PE firms across the country have been scooping up home services like HVAC, as well as plumbing and electrical companies, hoping to profit by running larger, more profitable operations. Their growth marks a major shift, taking home-services firms away from family operators by offering mom-and-pop shops seven-figure and eight-figure paydays. It is a contrast from previous generations, when more owners handed companies down to their children or employees.
“The trades are hard work. A lot of today’s society, picking up a shovel is foreign to them,” he says.