Servpro

Servpro is a franchisor of fire and water cleanup and restoration franchises in the United States and Canada.[1] The franchise system provides localized services as well as large-scale disaster recovery.[2] It is headquartered in Gallatin, Tennessee.

Servpro Industries, LLC
TypePrivate, Franchise
IndustryService
Founded1967
FounderTed and Doris Isaacson
Headquarters
Gallatin, Tennessee
,
USA
Number of locations
2,000+
Key people
Rick Isaacson, CEO
Rick Forster, President
John Sooker, COO & EVP
Todd Lindsey, CFO
Jeff Fields, CIO & VP
Matt Preston, VP & Chief Legal Officer
Michael Stahl, CMO & VP
Number of employees
450 (Corporate), 2,000+ Franchises
Websiteservpro.com

History

Ted and Doris Isaacson launched Servpro Industries in 1967 as a painting business in Sacramento, California.[3] With a background in cleaning and restoration, they transformed the company into a franchisor of cleanup and restoration specialists. After selling its first franchise in 1969, Servpro continued to grow, acquiring the Bristol-Myers Domesticare Division and its 175 franchises in 1979, and developing a highly regarded national franchise.[4][5][6]

Servpro relocated the corporate headquarters from Sacramento to Gallatin, Tennessee in 1988.[7] At the time of the relocation, Servpro consisted of 647 franchises. The company sold its 1,000th franchise in 2000.

To accommodate their growth, the Servpro headquarters moved to a facility of 140,000 square feet (13,000 m2) in 2005, which was expanded to 200,000 square feet (19,000 m2) in 2014. In 2015, 2016, 2017 & 2019, The Tennessean listed Servpro as one of Tennessee's top workplaces.[8]

Servpro consists of 2.000 franchises in the United States and Canada (as of 2023).[9]

In March 2019, The Blackstone Group acquired a majority stake in Servpro Industries, LLC,[10][11] for an amount reportedly exceeding US$1 billion according to the Wall Street Journal.[12] The Isaacson family reinvested and maintains minority ownership. Sue Steen (former CEO) and Randy Isaacson (former President) retired, and Rick Isaacson was promoted from EVP to Chief Executive Officer of SERVPRO. Rick Forster was promoted to President. John Sooker was promoted from National Accounts Division Manager to COO & EVP. Matt Preston was promoted to Chief Legal Officer & VP. Jeff Fields remained CIO and became VP. Todd Lindsey has been added to the team as Chief Financial Officer.

Services

Servpro provides residential and commercial water, fire, mold cleanup, and restoration services. Specialty services are provided by many franchises, such as biohazard cleanup, document restoration, electronics restoration, dry cleaning, and reconstruction.

Large-scale disaster recovery

Despite the franchise structure of numerous relatively small entities, Servpro has the capacity and organizational competence to respond to large-scale disasters, including major corporate and government contracts after Hurricane Katrina in 2005[13] and Hurricane Ike in 2008.[14][5] Servpro was contracted for drainage and restoration by government, commercial entities and numerous households after the 2010 Tennessee floods.[15] Similarly, Servpro was involved in restoration and reconstruction after Superstorm Sandy.[16][17]

See also

References
  1. Bassler, Erin (30 October 2016). "Damage restoration companies there for your worst day". telegram.com. GateHouse Media, LLC. Retrieved 7 January 2017.
  2. Chung, Heidi (29 October 2015). "El Nino: Some companies to benefit while others get hit". CNBC.com. CNBC LLC. Retrieved 7 January 2017.
  3. "Ted Allen Isaacson - obit". The Wilson Post. 24 January 2017. Retrieved 26 January 2017.
  4. "Entrepreneur 2016 Franchise 500®". Entrepreneur.com. Entrepreneur Media, Inc. 18 August 2016.
  5. "10 great franchise bets". cnnmoney.com. Cable News Network. 16 June 2011. Retrieved 7 January 2017.
  6. "Forbes: Top 20 Franchises for the Buck". Forbes. Archived from the original on February 11, 2012.
  7. Morris, Joe (27 June 2008). "ServPro Industries, Inc" (PDF). Nashville Business Journal. Retrieved 7 January 2017.
  8. "Governor Haslam, Commissioner Boyd Announce Servpro To Expand Current Operations In Sumner County". tn.gov. State of Tennessee Department of Economic and Community Development. 5 August 2015. Retrieved 7 January 2017.
  9. McCready, Brian (30 December 2016). "Tenant for Former Connecticut Food Bank Location in East Haven Announced". East Haven Patch. Patch Media. Retrieved 7 January 2017.
  10. "Servpro sold to private-equity group". www.bizjournals.com. Retrieved 2020-01-20.
  11. "Blackstone to acquire majority stake in restoration service franchisor Servpro". www.spglobal.com. Retrieved 2020-01-20.
  12. Gottfried, Jaewon Kang and Miriam. "Blackstone Nears Deal to Acquire Servpro Industries". WSJ. Retrieved 2020-01-20.
  13. Wells, Ken (30 September 2005). "French Quarter Features Little to Eat, but Plenty to Smell". wsj.com. The Wall Street Journal. Retrieved 7 January 2017.
  14. McDougall, Christopher (1 November 2005). "Disaster Cowboys". Inc. Inc. Retrieved 7 January 2017.
  15. Burden, Melissa (6 June 2010). "SERVPRO franchisees in Genesee, Saginaw counties help clean up properties in downtown Nashville, Tennessee damaged in May flood". Flint Journal. MLive Media Group. Retrieved 7 January 2017.
  16. Lynch-Morin, Kathryn (12 November 2012). "Saginaw Servpro team helping with Sandy cleanup in New Jersey". MLive. MLive Media Group. Retrieved 7 January 2017.
  17. Bates, Todd (9 September 2013). "Sandy left N.J. shore with massive mold problem". usatoday.com. USA Today. Retrieved 7 January 2017.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.