The SERVPRO Story

2/28/2020 (Permalink)

Ted and Doris Isaacson

Ted and Doris Isaacson created SERVPRO in 1967 as a painting business in Sacramento, California. With a background in cleaning and restoration, Ted and Doris soon transformed the company into a franchisor of cleanup and restoration specialists.

After selling the first franchise in 1969, SERVPRO continued to grow, acquiring the Bristol-Myers Domesticare Division and its 175 franchises in 1979.

SERVPRO relocated its corporate headquarters from Sacramento to Gallatin, Tennessee, in 1988 to place itself within 600 miles of 50% of the U.S. population.

At the time of the relocation, the SERVPRO System consisted of 647 franchises.

The company's headquarters quickly became a key contributor in its community, and in 1991 the Nashville Business Journal named SERVPRO Industries, LLC, the Small Business of the Year. The company continued its impressive growth, selling the 1,000th Franchise in 2000. Learn more about our Awards and Recognition.

In 2005, SERVPRO Industries, LLC,  moved to a new 140,000-square-foot, state-of-the-art facility in Gallatin to provide more room for expansion.

On March 26, 2019, SERVPRO and Blackstone (NYSE:BX) announced that private equity funds managed by Blackstone (“Blackstone”) have recapitalized SERVPRO. Blackstone is acquiring a majority stake in SERVPRO as part of Blackstone’s Core Private Equity strategy, which is designed to hold investments for much longer periods of time than traditional private equity. The Isaacson family will be re-investing alongside Blackstone and will continue to be significant shareholders in the business going forward. 

Blackstone is one of the world's leading investment firms. They seek to create positive economic impact and long-term value for their investors, the companies they invest in, and the communities in which they work. 

More than 1,700 franchises are operating nationwide, and SERVPRO continues to grow. The need for experienced, trained, and professional cleanup and restoration experts is recession resistant, and the growth potential inside of a proven system presents an opportunity for prospective franchisees.

With a proud history, a positive current growth, and a bright future, SERVPRO will press on toward becoming the premier cleaning and restoration company in the world.