Owners of existing home services companies looking to acquire a competitor or expand into a new trade. PE groups and search funds targeting residential HVAC, plumbing, electrical, or roofing platforms. First-time buyers who want experienced financial guidance before they sign.

What size deals do you work on?

Our clients typically acquire companies doing $1M–$30M in revenue. We’ve supported deals as small as a single-truck operation being folded into an existing platform, and as large as multi-location acquisitions backed by PE capital. The common thread is home services — that’s where our operational knowledge makes the biggest difference. Will their customers actually stay once you take over? We put real numbers on the savings and synergies most buyers just guess at, and build a plan you can actually execute in the first 90 days.

Acquisition Support

Q: What does the post-acquisition value creation plan include?

A structured 90-day roadmap covering financial integration, chart of accounts cleanup, reporting and KPI setup, pricing optimization, and operational quick wins. We prioritize the changes that generate measurable ROI in the first quarter post-close.

Acquisition Advisory

Buy smarter. Build value from day one.

You’re acquiring a home services company — or thinking about adding one to your existing operation. We help you understand exactly how this deal will impact your business, underwrite the real numbers, negotiate the right terms, and build a value creation plan before you wire the funds. PE-trained financial diligence, built for HVAC, plumbing, electrical, and roofing acquisitions.

Discuss a Deal →

The Risk

Most buyers overpay — because the seller’s numbers tell a better story than the business does

Home services acquisitions look simple on paper. Revenue is growing, trucks are rolling, the owner says margins are healthy. But the financials you’re looking at were built for tax minimization, not deal evaluation — and the gaps can cost you millions.

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EBITDA is inflated with unsustainable add-backs

The seller adds back every discretionary expense they can find — owner compensation, one-time repairs, that “marketing test” that’s actually recurring spend. Without someone who knows home services P&Ls inside and out, you’re valuing the business on a number that won’t hold up post-close. A $500K EBITDA overstatement at 6x means you just overpaid by $3 million.

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Revenue quality doesn’t match the topline

Not all revenue is created equal. Is it driven by one-time insurance jobs or recurring maintenance agreements? Are demand calls coming from Google Ads spend the new owner will have to maintain? Is 40% of revenue from three commercial accounts that could leave? Revenue quality determines what the business is actually worth — and most sellers don’t break it down for you.

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Operational risks hiding behind good topline numbers

The business does $8M in revenue but two senior techs generate 35% of it. The install crew is one retirement away from a six-month backlog problem. Truck costs are buried in COGS instead of tracked per unit. The ServiceTitan data doesn’t reconcile to QuickBooks. These aren’t dealbreakers — but they’re leverage in negotiation if you find them first.

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No plan to create value post-acquisition

You close the deal, and then what? Without a financial roadmap, most buyers spend the first 6–12 months just figuring out the business. Margins don’t improve because nobody’s identified the specific levers — pricing gaps, technician utilization, overhead allocation, marketing ROI by channel. The value creation window shrinks every month you’re not executing.

How We Help

From deal evaluation to post-close optimization — we’re in the details with you

We’ve sat on the buy side of 200+ home services acquisitions. We know where the real risks hide, what the numbers should look like, and where the margin improvement opportunities are before you close.

Deal Underwriting & Financial Analysis

We rebuild the seller’s P&L the way it should look — accrual-basis, normalized for owner compensation, with every add-back stress-tested. We model the business under your ownership assumptions: what revenue looks like without the seller’s relationships, what margins should be at benchmark, and what the realistic EBITDA is post-transition. You get a clear picture of what the business is actually worth.

Revenue & Customer Quality Analysis

We break revenue apart by type (service, install, maintenance), by channel (organic, paid, referral), and by customer concentration. We pull the ServiceTitan or field service data and reconcile it to the books. You’ll know exactly how sticky the revenue is, what’s at risk of walking out the door with the owner, and where the real growth opportunities are.

Operational Due Diligence Support

Beyond the financials — we evaluate technician productivity, fleet utilization, warranty rates, callback percentages, and department-level profitability. We know what good looks like in HVAC, plumbing, electrical, and roofing because we work with these businesses every day. If the seller claims 55% gross margins on installs, we’ll tell you whether that’s real or whether job costing is masking the truth.

Deal Structure & Term Advisory

We help you think through purchase price allocation, earnout structures, seller note terms, and working capital targets. We’ve seen how home services deals get structured from both sides — what protects the buyer, what incentivizes the seller to stay engaged through transition, and where deals fall apart post-close because the terms didn’t account for the business’s realities.

Negotiation Support & Number Defense

When you need to push back on the seller’s valuation, we give you the ammunition. Documented findings, benchmark comparisons, specific line items where the numbers don’t hold up — backed by data, not gut feel. We help you articulate why the multiple should be lower, why the earnout should be structured differently, or why the working capital peg needs adjustment.

Post-Acquisition Value Creation Plan

Before you close, we build a 90-day and 12-month financial optimization roadmap. Where are the margin leaks? What’s the pricing gap versus market? Which overhead costs can be consolidated? What does the P&L look like if you get technician utilization from 60% to 75%? You walk into ownership with a specific, dollar-quantified plan to improve the business — not a vague promise to “find synergies.”

