Legacy Service Partners Acquisitions

Legacy Service Partners has rapidly emerged as one of the fastest-growing home services consolidation platforms, completing 33+ HVAC, plumbing, and electrical acquisitions since launching in 2021. Founded by Rob Millock, Jake Sloane, and Frank Zhang, the Tampa-based platform has built a national footprint across 19 states with backing from Gridiron Capital and over $531 million in total capital raised.

Unlike traditional private equity rollups that emphasize rapid integration and standardization, Legacy Service Partners differentiates through what partners describe as a truly collaborative model. The platform maintains local brand autonomy while providing strategic support, shared services, and performance-based compensation structures that align ownership with company success rather than platform-wide stock options.

As of December 2024, Legacy operates 33+ brands serving customers across the Northeast, Southeast, Midwest, Southwest, and Western United States. The platform's vision to become "the nation's leading home services platform" is guided by three core values: We Win Together (collaboration over competition), Performance Over Politics (results-driven culture), and Today Not Tomorrow (bias toward action).

Platform Overview: Built for Partnership, Scaled Through Collaboration

Headquarters: Tampa, Florida
Founded: 2021
CEO & Co-Founder: Rob Millock
Co-Founders: Jake Sloane, Frank Zhang
Primary Backer: Gridiron Capital (partnership announced January 2023)
Total Capital Raised: $531 million
Service Lines: HVAC, plumbing, electrical, water heaters, indoor air quality
Current Portfolio: 33+ brands across 19 states
Platform Status (Jan 2023): 16 states, 28 brands
Platform Status (Dec 2024): 19 states, 33+ brands

Leadership Team

Rob Millock serves as CEO and co-founder, leading the company's strategic vision and partnership development. Millock emphasizes Legacy's differentiated approach: "We couldn't be more excited to partner with Gridiron as we rapidly scale our operations. The Legacy platform is well positioned to continue to distinguish itself as a leader in the residential services space."

Jake Sloane, co-founder, focuses on operational capabilities and growth strategy, stating: "We are excited to leverage Gridiron's experience within the residential services space to expand our capabilities and drive this next phase of growth."

Frank Zhang serves as co-founder alongside Millock and Sloane in the founding partnership.

The executive team includes:

• Patrick Morgan - CFO
• Martijn Oechies - COO
• Ricki Tishman - SVP Platform & Growth
• Sean Loboda - SVP People
• Andrew Schreiner - SVP of Finance
• Brian Cogan - VP of Business Development
• Ben Hummel - VP Partner Success
• Travis Piercefield - Director of Marketing
• Patrick Prommel - Director of Strategy & Implementations
• Nicole Hockley - Director of Human Resources
• Christine Chen - Director of Talent Acquisition

Regional Vice Presidents (RVPs) including Sydney Farrar and Aaron Rush oversee geographic market clusters, reflecting Legacy's regional organizational structure.

Private Equity Backing and Capital Structure

Gridiron Capital, a New Canaan, Connecticut-based private equity firm, announced its growth investment in Legacy Service Partners in January 2023. The partnership positioned the company for "accelerated growth and expansion in the highly fragmented residential services market."

Kevin Jackson, Managing Partner at Gridiron, stated: "We are proud to partner with Rob, Jake, Frank, and the entire Legacy team. The Company has a strong employee-centered culture, a shared vision of partnership, and a relentless focus on providing a superior customer experience."

Bradley Skaf, Principal at Gridiron Capital, added: "With a leading position across attractive geographies, exceptional local brands, a proven M&A track record, and strong leadership, Legacy is a differentiated platform with multiple avenues for continued growth."

Capital Structure:

• Lead Equity Investor: Gridiron Capital (Fund V)
• Debt Financing: Churchill Asset Management (lead left arranger), JPMorgan Chase Bank, Audax Private Debt, accounts managed by Hamilton Lane, Jefferies Credit Partners
• Additional Investors: WP Global Partners (invested July 2023), Ares Management, ZBS Partners
• Total Raised: $531 million
• Legal Advisors: Latham & Watkins LLP (Legacy), Benesch Friedlander Coplan & Aronoff LLP (Gridiron)
• Financial Advisor: Solomon Partners (Legacy), Houlihan Lokey (select transactions)

The financing structure mirrors successful home services platforms like T3 Services Group (The Riverside Company) and Apex Service Partners, combining equity capital for acquisitions with debt facilities for operational flexibility.

