Merger was "seamless," says CEO
Revive Real Estate has snapped up another presale renovation company, HomePrep, for an undisclosed fee.
Revive is a prep-and-flip company that offers presale renovation services in all 50 states. The company has also onboarded HomePrep founder Josh Synder as head of its Mid-Atlantic operations as Revive establishes a new East Coast headquarters.
Michael Alladawi, CEO and founder of Revive Real Estate, commented: “The remarkable synergies between Revive and HomePrep make this merger seamless, allow us to bring on top talent with deep local knowledge and experience, give us boots on the ground for our East Coast presence, and help us significantly expand our existing footprint in the DMV (DC, Maryland and Virginia) area.”
“My mission in creating HomePrep was to scale,” Snyder said. “By becoming part of Revive, we are able to immediately offer more services to more homeowners than ever before. Our business models are nearly identical, and unlike most acquiring companies, Revive was immediately open to adopting new best practices that work better for markets in the DMV.”
“While Revive operates nationwide, we are striving to really understand the local markets and the regional markets so that we are guiding people with the right local knowledge,” said Dalip Jaggi, Revive COO and co-founder. “One of the best ways we can do that is for Revive to have someone with local expertise and why, in addition to organic growth, when we find the right fit for an acquisition like HomePrep, it helps us to expand intelligently and profitably.”
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