SERVPRO Recapitalization, Blackstone Partnership

We represented SERVPRO in its recapitalization transaction, in partnership with Blackstone, one of the world’s leading investment firms. Blackstone is acquiring a majority stake in SERVPRO as part of Blackstone’s Core Private Equity strategy, which is designed to hold investments for longer periods of time than traditional private equity. The Isaacson family will be re-investing alongside Blackstone and will continue to be significant shareholders in the business going forward. Financial terms of the transaction were not disclosed.

The deal team was led by Bass, Berry & Sims corporate attorneys Michael Holley and Mike Kuffner and included corporate attorneys Taylor Ashley, Elizabeth Bounds, Michael Hill, David Venturella and Kurt Vincent. Firm attorneys Stefanie Colletier advised on intellectual property matters; Curtis Fisher advised on executive compensation aspects; Mike Sontag, Bryan Metcalf and Nicholas Gaffney counseled on tax issues; and Luke Smith advised on antitrust matters.

“We are grateful for the opportunity to represent SERVPRO in this transaction, which continues to build our firm’s experience in private equity backed deals in the services-franchise space,” said lead team attorney Michael Holley.

To read the full press release issued by SERVPRO, click here. The transaction was highlighted in several media outlets, including:

Founded in 1967, the SERVPRO Franchise System is a leader and provider of fire and water cleanup and restoration services, and mold mitigation and remediation. SERVPRO’s professional services network of more than 1,700 individually owned and operated Franchises responds to property damage emergencies ranging from small individual disasters to multi-million dollar large-loss events. Providing coverage in the United States and Canada, the SERVPRO System has established relationships with major insurance companies and commercial clients, as well as individual homeowners.

The Bass, Berry & Sims corporate and securities practice encompasses mergers and acquisitions, capital markets transactions, corporate governance and shareholder activism. We serve as primary corporate and securities counsel to more than 35 public companies and have counseled on 150 deals ranging in size from $20 million to more than $15 billion over past two years. The team and our attorneys have been consistently recognized in leading industry outlets, including Chambers USA – ranked as a top corporate firm in Tennessee since 2003 – and M&A Advisor Award recipient for – “M&A Deal of the Year ($10MM-$25MM)” and “Healthcare and Life Sciences Deal of the Year (Over $100MM-$1B)” in 2018; and “M&A Deal of the Year (From $1B-$5B)” and “Corporate/Strategic Deal of the Year (Over $1B)” in 2017.

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