Complete Portfolio Breakdown (33+ Brands Across 19 States)

Pennsylvania: 3+ Brands (Strongest Geographic Concentration)

HL Bowman (Harrisburg, York, Lancaster, Reading, Allentown, Red Lion, Broomall PA + Charlotte NC + Milford CT)
Founded in 1946, HL Bowman has provided HVAC, plumbing, and electrical services for nearly 80 years across Pennsylvania and recently expanded into Charlotte, North Carolina. Bryan Enders leads the company as General Manager and serves as a vocal advocate for Legacy's partnership model.

Enders stated: "We're all working together to make Legacy better, but the way that most Legacy deals are structured, you're responsible for the upside of your company, rather than a lot of the other private equity deals which are just giving you stock options. At Legacy, whilst we want everybody to win, I'm getting compensation based on how well my business is doing."

McVay Plumbing, Heating & Cooling (Pittsburgh, PA)
Serving the Pittsburgh metropolitan area with 64 years of industry experience, McVay operates four locations providing plumbing, electrical, and HVAC services. Known for integrity and quality, the company achieved remarkable review growth after partnering with Legacy—adding 175+ reviews and an 11% overall increase from May 2024 forward through the platform's Liftify partnership.

Mr. Sewer (Pittsburgh, PA)
Pittsburgh's specialized sewer and drain services provider complements McVay's offerings in the western Pennsylvania market.

Minnesota: 5 Brands (Dense Market Coverage)

Blue Ox Heating and Air (New Hope, Rochester MN)
Serving the Twin Cities northern suburbs and Rochester with comprehensive HVAC services.

Paul Bunyan Plumbing & Drains (New Hope, Rochester MN)
Operating alongside Blue Ox in the same markets, Paul Bunyan provides specialized plumbing and drain services including trenchless pipe lining technology.

HomeWorks Plumbing Heating & Air (Eagan, MN)
Serving the southern Twin Cities suburbs with full-service HVAC and plumbing capabilities.

Comfort Matters Heating & Cooling (Maple Grove, MN)
Owner Corey Hickman shared: "The biggest change was we started to focus on the real operational efficiency of the company—pricing structures, profitability, team and leadership skills." The company serves the northwest Twin Cities suburbs.

EarlyBird Electric (St. Paul, Rochester MN)
Minnesota's specialized electrical services provider operating in both the Twin Cities and Rochester markets.

Ouverson Sewer & Water (Loretto, MN)
Specialized sewer and water services provider serving the western Twin Cities suburbs.

Minnesota's concentrated portfolio mirrors successful market clustering strategies employed by platforms like User Friendly Home Services in Kentucky and Wrench Group in major metropolitan areas.

Florida: 4 Brands (Growing Southeast Presence)

Sunshine Air Conditioning (Belleview, FL)
Central Florida HVAC specialist acquired through Clairfield International advisory in July 2024.

Buehler Air (Jacksonville, FL)
Announced in May 2023 as part of Gridiron's first post-partnership acquisitions, Buehler Air brought strong local reputation for exceptional customer service to the Jacksonville market. The partnership expanded Legacy's service lines and geographic footprint simultaneously.

Paradise Plumbing & Air Conditioning (Fort Lauderdale, FL)
Operating as Paradise Service Technologies (PST), this South Florida operation contributed to Legacy's ServiceTitan platform standardization efforts. Jason Rich, representing Paradise, stated: "Legacy recently has deployed committees for different areas within the company and they reached out to Paradise to join the tech committee. Through collaboration we have designed what our ServiceTitan platform should look like and what the Model Tenant should be."

Hers and His Plumbing, Heating and Air (Orlando, Naples, Pensacola FL + Nashville TN)
Multi-location operation spanning Florida and Tennessee. Owner Charlie Bonfe explained his decision to partner with Legacy: "It appeared that most of the other groups that were looking to acquire us just wanted our earnings. They weren't looking to form a team of contractors to help better each other. I've met some contractors that I will probably network with for the rest of my life."

The company's Nashville presence extends Legacy's footprint into Tennessee markets.

