Restoration Growth
PE Is Buying Your Competitors and Renting You Your Customers
1 min
Key Points
- Nearly 800 HVAC, plumbing, and electrical companies have been acquired by private equity since 2022. PE buyers now account for 50% of transactions in HVAC.
- The lead gen platforms independent contractors depend on are also PE-funded: Thumbtack (Blackstone), EverConnect (Mountaingate Capital), Angi (formerly IAC). Contractor invisibility funds both sides.
- Nexstar Network cut all PE-backed members in 2025, losing nearly half its revenue. CEO Julian Scadden: “We were in direct opposition of our own mission.”
- PE-backed companies buy at 6-7x EBITDA and target flips at 17x, compressing independent operator margins through marketing spend, insurance carrier relationships, and AI search dominance.
- A free growth assessment at bodyne.com/score shows how your AI visibility compares to PE-backed competitors in your market.
There is a pattern playing out in the restoration and home services industry that most independent contractors have not connected yet.
Two things are happening simultaneously.
Private equity firms are buying your competitors. And PE-funded platforms are renting you your customers.
The money flows in the same direction. Toward the firms. Away from you.