WACO, Texas (April 06, 2015) – Building an organization that drives global growth over multiple franchise brands has resulted in more than $1 billion in annual sales across Neighborly, formerly Dwyer Group, service brands and a prestigious seat on a national stage.
Mike Bidwell, President and CEO of Neighborly, will speak on a panel at the Franchise Times Dealmakers Awards Luncheon at the Franchise Finance & Growth Conference on April 21 in Las Vegas as a recipient of the 2015 Franchise Times Dealmakers awards.
The award recognizes the top players in mergers and acquisitions in franchising across the country. And Neighborly is on a hot streak.
“Interest in mergers and acquisitions across the franchising spectrum is stronger than ever, and we’ve enjoyed some tremendous success that continues to raise the bar for our organization and more than 1,700 franchises around the world. I look forward to sharing the incredible story of Neighborly and the key to building our successful brands,” Bidwell said.
In August 2014, Neighborly was reacquired by Riverside Company, a private equity fund with locations in North America, Europe and Asia. The following month, The Neighborly purchased the Germany Master License for Rainbow International to speed development abroad. And in January of 2015, The Neighborly purchased Five Star Painting to become the company’s eighth service brand. In addition, the company consistently saw blended double-digit same store-sales growth across all of their brands.
“Last year was an incredible time of change and growth throughout Neighborly,” said Bidwell, a key player in the transactions who is featured in the April issue of Franchise Times magazine.
During the acquisition with Riverside, Neighborly offered each brand president and department head the opportunity to buy shares in the company. “Every single brand president and department head took advantage of the opportunity and they wrote a check, so they had an equity stake,” Bidwell said. In addition, all staff members of The Neighborly shared in a $1 million dollar bonus distributed upon the closing of the deal.
Neighborly, based in Waco, Texas, is a holding company of eight franchise businesses, each selling and supporting a different franchise under the following service marks: Aire Serv®, Glass Doctor®, The Grounds Guys®, Five Star Painting®, Mr. Appliance®, Mr. Electric®, Mr. Rooter® (Drain Doctor® in the UK and Portugal), and Rainbow International®. Collectively, these independent franchise concepts offer customers worldwide a broad base of residential and commercial services. In addition, Neighborly® operates glass shops in New England under the Portland Glass® brand name. Neighborly is a portfolio company of The Riverside Company®, a global private equity firm. The firm’s international portfolio includes more than 75 companies. More information onNeighborly, or its franchise concepts, is available at www.dwyergroup.com.
Neighborly is also on Twitter at @DwyerGroup.