SERVPRO® Global DRT Acquires Live Oak Restoration

By: SERVPRO® | 0 Shares 255 Reads

March 21, 2024 // Franchising.com // ENCINO, CA - SERVPRO® Global DRT announced the acquisition of Live Oak Restoratio, a SERVPRO® franchisee headquartered in Charleston, South Carolina. Terms of the transaction were not disclosed.

Founded by CEO Brian Turpin, Live Oak services local markets and supports large national accounts across the country with a full suite of turn-key restoration and reconstruction services. In partnering with Live Oak and Mr. Turpin, SERVPRO® Global DRT plans to leverage its expertise in scaling SERVPRO® franchisees to the Charleston market. The new location will create an east coast hub broadening the Company’s geographic reach, further enhancing its ability to service national accounts.

As part of the transaction, Mr. Turpin will continue to oversee the National Accounts as President of National Accounts for the combined franchises.

Alan Reed, Co-Founder and CEO of SERVPRO® Global DRT, said, “We couldn’t be more excited to partner with Brian and the Live Oak team. Brian has cultivated a culture of excellence at Live Oak that exemplifies what we strive for at SERVPRO Global DRT – unmatched commitment to providing world-class support to our customers in their time of need.”

Mr. Turpin added, “I’ve long admired the business and work ethic Alan and his talented co-founders Manny Corral and Darryn Barber have developed at SERVPRO® Global DRT. I’m excited to collaborate with them and build upon the foundation our team has created at Live Oak as the partner of choice for large national real estate owners and operators.”

The acquisition follows Orangewood Partners’ (“Orangewood”) investment in SERVPRO® Global DRT in December 2023.

Eric Engler, Managing Director of Orangewood, said, “We are thrilled for Live Oak to be our first acquisition under the SERVPRO® Global DRT banner.”

Blume Partners served as legal advisor to Live Oak. Greenberg Traurig LLP served as legal advisor to the Company and Orangewood. Diameter Capital Partners provided debt financing the transaction.

SOURCE SERVPRO® Global DRT

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