M&A Deal Summary

The Home Depot Acquires Harris Research

On January 9, 2006, The Home Depot acquired business services company Harris Research from Nautic Partners

Acquisition Highlights
  • This is The Home Depot’s 1st transaction in the Business Services sector.
  • This is The Home Depot’s 4th transaction in the United States.
  • This is The Home Depot’s 2nd transaction in Utah.
Investment Fate
  • Harris Research was divested to a consortium of buyers in 2011.
  • Harris Research was sold to a strategic buyer in 2019.

M&A Deal Summary

Date 2006-01-09
Target Harris Research
Sector Business Services
Buyer(s) The Home Depot
Sellers(s) Nautic Partners
Deal Type Add-on Acquisition

Target

Harris Research

Logan, Utah, United States
Harris Research is a franchisor of in-home consumer services in the United States and internationally. Harris Research was founded in 1977 and is based in Logan, Utah.

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Buyer(S) 1

Buyer

The Home Depot

Atlanta, Georgia, United States

Category Company
Founded 1978
Sector Retail
Employees470,100
Revenue 159.5B USD (2025)
DESCRIPTION
Entrance to Home Depot's corporate headquarters in Atlanta, Georgia.
Entrance to Home Depot's corporate headquarters in Atlanta, Georgia.

The Home Depot is a home improvement retailer. Home Depot operates more than 2,000 stores and home improvement centers across North America. The Home Depot was founded in 1978 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 4 of 18
Sector: Business Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 16
State: Utah M&A 2 of 2
Country: United States M&A 4 of 18
Year: 2006 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-09 CDRY Holdings

Logan, Utah, United States

CDRY Holdings, Corp. (ChemDry®) was the largest franchisor of carpet cleaning services in the world with 1,400 operators in the U.S. and over 400 additional operators in 45 countries around the world operating over 2,500 franchises in the US and 1,475 franchises overseas. ChemDry® was sold to The Home Depot.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-11 HD Supply

Atlanta, Georgia, United States

HD Supply is a wholesale distributor of a broad range of products and services to professional customers in the infrastructure, energy, maintenance, repair & improvement, and specialty construction markets. HD Supply was founded in 2007 and is based in Atlanta, Georgia.

Buy $3.5B

Seller(S) 1

SELLER

Nautic Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Nautic Partners is a private equity firm focused on middle-market company investments based in the US. Nautic looks to invest $50 to $400 million of equity in businesses valued between $100 million and $1 billion. Nautic's industry focus is business services, manufacturing, healthcare, and communications. Prospective investment structures include buyouts, recapitalizations, consolidations, and growth financings. Nautic prefers majority investment positions. Nautic Partners was formed in 1986 and is based in Providence, Rhode Island.


DEAL STATS #
Overall 6 of 47
Sector: Business Services M&A 1 of 8
Type: Add-on Acquisition M&A Deals 2 of 18
State: Utah M&A 2 of 2
Country: United States M&A 6 of 46
Year: 2006 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-09 CDRY Holdings

Logan, Utah, United States

CDRY Holdings, Corp. (ChemDry®) was the largest franchisor of carpet cleaning services in the world with 1,400 operators in the U.S. and over 400 additional operators in 45 countries around the world operating over 2,500 franchises in the US and 1,475 franchises overseas. ChemDry® was sold to The Home Depot.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-21 Oasis Outsourcing

West Palm Beach, Florida, United States

Oasis Outsourcing is a Florida-based Professional Employer Organization (PEO) serving almost 230,000 employees and 7,500 clients nationwide. Founded in 1996, it specializes in providing human resources services, employee benefits administration, payroll and tax administration, risk management services and staffing solutions to small- and medium-sized businesses throughout the United States. Oasis is accredited by the Employer Services Assurance Corporation (ESAC), ensuring the highest level of ethical, financial and operational standards in the PEO industry and has received SOC 1 Type II (formerly SAS 70) certification for its high level of accuracy and performance. Oasis, through its subsidiaries, is qualified to offer IRS-certified professional employer organization (CPEO) services.

Buy -