Keller Williams has sold an investment stake to private equity firm Stone Point Capital, a move designed to “accelerate long-term growth,” according to a press release from the company.
“This is an exciting milestone for all Keller Williams agents and franchisees,” said Gary Keller, co-founder and executive chairman of Keller Williams. “We’ve built an incredible foundation and as we focus on each agent’s personal development and their continual sales growth, we welcome the partnership and backing from the team at Stone Point Capital.”
Keller adds, “With their commitment, we will also be exploring new ways to make sure top agents and franchisees who drive the growth of our business are able to share in its future success.”
Keller Williams, Stone Point Capital, and a new CEO
While the financial terms of the deal haven’t been disclosed, Stone Point Capital “has a strong track record of partnering with winning businesses in the industry to help them scale,” the release explains. The company boasts more than USD $55-billion of assets under management—including industry players like Lone Wolf Technologies and CoreLogic.
As part of this transition, Christopher Czarnecki has been named CEO and president, bringing more than 20 years of experience in real estate and business leadership. “The partnership with Stone Point is all about success – giving us the ability to continue to innovate, expand and provide even more value to franchisees, agents, and their clients.”, KW’s new CEO says.
Czarnecki comes with two decades of real estate experience. As the former CEO of Broadstone Net Lease, a real estate investment trust, he led the company’s IPO
Gary Keller: “I’m not going anywhere.”
Keller says he has no intentions of leaving, “I’m excited for the future and I’m excited to be entering the most prolific writing, teaching and coaching phase of my 48-year career in real estate. I love this company and I’m not going anywhere.”
Jordana is the editor of Real Estate Magazine. You can reach her by email.