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Neighborly – Growth Story

Good Neighbors

Riverside held Neighborly for over three years, but was no stranger to the company, having been majority owners once before, from 2003-2010.

Just as they did during the first hold period, Riverside made heavy investments to source, complete and integrate add-ons to Neighborly. Riverside also boosted Neighborly’s management team with a new general counsel, CFO, chief strategy and marketing offices and European manager. This helped drive organic growth and ensure smooth add-ons throughout the hold.

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Riverside's Growth Strategy

Add It Up Double arrows
Offering Expansion Double arrows
Unifying Brand Double arrows
Driving Growth Double arrows

Riverside grew Neighborly through new services and sales strategies with a focus on improving the digital go-to-market approach. Its 11 add-ons included new brands and concepts in North America and Europe.

As Neighborly expanded, the team focused on consolidating concept infrastructure and leveraging technology to drive operating leverage, improve speed and agility for implementing change, and increase EBITDA at exit. The Riverside team added new services and sales strategies that further drove value

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Meeting Many Needs

Riverside and the company created a single-brand strategy for the company to facilitate cross-selling among all the brands and services the company offered. What was known as Dwyer Group became Neighborly. The strong, trusted brand:

  • Unified the company’s concepts under one umbrella
  • Improved cross-selling
  • Increased the value of the company

Img Neighborly GroundguysA Focus on Sales

Beyond a renewed push to cross-sell, Riverside helped Neighborly build a data-driven marketing ecosystem that helped the company expand.

Img Neighborly MrrooterFranchise Sales

The franchise sales pipeline increased steadily and significantly over the hold period, driving dramatic growth in royalties.

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Invested
May 2018
Status
Exited
Industry
Franchisors
Region
North America
Business Unit
Riverside Strategic Capital
Strategy
Flexible Capital
The incredible support of Riverside has dramatically shaped the trajectory of our growth to be a dominant leader in the service trades for helping people repair, maintain and enhance their properties. Mike Bidwell | President & CEO

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Growth stories should not be relied upon for investment decision making. They should not be considered an offer or solicitation of securities or investment services. For informational purposes only and intended for General Partners or Management teams considering partnering with The Riverside Company.