Blackstone close to buying franchiser Servpro for $1B - report

Monday, 18. March 2019 21:46

Private equity firm Blackstone Group L.P. is close to an agreement to acquire cleaning and restoration services provider Servpro Industries Inc. for more than $1 billion, The Wall Street Journal reported on Monday.

Blackstone has emerged as the top bidder for Servpro, which manages a network of more than 1,700 franchises which provide fire, water, mold, and other cleanup and restoration services to residential and commercial customers, in an auction run by investment bank Harris Williams & Co., people close to the matter told the media outlet.

Blackstone recently agreed to acquire the German internet portal Scout24 for €5.7B.

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