Neighborly® Acquires Junk King®, Expanding into New Service Vertical
WACO, Texas, Nov. 2, 2022 – Neighborly®, the world's largest home services company, acquired Junk King®, a leading junk removal and hauling service with over 150 locally owned franchises across North America. The deal closed on November 2, 2022, marking Neighborly’s entrance into an entirely new sector that aligns with its strategic goal to expand into recurring home service offerings.
Deal structure and financing
The exact financial terms of the acquisition were not disclosed. Boxwood Partners served as the exclusive sell-side advisor for Junk King in this transaction. No information is available regarding debt or equity financing used to fund the deal, nor whether any seller notes or other retained interests are part of the agreement. Given the undisclosed nature of the transaction’s value and structure, details on lock-up provisions or IPO optionality are unavailable.
Strategic context
Neighborly's acquisition of Junk King represents a strategic move into the $10 billion junk removal market by leveraging Junk King's strong brand reputation and recurring revenue model. Founded in 2005 and beginning franchising operations in 2010, Junk King has established itself as a leader in its segment through customer-centric practices that include recycling efforts to reduce landfill waste. With more than 150 franchises spanning North America, Junk King’s scale complements Neighborly's existing portfolio of home services.
The deal also aligns with Neighborly’s broader vision of becoming the “Hub for Home Services” by adding a non-traditional yet essential household service. Co-founder Michael Andreacchi’s decision to sell and remain connected as an investor underscores both his confidence in Junk King's future growth trajectory under Neighborly's ownership and the company's alignment with environmental sustainability goals.
Regulatory path
Details regarding regulatory oversight for this transaction are not publicly available at this time. Given the cross-border nature of Junk King’s operations (with Canadian franchises operating under the name Junk Works®), it is likely that antitrust authorities in both the United States and Canada were involved in reviewing the deal. However, no specific remedies or conditions imposed by regulators have been reported thus far.
The acquisition remains consistent with Neighborly's strategy to expand into new service verticals, enhancing its market presence while leveraging established brands like Junk King to create value for consumers through convenient, reliable home services solutions.