Blackstone Recapitalizes SERVPRO
04.01.19
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Simpson Thacher represented Blackstone in connection with the recent recapitalization of SERVPRO. Investment funds affiliated with Blackstone’s Core Private Equity strategy acquired a majority stake in SERVPRO. Members of SERVPRO’s founding family reinvested alongside Blackstone and will continue to be significant shareholders in the business going forward. Financial terms of the transaction were not disclosed.
Founded in 1967 by the Isaacson family, SERVPRO is a leading national franchisor, providing services in both residential and commercial property mitigation, restoration and reconstruction following damage related to water, fire, mold or storm activity.
The Simpson Thacher team included Elizabeth Cooper, William Allen, Lanna Lan, James Nguyen, Amanda Ng and Justine Chiu (M&A); Lori Lesser and Melanie Jolson (IP); Greg Grogan, Jeannine McSweeney and Eric Wolf (ECEB); Drew Purcell and Tyler Robbins (Tax); Brian Gluck, Matt Farrell, Christine Marshall and Oliver Sall (Banking and Credit); Krista McManus (Real Estate); Adeeb Fadil and Noreen Lavan (Environmental).