NewSpring, a family of private equity strategies, through NewSpring Franchise, the firm’s strategy dedicated to investing in franchise and multi-unit concepts, has made an investment in Green Home Solutions, a home services franchisor providing mold remediation and indoor air quality services.
Green Home Solutions works to create a clean indoor air environment by providing mold remediation, indoor air quality improvement services, odor removal and allergen control services to a range of residential and commercial customers across 35 states. This investment will be used to support the company’s growth plan to scale the business nationally in new markets while launching new services to provide customers with holistic indoor air quality services.
“The residential services market is experiencing significant growth due to the consumer demographic and behavior trends of increasing homeownership rates, the outsourcing of home services, and the rising average age of houses,” comments Satya Ponnuru, NewSpring general partner. “Mold remediation and air quality control services will benefit from these trends and largely remain unaffected by macroeconomic downturns.”