Buyer Dossier: Neighborly (KKR)

Buyer Profile

Platform

Neighborly (fka Dwyer Group)

Backer

KKR

Headquarters

Waco, TX

Revenue

~$4.1B system revenue

Verticals

HVAC (Aire Serv), Plumbing (Mr. Rooter), 28 home service brands

Acquisition Strategy

Franchise conversion and tuck-in acquisitions by brand

Key Contacts

Name	Title	Email	Notes
Tim Sedgwick	COO / Head of Operations	—	Running operations since 2020; oversaw 8+ brand additions
Neighborly Corp Dev	Corporate Development	—	Handles franchise conversion and tuck-in acquisition pipeline
Aire Serv Leadership	Brand President, HVAC	—	Aire Serv is Neighborly's HVAC franchise brand; NoVA territory open

Strategic Fit

Neighborly is the largest home services franchisor in the world with 28 brands and 5,500+ locations — and HVAC, through Aire Serv, is one of their core essential categories. The Northern Virginia corridor is a high-income, high-density residential market where Neighborly has franchise presence in adjacent trades but demonstrably weak HVAC coverage relative to the market's size and spend profile.

The competitive risk is real: Ally Services just picked off J Hood in Manassas, adding to their NoVA HVAC footprint. If Neighborly doesn't move on McLean, a competing platform — Aire Serv, Service Experts, or another national brand — will establish a stronger position in Fairfax County first. Air Control's existing customer base and brand recognition in McLean represent a faster path to market penetration than a greenfield franchise start.

Tim Sedgwick has been running Neighborly operations since 2020 and the platform has added 8+ brands in recent years — the integration infrastructure is built for this. A single-site HVAC operator in a proven market is a low-complexity bolt-on for a machine that already onboards franchise locations at national scale. KKR's backing ensures the capital to move quickly when the right asset surfaces.

Approach Strategy

Call Opener

"Neighborly just earned another spot on the 2026 Franchise 500 with 28 brands and 5,500 locations — and HVAC is one of the essential categories they're doubling down on. Air Control fits that thesis in a market they need to own."

1

KKR's platform is doing $4.1 billion in revenue across 10 countries, but the Northern Virginia corridor is exactly where Ally Services just picked off J Hood in Manassas — if Neighborly doesn't move on McLean, someone else in their backyard will.

2

Tim Sedgwick has been running operations at Neighborly since 2020 and they've added 8+ brands in the last few years — the integration muscle is there, and a single-site HVAC operator is a low-complexity bolt-on for a machine that onboards franchise locations at scale.

3

Air Control's existing customer relationships in McLean — a high-income Fairfax County zip code with one of the strongest residential HVAC service demand profiles on the East Coast — represent immediate recurring revenue that a new franchise start can't replicate for years.

Pipeline History

Step	Status	Date	Notes
Dossier Created	Complete	Mar 29, 2026	Initial buyer research and profile built
Outreach	Next	—	Target Neighborly corp dev + Aire Serv brand president; lead with NoVA gap angle
Intro Call	—	—	—
NDA / CIM Delivery	—	—	—