Nebraska: 1 Brand (Central Region Hub)

John Henry's Plumbing, Heating, and Air (Lincoln, Omaha NE)
Announced in April 2023 as part of the first post-Gridiron acquisitions, John Henry's serves Nebraska's two largest metropolitan areas. The company hosted Legacy's Central Region partner meeting for training, idea sharing, and strategic planning—demonstrating the platform's commitment to peer learning and collaboration.

New Jersey: 3 Brands (Northeast Market Build-Out)

C&C Air Conditioning Heating Plumbing (Belford, NJ)
Serving the New Jersey Shore communities with comprehensive HVAC and plumbing services. Chris Baker, owner, stated: "We just trusted them right away. Instantly core values were the same, they love people like we love people. It was just so easy and natural, we had to work with them."

Dwyer Services (Brick, NJ)
Operating in Ocean County providing HVAC, plumbing, and electrical services to coastal New Jersey communities.

NJ Pipe Doctor (New Jersey)
Legacy's most recent acquisition as of March 2025, adding specialized pipe repair and replacement capabilities to the New Jersey portfolio.

Massachusetts: 1 Brand

Winters Home Services (Needham, MA)
Owner Tim Flynn reported dramatic growth post-partnership: "My favorite aspect since partnering? Besides the money? We have doubled our annual revenue, and we've doubled our profit. A lot of strategic learning about the financials has really helped. We're going to pace out to be about $13 million, and back in Feb of 22, we were at 6."

The company's revenue trajectory from $6 million to a projected $13 million demonstrates Legacy's ability to drive organic growth through strategic support and operational improvements.

Colorado: 2 Brands

Lion Home Service (Fort Collins, CO)
Bart Palmer, owner, emphasized Legacy's supportive approach: "The attitude and the leadership have been very consistent, upbeat, very supportive, very helpful, and they want to succeed. It's nice having a partner that has your back. Also, I felt like I was never lied to—it's super important in business to have that transparency, have that honesty."

Poudre Valley Air (Fort Collins, CO)
Operating in the same Fort Collins market as Lion Home Service, providing HVAC-focused services.

Texas: 2 Brands (Initial Southwest Presence)

Lightfoot Mechanical (Weatherford, TX)
Serving the Fort Worth western suburbs with comprehensive mechanical services.

Black Plumbing Heating & Air (Abilene, TX)
West Texas HVAC and plumbing services provider expanding Legacy's footprint into smaller metropolitan markets.

Alabama/Georgia/Tennessee: Multi-Brand Operation

One Source Heating, Cooling, and Electrical Services (Birmingham, AL)
Announced in July 2024, One Source brought a mini-platform of its own acquisitions into Legacy's portfolio. Founded in 1996, the Birmingham-based company had grown through acquiring:

• Total Comfort Heating and Air (Birmingham, AL)
• Larry's Heating and Air Conditioning (Chattanooga, TN)
• Walker Brothers Heating and Air Conditioning (Albany, GA)

CEO Robby and his experienced leadership team continue operating the multi-state footprint under Legacy's umbrella, demonstrating the platform's willingness to acquire companies that have themselves pursued acquisition strategies.

Arizona: 1 Brand (Western Expansion)

AC Doctors (Gilbert, AZ)
Phoenix metropolitan area HVAC specialist providing services in Arizona's high-demand cooling market. The company participates in Legacy's platform-wide reputation management program through Liftify.

California: 1 Brand

Cool Air Solutions (Murrieta, CA)
Serving Riverside County in Southern California with HVAC services in one of the nation's fastest-growing regions.

Illinois: 2 Brands

American Trenchless Technology (Dekalb, IL)
Specialized trenchless pipe repair and replacement services.

Service Now Home Services (Dekalb, IL)
Full-service HVAC and plumbing provider operating in the same DeKalb market.

Indiana: 1 Brand

Illiana Heating & Air Conditioning (Cedar Lake, IN)
Serving the northwestern Indiana markets with comprehensive HVAC services.

Wisconsin: 1 Brand

Albiero Plumbing & HVAC (West Bend, WI)
Milwaukee area plumbing and HVAC services provider.

