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.
Riverside's Growth Strategy
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
- Unified the company’s concepts under one umbrella
- Improved cross-selling
- Increased the value of the company
- May 2018
- North America
- Business Unit
- Riverside Strategic Capital
- Structured 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.CEO Mike Bidwell | Neighborly
More Growth Stories
Growth Stories are not intended to be illustrative for investment purposes and should not be relied upon for investment decision making. This should not be considered an offer or solicitation of securities or investment services. Information is for informational purposes only and intended for General Partners or Management teams considering partnering with The Riverside Company.