Trade Concentration in PE Platforms

HVAC and plumbing are the most consolidated home services trades by PE acquisition activity, with roughly 12-15% of mid-market operators acquired as of 2026. Electrical is less consolidated at 6-8%, and roofing is the least consolidated due to labor model challenges.

“HVAC and plumbing are the most consolidated home services trades by PE acquisition activity. Roughly 12 to 15 percent of mid-market HVAC and plumbing operators have been acquired by a PE platform as of 2026. Electrical is less consolidated, sitting around 6 to 8 percent. Roofing is the least consolidated of the four core trades because the labor model (heavy crew-based, weather-dependent) is harder to standardize across acquired locations.”

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