New Hampshire: 1 Brand

Triumph Home Services (Bow, NH)
Announced December 2024, Triumph marked Legacy's first entry into New Hampshire. Founded in 2020, the company built top-ranked Google and Yelp ratings through quality customer service. Owner/General Manager Devin Coleman stated: "Choosing Legacy Service Partners was a decision rooted in their unwavering commitment to excellence and support. Their partnership allows Triumph Home Services to focus on what we do best—serving our customers—while benefiting from their expertise, resources, and shared vision of long-term success."

Connecticut: 1 Brand (Part of HL Bowman)

HL Bowman (Milford, CT)
HL Bowman's Connecticut location extends the Pennsylvania-based company's reach into New England.

North Carolina: 1 Brand (Part of HL Bowman)

HL Bowman (Charlotte, NC)
Announced expansion into Charlotte represents HL Bowman's growth beyond its Pennsylvania core markets, leveraging Legacy's support for geographic expansion.

Strategic Approach: The Collaborative Partnership Model

Legacy Service Partners positions itself distinctly from traditional private equity-backed consolidation platforms through several key differentiators:

Performance-Based Compensation vs. Stock Options

Unlike platforms that offer selling owners stock options tied to platform-wide performance, Legacy structures deals where partners retain compensation directly linked to their individual company's performance. Bryan Enders of HL Bowman explains: "Most Legacy deals are structured [so that] you're responsible for the upside of your company, rather than a lot of the other private equity deals which are just giving you stock options."

This structure creates powerful alignment—partners who drive their own company's growth benefit directly rather than hoping for platform-wide success. It mirrors compensation models used by successful home services operators like Tommy Mello, who emphasize that individual company performance should drive individual rewards.

Committee-Based Best Practice Sharing

Legacy deploys committees across different operational areas where partners collaborate to solve shared challenges. Jason Rich of Paradise Service Technologies describes the tech committee's work: "Through collaboration we have designed what our ServiceTitan platform should look like and what the Model Tenant should be. This allows new partners to come in and know that it's fully defined—that we have a game plan, one that works, one that's been audited and tested."

Committee areas include:

• Technology - ServiceTitan platform standardization and optimization
• Marketing - Digital advertising, SEO, reputation management
• Operations - Dispatch efficiency, pricing structures, service delivery
• Finance - Financial reporting, KPI tracking, profitability analysis
• Human Resources - Recruiting, training, retention strategies

This collaborative approach contrasts with top-down mandates common in other platforms. Partners contribute expertise based on areas where their companies excel, creating peer-driven improvement rather than corporate-driven standardization.

Regional Structure for Peer Learning

Legacy organizes partners into geographic regions that meet regularly for training, idea sharing, and strategic planning. The Central Region gathering in Omaha (hosted by John Henry's) and Coastal/Southeast Region meeting in Jacksonville exemplify this approach.

Tim Hammack of Ark Plumbing noted: "Legacy has been great with the processes and procedures. They have been able to help organize us and achieve structure in areas that we have struggled with. Legacy removes some of the roadblocks."

Regional organization enables partners to learn from nearby companies facing similar market conditions, seasonal patterns, and competitive dynamics. It also facilitates operational collaboration like shared inventory during supply shortages or overflow call coverage during peak demand periods.

Brand Autonomy with Shared Services

Legacy maintains local brand names rather than rebranding under a unified identity. HL Bowman, John Henry's, Winters Home Services, and all portfolio companies continue operating under the names customers have trusted for decades.

The platform provides back-office support in areas where scale creates efficiencies:

• ServiceTitan Implementation - Standardized CRM platform with customized configurations
• Marketing & Lead Generation - Digital advertising management, SEO, local service ads
• Recruiting & Talent Acquisition - Centralized hiring processes led by Director Christine Chen
• Finance & Accounting - Unified financial reporting, cash management, regional controllers
• Strategic Planning - Director of Strategy & Implementations Patrick Prommel supports growth initiatives
• Reputation Management - Platform-wide partnership with Liftify for review generation

This shared services model preserves what home services leaders like Chris Hoffmann emphasize: local brand strength drives customer trust, especially in residential services where word-of-mouth and community reputation matter significantly.

Emphasis on Culture and Values

Multiple partners emphasized Legacy's cultural alignment as a key decision factor. Charlie Bonfe of Hers and His stated: "Most of the other groups that were looking to acquire us just wanted our earnings. They weren't looking to form a team of contractors to help better each other."

