Hyndland Partners served as sell-side advisor to the shareholders of Greensleeves in their acquisition by US-based Neighborly, the multi-brand home service franchisor backed by KKR.
Greensleeves is a highly successful and fast-growing lawn service business. It was established in 1998 to provide customers with an all-year-round lawn treatment service, and now looks after more than 100,000 lawns across the UK.
David Truby joined Greensleeves in 2004, and through a series of MBOs became the majority shareholder in the business alongside his wife Laura Truby. David helped to grow the business from just two locations to over 100 franchise territories across the UK.
Neighborly is the world’s largest home services company. It owns a portfolio of over 30 home service brands across multiple sectors. This includes trusted brands such as Mr. Rooter, Drain Doctor and Pimlico. It has over 5,000 franchisees in six countries around the world.
David Truby offered the below comment on the representation provided by Hyndland Partners:
"Hyndland Partners provided exceptional service throughout the transaction. What really stood out was the management and orchestration of the bidding process, which resulted in multiple interested parties competing for the business. This helped to significantly raise the prices being offered, and gave us confidence that the true value of the business was being realised.
I was impressed by Hyndland Partners' ability to swiftly understand the Greensleeves business, and to predict what would happen at each stage of the process. The strength of Hyndland Partners' relationships were also extremely helpful, as well as their focus on the best outcome for employees and customers. They worked round the clock to get the deal done, and were always available to answer questions and offer advice. Their expertise in M&A and deal structuring really shone through, and we felt guided and supported at each step along the way. Their hands-on approach made a significant difference to ensuring the deal unfolded as envisaged."