Neighborly Acquires the U.K.'s Dream Doors, Its 22nd Service Brand
Neighborly, formerly Dwyer Group, has been on a buying spree since being acquired in mid-2018 by Harvest Partners, a New York-based private equity firm.
The latest acquisition is Dream Doors, which has 91 locally owned and operated franchise showrooms in the U.K. Dream Doors specializes in fully fitted kitchen makeovers, bedroom wardrobes, replacement doors and countertops, and installing new appliances.
The acquisition brings Neighborly's brands to a total of 8 brands and four campuses based in Europe. Globally, the deal increases the number of Neighborly's brands to 22, with $2 billion in annual system-wide revenue and nearly 3,700 franchisees.
"Dream Doors has delivered on its promise of 'new life for old kitchens and bedrooms' for the past 20 years, making the brand a perfect complement to Neighborly Brands' community of premium home services," said Mike Bidwell, president and CEO of Neighborly in a press release.
Based in Portsmouth in the south of England, Dream Doors was founded to provide kitchen makeovers, and expanded to offer custom wardrobes in bedrooms. Following the acquisition, founder and Chairman Troy Tappenden will be stepping down and departing the company. Dream Doors will continue to be overseen by Managing Director Philip Carr, who has been instrumental in implementing the brand's long-term expansion strategy since 2017.
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