Chris Baker of C&C described the cultural fit: "We just trusted them right away. Instantly core values were the same, they love people like we love people."

Bart Palmer of Lion Home Service emphasized Legacy's transparency: "I felt like I was never lied to—it's super important in business to have that transparency, have that honesty, knowing that you can count on your partners means a lot."

Legacy's three core values guide the platform's approach:

1. We Win Together - Collaboration drives success; partners support each other and share victories
2. Performance Over Politics - Results matter more than hierarchy; impact supersedes titles
3. Today Not Tomorrow - Bias toward action and speed; rapid decision-making creates competitive advantage

These values contrast with bureaucratic processes that can slow decision-making in larger platforms. The emphasis on "Today Not Tomorrow" reflects the founders' entrepreneurial background and preference for execution over endless analysis.

Growth Timeline: From Launch to 33+ Brands

2021-2022: Platform Formation

Legacy Service Partners launched in 2021 with co-founders Rob Millock, Jake Sloane, and Frank Zhang assembling an initial portfolio of companies. While specific early acquisition announcements are limited in public records, the platform built to 28 brands across 16 states by January 2023.

The founders' vision centered on creating a differentiated home services platform where partnerships would be genuine collaborations rather than transactions. As stated in the company's original positioning: "Our capital is patient and flexible, and we provide our local partners with dedicated, bespoke support that helps them navigate the changing competitive dynamics of the home services industry."

January 2023: Gridiron Capital Partnership

The announcement of Gridiron Capital's growth investment marked a significant inflection point. With 16 states and 28 brands already operational, Legacy demonstrated proven acquisition execution and organic growth capabilities that attracted institutional private equity backing.

The partnership provided:

• Growth Capital - Funding for accelerated acquisition activity
• Operational Expertise - Access to Gridiron's Centers of Excellence
• Debt Financing - Churchill Asset Management led credit facility enabling continued M&A
• Industry Credibility - Gridiron's track record with Leaf Home and Erie Home validated the residential services thesis

Gridiron's investment positioned Legacy for the next phase: scaling from regional player to national platform.

2023: Post-Gridiron Acceleration

April-May 2023: Strategic Acquisitions

Legacy announced partnerships with John Henry's Plumbing, Heating & Air (Nebraska) and Buehler Air (Jacksonville, FL) in May 2023. These acquisitions demonstrated Legacy's dual strategy: entering new geographic markets (Nebraska) while building density in existing states (Florida).

June 2023: Pennsylvania and Florida Expansion

Legacy expanded its network with three new partnerships in Pennsylvania and Florida, adding to the HL Bowman Pennsylvania cluster and strengthening the Florida presence.

July 2023: Additional Equity Investment

WP Global Partners invested in Legacy Service Partners in July 2023, providing additional capital to support the platform's 16-state, multi-brand operations.

2024: Continued National Expansion

July 2024: One Source Brands Acquisition

The acquisition of One Source Heating, Cooling, and Electrical Services brought a multi-brand, multi-state operation into the portfolio. Based in Birmingham, Alabama, One Source had itself acquired Total Comfort (Birmingham), Larry's Heating (Chattanooga, TN), and Walker Brothers (Albany, GA).

This "platform-within-a-platform" acquisition demonstrated Legacy's flexibility in structure—willing to acquire companies that have themselves pursued growth-through-acquisition strategies. CEO Robby and his leadership team continue operating the combined entity.

December 2024: Northeast Expansion

Triumph Home Services joined Legacy as the platform's first New Hampshire brand. Founded in 2020, Triumph brought strong online ratings and a growing customer base to the portfolio. The acquisition extended Legacy's reach in New England beyond Massachusetts.

2025: Scaling Toward National Leadership

March 2025: NJ Pipe Doctor Acquisition

Legacy's most recent publicly disclosed acquisition brought specialized pipe repair and replacement capabilities to the New Jersey portfolio, complementing existing brands C&C Air Conditioning and Dwyer Services.

As of December 2024, Legacy operates across 19 states with 33+ local brands, representing significant growth from the 16 states and 28 brands at the Gridiron partnership announcement just 23 months prior.

