GREENWICH, Conn.--(BUSINESS WIRE)--Greenbriar Equity Group, L.P. (“Greenbriar”), announced that funds managed by Greenbriar completed the acquisition of Renuity (the “Company”), a tech-enabled home services platform, in partnership with Company management, from York Capital Management’s private equity group (“York Private Equity”) and other minority investors. Financial terms of the private transaction were not disclosed.
Renuity was founded in early 2019 to aggregate best-in-class home service providers across the United States. Renuity’s tech-enabled platform offers a variety of high demand replacement and remodeling products and services. Supported by an experienced management team, Renuity is focused on delivering exceptional customer experiences and has created hundreds of thousands of happier homeowners across the US who have entrusted their home improvement projects to Renuity.
“We are excited to partner with Greenbriar as we enter this next phase of Renuity’s growth,” said Daniel Gluck, CEO of Renuity. “Renuity is still in the early innings of our potential as a company. As we continue on our rapid growth journey, we could not ask for a better partner than Greenbriar given the firm’s significant experience and successful track-record of expanding and scaling tech-enabled services platforms like Renuity. With Greenbriar’s support, we will accelerate our growth while continually prioritizing a superior customer experience.”
“It has been a pleasure to partner with Daniel and the Renuity team over the last several years. Renuity has achieved transformational growth since our initial investment while greatly diversifying its service offering. We remain firm believers in the Company’s bright future; Greenbriar will be a terrific partner and, as continuing investors in the Company, we are excited to see what the next chapter holds,” said Robbie Shapiro, Managing Director at York Private Equity.
The investment by Greenbriar will support the management team’s growth and nationwide expansion plans, with a focus on investment in the Company’s technology, marketing, data & analytics, and other capabilities to continue enhancing Renuity’s service offerings and overall customer experiences.
“Renuity’s highly differentiated tech-enabled business model is a terrific fit for Greenbriar's strategy of partnering with businesses poised for significant growth,” said Niall McComiskey, Managing Partner at Greenbriar. “We are excited to partner with Daniel and his management team to further accelerate Renuity’s impressive track record of expansion while delivering extraordinary service and value to its customer base.”
Kirkland & Ellis LLP served as legal counsel to Greenbriar. Houlihan Lokey, Inc. served as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP and Akerman LLP served as legal advisors to the Company.
About Renuity
Renuity is a tech-enabled home services platform. The Company provides replacement and remodeling services across bath, window, garage coatings, closet and other diversified categories to homeowners nationally. Renuity elevates customer experiences through building trust, providing seamless service, a relentless focus on innovation, and relying on its industry-leading talent. For more information, please visit renuityhome.com.
About Greenbriar
Greenbriar is a middle market private equity firm with 20+ years of experience investing in market-leading services and manufacturing businesses. With $10+ billion of cumulative capital commitments, its investment strategy targets businesses led by experienced management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s deep sectoral expertise, strategic insight, and operating capabilities. For more information, please visit greenbriarequity.com.
About York Private Equity
York Private Equity, the private investing arm of York Capital Management, primarily targets control investments in middle-market businesses. Since inception in 2008, York Private Equity’s middle-market strategy has completed over 50 investments with aggregate transaction value in excess of $4 billion. York Private Equity has 14 dedicated team members. For more information please visit: https://www.yorkcapitalpe.com.
