Neighborly welcomes deal with HouseMaster

Neighborly has acquired US-based professional home inspection franchise HouseMaster.

No financial details were disclosed.

As a result of the transaction, Neighborly will comprise more than 4,000 franchise owners worldwide.

The target will operate alongside the buyer’s brands, which provide repair and maintenance services for the home.

Formed in 1979, HouseMaster is billed as one of the largest home inspection companies in North America.

The group houses more than 170 franchise owners which serve more than 300 territories across Canada and the US.

HouseMaster inspects visible roof covering materials, skylights and gutters, among other features, and identifies worn, damaged or missing components.

It carries out screening services pursuant to real estate transactions to determine possible elevated levels of radon gas.

The company also looks for evidence of wood-destroying insect activity, caused by termites or carpenter ants.

HouseMaster clients include buyers, real estate agents and sellers throughout the US.

Since its inception, the group has performed more than 3.50 million home inspections.

Mike Bidwell, chief executive of the acquiror, said: “HouseMaster is a perfect complement to our existing Neighborly brands and presents a tremendous opportunity to grow more franchise locations.”

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Combined, the two companies will serve more than 10.00 million clients across the buyer’s organisation.

Established in 1981, Neighborly claims to be the world’s largest franchisor of home service brands.

The company operates online platforms that connect customers to providers within their local communities.

Its brands include Bright & Beautiful, Dream Doors, Glass Doctors and Molly Maid.

According to Zephyr, the M&A database published by Bureau van Dijk, there have been just four deals targeting building inspection services providers announced globally in 2020 to date.

China’s Lets Holding Group is planning to raise CNY 440.00 million (USD 62.23 million) through a private placement in the largest of these.

In the second-biggest deal, Hickton Group acquired UK-based Cook Brown Building Control and Cook Brown Energy for GBP 3.53 million.

© Zephus Ltd

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