Great investment opportunities in home services — and they're only expected to get better given social & economic trends. Ask us for an overview!
For years, Aaron Rice was skeptical when out-of-state investors offered to buy the plumbing #business he co-founded more than a decade ago. The 43-year-old assumed most of them knew little about skilled-trade work or his customers. They were just looking to make a buck. But in 2022, when approached by a local HVAC company backed by #privateequity, he changed his mind, figuring that they knew the business. “The trades are hard work. A lot of today’s society, picking up a shovel is foreign to them,” he says. Private equity, however, is no foreign player in the skilled trades these days. PE firms across the country have been scooping up home services like HVAC—that is, heating, ventilation and air conditioning—as well as plumbing and electrical companies. They hope 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 wave of investment is minting a new class of millionaires across the country, one that small-business owners say is helping add more shine to working with a tool belt. Read more from Te-Ping Chen: https://lnkd.in/ekrxDstP