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Neighborly Acquires ShelfGenie
Neighborly’s third acquisition of 2020 grows franchisor to 27 service brands, with more than 4,300 franchises and nearly 1,000 associates across nine countries
WACO, Texas (Oct. 6, 2020) – Neighborly®, the world’s largest franchisor of home service brands, today announced the acquisition of ShelfGenie, a custom glide-out shelving solutions franchise headquartered in Atlanta, Georgia.
“The acquisition of ShelfGenie – the only nationwide franchise known for designing, building and installing custom pull-out shelving solutions into existing cabinets – furthers our strategy to ‘Own the Home’ through Neighborly’s home services,” said Mike Bidwell, president and CEO of Neighborly. “ShelfGenie’s high-quality service offerings and proven commitment to customer service make it an excellent complement to our existing portfolio of home service brands, providing an ideal opportunity for continued growth of the ShelfGenie franchise network and the Neighborly organization at-large.”
ShelfGenie was founded in 2000 in Richmond, Virginia, under the original name of Shelf Conversions. Since its 2008 rebranding and adoption of the franchise business model, the company has since grown its network to more than 50 franchise locations spanning 275 territories across the United States and Canada.
“As part of our organization’s Noble Purpose, our ShelfGenie franchise owners are committed to turning the frustration and pain points homeowners have throughout their homes into sources of joy and comfort,” said Andy Pittman, President of ShelfGenie. “It is through this dedication to our customers that we are projecting a record year in 2020 despite the challenges of an ongoing pandemic. Joining the Neighborly network will maximize our potential to achieve success in the years to come. I expect great things are in store for our franchise owners and their clients.”
As a result of this acquisition, ShelfGenie will now benefit from new tools for growth and enhanced exposure to Neighborly's 10 million customers who rely on Neighborly brands for their home service needs.
“Since we began franchising ShelfGenie 12 years ago, our goals have always revolved around franchise profitability and continued growth,” said Barry J. Falcon, Board Chairman and co-founder of ShelfGenie. “Now under the Neighborly umbrella, our opportunity to exceed those goals is better than ever before. Through the continued leadership of Andy Pittman and now Mike Bidwell, the future looks bright for the entire ShelfGenie system.”
Boxwood Partners, a Richmond, Virginia, middle market investment bank, served as sell-side advisor to ShelfGenie 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 franchisor of 27 service brands and more than 4,300 franchises serving 10 million+ customers in nine 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 in the United States and Neighbourly.ca in Canada. More information about Neighborly/Neighbourly, and its franchise concepts, is available at www.NeighborlyBrands.com and www.nbly.co.uk.
For more information, contact:
Lauren Caracciolo, BizCom Associates