Latest acquisition adds a new service vertical and further solidifies the company’s intent to become the Hub for Home Services for consumers.
WACO, Texas — Neighborly®, the world’s largest home services company, announced today its acquisition of Junk King®, the nation’s top-rated junk removal and hauling company. Junk King has more than 150 locally owned franchises across 32 states and in Canada (as Junk Works®). This acquisition enters Neighborly into an entirely new service vertical and reinforces its position as the Hub for Home Services™.
“At Neighborly, we want to be the mainstream home services a homeowner typically needs on a reoccurring basis,” said Mike Bidwell, President and CEO of Neighborly. “We saw Junk King as another excellent opportunity to expand into a new service vertical with a brand that has a strong reoccurring business model and potential for growth. Junk King is one of a handful of scaled franchised companies operating in the $10 billion junk removal market today.”
Co-founder Michael Andreacchi started the company from his garage in San Carlos, California in 2005 and began franchising it in 2010. Today, the customer-centric brand prides itself on its unparalleled service and its goal to keep 60% of all materials it collects out of landfills by repurposing materials and recycling as much as it can. Junk King’s extra-large trucks — which are 20% bigger than its competitors’ — also work to decrease its carbon footprint while saving customers money at the same time.
“I never would have dreamed that we could grow Junk King into what it has become in the market today,” said Andreacchi. “This is due to the hard work and perseverance of our leadership team and employees, and further reinforced by our franchise owners, who believed in our vision and propelled the brand through their entrepreneurial drive. Now, with the opportunity for Junk King to join the largest home services company in the world, there’s no limit to how large this brand can become, and I’m certain this is the right step for the future.”
Lisa Merry, Chief Operating Officer for Junk King, has assumed a new role as Brand President. Merry has extensive experience in franchising with multiple prior leadership roles at Huntington Learning Centers, Coverall Health-Based Cleaning and School of Rock. Andreacchi will remain connected as an investor and Brand Ambassador for Junk King.
Neighborly recognizes that every associate plays a role in the overall value creation for the company. Junk King employees will be eligible to begin vesting into the Neighborly Associate Equity Program.
Boxwood Partners served as the exclusive sell-side advisor to Junk King for the transaction.
For more information about Neighborly’s service brands, visit www.neighborlybrands.com.
About Neighborly®
Neighborly is the world’s largest home services company with more than 30 brands and 5,000 franchises collectively serving 12 million+ customers in six 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 18 service categories at Neighborly.com or through the Neighborly App. More information about Neighborly®, and its franchise concepts, is available at Neighborlybrands.com.
About Junk King®
Founded in 2005, Junk King was started by two friends in a two-car garage in San Carlos, California. In 2010, the company began franchising. Today, Junk King is the second largest junk removal company in North America with over 150 units and 70 franchisees. In the next five years, Junk King plans to add an additional 125 franchisees and 400 units in key markets throughout North America. Junk King saves consumers time and money by eliminating unwanted clutter quickly and efficiently. Junk King is best known for its professionalism, advanced technology programs and commitment to recycling, repurposing and reusing materials. The brand is currently the highest rated service business in North America with a net promoter score exceeding 90.
For more information about Junk King, please visit http://www.junk-king.com/. To inquire about franchise opportunities, visit http://www.junk-king.com/franchising/.
SOURCE Neighborly