M&A Deal Summary

Frontdoor Acquires 2-10 Home Buyers Warranty

On June 4, 2024, Frontdoor acquired business services company 2-10 Home Buyers Warranty from Genstar Capital for 585M USD

Acquisition Highlights
  • This is Frontdoor’s 1st transaction in the Business Services sector.
  • This is Frontdoor’s largest (disclosed) transaction.
  • This is Frontdoor’s 2nd transaction in the United States.
  • This is Frontdoor’s 1st transaction in Colorado.

M&A Deal Summary
Date 2024-06-04
Target 2-10 Home Buyers Warranty
Sector Business Services
Buyer(s) Frontdoor
Sellers(s) Genstar Capital
Deal Type Add-on Acquisition
Deal Value 585M USD

Target

2-10 Home Buyers Warranty

Denver, Colorado, United States
2-10 Home Buyers Warranty is a provider of warranty services to builders, realtors, and homeowners and is the only market participant offering both new home and pre-owned home warranty products and home service contracts on a nationwide basis. 2-10 Home Buyers Warranty was founded in 1980 and is based in Denver, Colorado.

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Buyer(S) 1

Buyer

Frontdoor

Memphis, Tennessee, United States
Category Company
Founded 1971
Sector Business Services
Employees1,716
Revenue 1.8B USD (2023)
DESCRIPTION

Frontdoor is a provider of home service plans for customers to protect and maintain their homes from costly and unexpected breakdowns of essential home systems and appliances. Frontdoor was incorporated in 1971 and is based in Memphis, Tennessee.

DEAL STATS #
Overall 2 of 2
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Colorado) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-05 Streem

Portland, Oregon, United States

Streem, Inc. is a provider of the full platform (SDK and Web) that enables remote video collaboration, offers simple AR tools to make that experience as valuable as being on-site, and automatically captures relevant project or product data. Streem is based in Portland, Oregon.

Buy -

Seller(S) 1

SELLER

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.

DEAL STATS #
Overall 60 of 60
Sector (Business Services) 3 of 3
Type (Add-on Acquisition) 18 of 18
State (Colorado) 1 of 1
Country (United States) 54 of 54
Year (2024) 1 of 1
Size (of disclosed) 7 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 SEER Group

Lynnwood, Washington, United States

SEER Group is a provider of home services, including heating, ventilation, and air conditioning (“HVAC”), along with electrical and plumbing. SEER Group was founded in 2018 and is based in Lynnwood, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-23 Docupace Technologies

Culver City, California, United States

Docupace Technologies provides secure and federal and state law compliant electronic processing platforms for financial institutions and the wealth management industry. It offers a web-based straight-through processing platform that helps financial services firms meet SEC/FINRA compliance requirements. Docupace Technologies is based in Culver City, California.

Buy -
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