Wrench Group CEO sees substantial slowdown in HVAC deals and multiples

Ken Haines, CEO of PE-backed home-services platform Wrench Group, reports a substantial slowing of HVAC deal activity and declining multiples, attributed partly to higher interest rates, though he sees continued opportunity.

““We’ve seen substantial slowing down of deals, multiples coming down,” said Ken Haines, CEO of Wrench Group, which has home services businesses — concentrated in HVAC, electrical work, and plumbing — in 25 markets across 14 states.”

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