million customers who rely on Neighborly brands for everything from painting to plumbing and nearly everything in between.
"Every day, we look for opportunities to enhance value for our franchisees, our employees and our investors," said Jason Kapica, President of Dryer Vent Wizard. "We believe that being a part of Neighborly will not only allow us to give back to our investors but will also bring added benefits to our Dryer Vent Wizard associates and franchisees, advancing us into the next growth stage of our business."
The Dryer Vent Wizard franchise system was founded in 2004 by David Lavalle, who is also the founder of Neighborly's own Mr. Handyman franchise network.
"As I've seen firsthand with Mr. Handyman, Neighborly has a proven track record of helping brands expand their presence to achieve growth goals through franchise development," said Lavalle. "I'm excited that another brand I started is teaming up with this respected and successful franchisor, and I am eager to see Neighborly's support help existing Dryer Vent Wizard franchisees realize their same store sales potential moving forward."
Boxwood Partners acted as financial advisor to Dryer Vent Wizard. For more information about Neighborly's service brands visit www.neighborlybrands.com.
About Neighborly®
Neighborly® is the world's largest home services franchisor of 24 service brands and more than 3,900 franchise owners serving 9 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 as a franchisor across 14 service categories at www.getneighborly.com in the United States and www.getneighbourly.ca in Canada. The company was founded in 1981 as Dwyer Group and is based in Waco, Texas. More information about Neighborly/Neighbourly, and its franchise concepts, is available at www.Neighborlybrands.com.
SOURCE Neighborly
