NewSpring Franchise Completes Controlling Investment in Leading Residential Services Franchise Green Home Solutions

Investment will be used to grow brand on national scale

RADNOR, Pa., Sept. 26, 2023 /PRNewswire/ -- NewSpring ("the Firm"), a family of private equity strategies, announced today that NewSpring Franchise, the Firm's strategy dedicated to investing in innovative franchise and multi-unit concepts, has completed a controlling investment in Green Home Solutions, a leading home services franchisor providing mold remediation and indoor air quality services. This investment will be used to support an accelerated growth plan to scale the business nationally in new markets while launching new services to provide customers holistic indoor air quality solutions.

Green Home Solutions creates a clean indoor air environment by providing mold remediation, indoor air quality improvement services, odor removal, and allergen control solutions to a wide range of residential and commercial customers across 35 states. The business provides an environmentally friendly approach to remediation services, never using harsh chemicals and practicing strict adherence to IICRC- and EPA-approved guidelines. The franchise currently operates through over 70 franchisees across more than 200 territories in the U.S. With NewSpring's support, Green Home Solutions intends to rapidly expand its footprint over the next several years.

"The residential services market is experiencing significant growth due to the consumer demographic and behavior trends of increasing homeownership rates, the outsourcing of home services, and the rising average age of houses. Mold remediation and air quality control services will benefit from these trends and largely remain unaffected by macroeconomic downturns," said NewSpring General Partner, Satya Ponnuru. "Green Home Solutions has established itself as a leader with strong franchisees and a unique service offering. We look forward to working with Jeff Panella and the management team as they continue to rapidly scale the business."

"Green Home Solutions has experienced significant growth with a strong franchisee base since its founding in 2014. We are now at an inflection point to make additional investment in our infrastructure to accelerate growth further," said Jeff Panella, President and CEO of Green Home Solutions. "NewSpring Franchise has a proven track record of supporting emerging franchisors, and we look forward to working with them and their value creation network to reach new levels of growth."

This transaction is the first investment made by NSF II, NewSpring Franchise's dedicated investment fund, and is consistent with the strategy's approach to investing in established multi-unit services businesses with a strong customer value proposition, proven unit-level economics, and exceptional management teams in the lower-middle market. NewSpring Franchise is led by Satya Ponnuru and Pat Sugrue, who bring over 50 years of combined investing and operating experience in multi-unit brands. Recent investments in consumer service franchise brands include Blo Blow Dry Bar and Central Bark.

About NewSpring
NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $3.0 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 200 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com.

About Green Home Solutions
With more than 200 locations throughout the United States, Green Home Solutions has established itself as the benchmark for indoor air quality within the franchising sector. Our comprehensive suite of indoor air quality services utilizes environmentally friendly practices to tackle mold, mitigate indoor air pollutants, eliminate odors, and protect properties from moisture-related problems.  In addition to being named a "Top Franchise in 2023" by Franchise Business Review, Green Home Solutions also nabbed "Top Recession-Proof Franchises" and "Top Low-Cost Franchise" recognitions as well. Contact Green Home Solutions today at 1-800-SOLUTIONS or visit our website at greenhomesolutions.com to take the first step towards a healthier home or workplace.

SOURCE Green Home Solutions