Already Own a Home Services Company?

Thinking About Adding On?

Buying another company sounds great on paper. But will it actually make your business stronger — or just bigger? If you already run a home services operation and you’re looking at acquiring another one, we dig into the real overlap between the two businesses: shared service territory, trucks and equipment you can consolidate, office and admin roles you can combine, and whether their customers will stick around once the name on the truck changes.

We put real numbers on the savings and the costs — most of the benefits from combining two companies take 6 to 18 months to show up, not the 90 days people assume. You walk away knowing what the deal is actually worth to your business, not just what the seller is asking.

Let’s Look at the Numbers Together →

Why Profitability Partners

We’ve been on the buy side — and we know where the bodies are buried

200+ home services acquisitions reviewed

Our team comes from Apex Service Partners, one of the largest residential home services platforms in the country. We’ve evaluated over 200 HVAC, plumbing, electrical, and roofing acquisitions and seen every flavor of inflated EBITDA, revenue concentration risk, and operational red flag that these businesses produce. That pattern recognition is what makes our diligence different — we know exactly where to look because we’ve found these issues hundreds of times before.

We speak home services, not just finance

We understand the difference between demand service and planned maintenance revenue. We know that a 2% callback rate in HVAC is normal but 8% means something is wrong. We can read a ServiceTitan P&L by department and tell you whether the plumbing division is actually profitable or just looks that way because overhead isn’t allocated properly. Generic financial advisors can’t do this.

We tell you where the money is — not just where the risks are

Most diligence advisors hand you a list of problems. We hand you a list of opportunities. If the target is running 8% net margins and the benchmark is 15%, we’ll show you exactly which levers to pull — pricing adjustments, overhead reduction, technician productivity improvements, marketing spend reallocation — and model the dollar impact of each one. You’re not just buying a business; you’re buying a plan to make it better.

200+

Home services acquisitions reviewed

$4M–$30M

Revenue range of target companies

90 days

Post-close optimization roadmap

Questions

Frequently Asked

Who is this for?

Owners of existing home services companies looking to acquire a competitor or expand into a new trade, independent buyers acquiring their first home services business, and small PE firms or search funds targeting the HVAC, plumbing, electrical, or roofing space. If you’re evaluating a deal in the $4M–$30M revenue range and need someone who understands both the financials and the operations, we’re built for this.

Do you do Quality of Earnings reports?

No — we’re not a QoE firm and we don’t produce formal QoE reports. What we do is help you underwrite the deal from an operational and financial perspective: rebuilding the P&L, stress-testing add-backs, analyzing revenue quality, and identifying where the real margin opportunities are. Think of us as the industry-specific layer that sits on top of a QoE — we catch the things a generalist accounting firm misses because they don’t know home services.

What if I’m looking at my first acquisition?

That’s actually where we add the most value. First-time buyers don’t have the pattern recognition to know what’s normal and what’s a red flag in a home services P&L. We’ve reviewed 200+ of these deals — we can tell you quickly whether the business is priced fairly, where the risks are, and whether the opportunity matches what the seller is claiming. We’ll walk you through the entire process from LOI through close.

How early should I engage you in the deal process?

Ideally before you sign the LOI. The earlier we see the numbers, the better we can help you structure the deal and set realistic expectations on valuation. But we’ve also been brought in after LOI to do deeper financial analysis before closing — that works too. The worst time to call us is after you’ve already closed and realized the margins aren’t what you expected.

Can you help with bolt-on acquisitions for my existing company?

Absolutely — this is one of our sweet spots. If you already run an HVAC, plumbing, electrical, or roofing company and you’re looking to acquire a competitor or expand into a new trade, we help you evaluate the target against your existing operation. Where are the synergies real? What overhead actually goes away? Will the combined entity’s margins improve or dilute? We model the pro forma so you buy with confidence.

What does the post-acquisition value creation plan include?

A specific, dollar-quantified roadmap for improving the business in the first 90 days and 12 months. We identify the margin improvement levers — pricing adjustments, technician utilization improvements, overhead consolidation, marketing spend optimization — and model the financial impact of each one. You’ll know exactly what the P&L should look like at 6 months and 12 months if you execute the plan. No vague strategy decks — actual numbers tied to specific actions.

How do you figure out if buying another company will actually help my business?

We look at both operations side by side and get specific: Do their service routes overlap with yours, or do they open up new territory? Can your dispatch and office team handle the extra volume, or will you need more people? Are there trucks, tools, and equipment you can share? Will their customers actually stay once you take over?

Looking at a Deal?

Tell us about the target — the trade, the size, the stage of the process. We’ll give you an honest take on whether the numbers make sense and where we can help. No pressure, no sales pitch.

And if the deal closes? We don’t disappear. Most of our acquisition clients keep us on as their fractional CFO — we build the financial reporting, set up the chart of accounts, integrate the systems, and run the numbers month to month so you actually capture the value you paid for.