Servpro: Who Owns It and Other FAQs

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Who is Servpro owned by?
The Blackstone Group In March 2019, The Blackstone Group acquired a majority stake in Servpro Industries, LLC, for an amount reportedly exceeding US$1 billion according to the Wall Street Journal. The Isaacson family reinvested and maintains minority ownership.
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Leading restoration business Servpro offers services to both residential and commercial properties. Over 1,800 franchises have been established by the corporation, which has been in operation for more than 50 years throughout the US and Canada. We will address some frequently asked inquiries about Servpro in this post, such as who the company’s owners are and how many locations the company has.

Who is the owner of Servpro? The Isaacson family owns Servpro, a privately held business. Ted and Doris Isaacson established the business in Sacramento, California, in 1967. The son of the founders and CEO of Servpro today, Rick Isaacson, works in Gallatin, Tennessee.

How many ServiceMaster franchisees exist as a result?

In the restoration sector, ServiceMaster competes with Servpro. There are nearly 8,000 franchises for ServiceMaster’s many brands, including ServiceMaster Restore, ServiceMaster Clean, and Merry Maids, according to the company’s website.

Has Blackstone acquired Servpro? There have been speculations going around that the private equity company Blackstone had bought Servpro. These rumors are untrue, though. The company Servpro is still run and owned by a family.

Is Servpro traded publicly? As was already established, Servpro is a privately held business and is not traded publicly. This indicates that stock market investors cannot buy the company’s shares.

What is the Servpro location count? Over 1,800 franchises for Servpro exist in both Canada and the United States. These independent franchises offer various restoration services, such as water damage repair, fire damage restoration, mold removal, and others.

In conclusion, Servpro is a family-run business with more than 1,800 independently run franchise locations across the United States and Canada. Contrary to rumors, Blackstone does not own the business, and it is not listed on a stock exchange.

FAQ
And another question, what is tpa in restoration?

TPA refers to the Third-Party Administrator in the context of restoration. TPAs are businesses that handle insurance claims on the insurers’ behalf. TPAs collaborate with restoration businesses to manage the claims procedure for incidents involving property damage, such as water damage, fire damage, and mold remediation. The administrative parts of the claims process are handled by TPAs, who also analyze estimates, confirm coverage, and approve payments to restoration companies.

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