HVAC & Home Services
Heating, cooling, plumbing, electrical, and home repair
What PE Ownership Means for This Industry
20-40% price increase
PE roll-ups are driving up home service costs 20-40%
PE firms are aggressively acquiring local HVAC, plumbing, and electrical companies, then raising prices knowing consumers have limited alternatives for emergency repairs.
Source: Consumer Reports, 2024
PE-Owned Brands
AirX Climate Solutions
Owned by Gryphon Investors
Specialty HVAC and climate solutions manufacturer for niche commercial applications. A current Gryphon Investors portfolio company.
Apex Service Partners
PE-backed home services platform rolling up HVAC, plumbing, and electrical companies
Benjamin Franklin Plumbing
Plumbing franchise, part of Authority Brands
Champions Group
Owned by The Blackstone Group
Residential HVAC, plumbing, and electrical services platform. Odyssey Investment Partners invested in 2021; Blackstone acquired for $2.5B in 2025. Odyssey and management retain minority stakes
Coolsys (Ares Management)
Ares-backed commercial HVAC and refrigeration platform acquiring local operators nationwide
Horizon Services
HVAC and plumbing in the Mid-Atlantic, acquired by PE
Mister Sparky
Electrical services franchise, part of Authority Brands
Neighborly (formerly Dwyer Group)
KKR/Harvest Partners-backed franchise platform with 30+ service brands
One Hour Heating & Air
HVAC franchise, part of Authority Brands
Service Experts
HVAC service company operating across the US and Canada
ServiceMaster Restore
Owned by Roark Capital
Restoration and cleaning franchise with 850+ locations, owned by Roark Capital
Servpro
Owned by The Blackstone Group
Disaster restoration and cleaning franchise with 2,000+ locations, acquired by Blackstone
Thermal Technology Distribution Solutions
Owned by Gryphon Investors
Value-added distributor of thermal and HVAC technology products. A current Gryphon Investors portfolio company.
Wrench Group
Owned by Leonard Green & Partners
Leonard Green-backed HVAC platform rolling up local providers across the US