The Power of A Great Combination - SERVPRO & Blackstone
In early 2019, The Blackstone Group bought a majority stake in SERVPRO, a fire and water mitigation company with more than 1,700 franchise locations. SERVPRO was founded in 1967 and stayed a private company until The Blackstone Company partnership.
Blackstone is primarily known as a private equity and real estate business. It holds one of the largest real estate portfolios in the world. Finding an industry leading company that specializes in property mitigation and maintenance made this a perfect fit. Blackstone brings state of the art technology and vision to an antiquated industry. This is a huge separator for SERVPRO and continues add distance from the rest of the pack in the industry.
SERVPRO already had great relationships with the majority of insurance providers in the US but Blackstone inspired even more confidence from those insurance companies. Insurance companies appreciate that we have national coverage, large commercial structure experience, and work with them to standardize practices to make it easier for them and their customers.
Insurance customers like that at the very least they recognize our brand but most likely have also heard of the high level of service that is provided by each location. Contractors in general don't always get a good wrap due to being here one day and gone the next with your money. That will never be the case with a long standing, national, highly insured company. At SERVPRO, we are always here to help. We want to try to make it "Like it never even happened."