Industry Context: The Collaborative Alternative in Home Services Consolidation

Legacy Service Partners competes in an increasingly competitive home services consolidation landscape where platforms differentiate through operational philosophy, cultural approach, and value creation strategies.

The Consolidation Wave: Why Private Equity Targets Home Services

Several factors drive private equity interest in HVAC, plumbing, and electrical services:

1. Recession Resistance - Essential services like heating repairs and plumbing emergencies get completed regardless of economic conditions
2. Recurring Revenue Potential - Maintenance agreements and service plans create predictable cash flows
3. Fragmented Market - Thousands of family-owned businesses create acquisition opportunities with limited competition
4. Baby Boomer Exits - Aging owners need succession solutions as next generations pursue different careers
5. Technology Arbitrage - Small operators lack sophisticated tools that platforms implement at scale
6. Multiple Arbitrage - Acquiring at 5-7x EBITDA and exiting at 9-12x creates value through scale alone

The residential services sector offers attractive characteristics that institutional investors seek: stable demand, essential nature, low customer concentration, and opportunities for operational improvement.

Legacy vs. Major Competitors

Wrench Group (Valor Equity Partners, Silver Lake) operates 100+ brands with over $3 billion in revenue, making it the largest home services platform. Wrench maintains brand autonomy similar to Legacy but operates at significantly greater scale with deeper financial resources.

Apex Service Partners (American Securities) runs 80+ brands emphasizing AI-powered sales coaching and technology-driven performance improvement. Apex focuses heavily on sales process optimization and real-time coaching during customer interactions.

Redwood Services (OMERS Private Equity) operates 60+ locations across HVAC, plumbing, and electrical services with a $500 million revenue target. Redwood emphasizes best practice sharing and operational excellence across its portfolio.

T3 Services Group (The Riverside Company) runs nine brands across Texas, Colorado, Washington, Idaho, and New Mexico. CEO Joe Finney leads a culture-focused platform that emphasizes initiatives like the "Culture Crew" for employee engagement.

User Friendly Home Services (Bruce Howard, PE-backed) operates 19+ companies with a founder's relationship-driven acquisition strategy. CEO Bruce Howard leverages Yellow Pages publishing relationships for deal sourcing.

Legacy differentiates through:

• Performance-based partner compensation rather than platform equity
• Committee-driven collaboration for operational improvements
• Regional peer learning structures for geographic cohorts
• Brand autonomy with shared services approach
• Cultural alignment emphasis in partner selection

The platform's approach appeals particularly to owners who want genuine collaboration rather than corporate mandates, direct accountability for their own performance, and ongoing involvement in the business they built.

ServiceTitan as Competitive Advantage

Legacy's emphasis on ServiceTitan platform standardization creates operational advantages. By collaborating through the tech committee to define "Model Tenant" configurations, new partners can immediately access optimized workflows rather than spending months configuring systems.

Jason Rich of Paradise Service Technologies explained: "This allows new partners to come in and know that it's fully defined—that we have a game plan, one that works, one that's been audited and tested, and that we can maximize the use case of their software immediately upon joining."

ServiceTitan integration provides:

• Unified Reporting - Standardized KPIs across all brands enable performance comparison
• Best Practice Transfer - Successful workflows can be replicated across companies
• Faster Onboarding - New acquisitions implement proven configurations rather than starting from scratch
• Marketing Integration - Lead routing, call tracking, and customer communication systems work seamlessly
• Financial Visibility - Revenue recognition, accounts receivable, and cash management consolidate effectively

Platforms that successfully implement unified technology systems—like how successful operators emphasize systems—create sustainable competitive advantages through data-driven decision-making and operational consistency.

Value Creation Thesis: Scaling Through Partnership

Legacy's growth strategy balances acquisition velocity with organic growth from existing partners. The platform's ability to scale depends on executing across multiple dimensions:

Acquisition Engine

Legacy has demonstrated consistent M&A execution:

• Pre-Gridiron (2021-2022): Built 28 brands across 16 states
• Post-Gridiron (2023-2024): Expanded to 33+ brands across 19 states
• Recent Acceleration: NJ Pipe Doctor (March 2025), Triumph (December 2024), One Source brands (July 2024)

The acquisition pipeline benefits from:

• Founder credibility - Millock, Sloane, and Zhang's operational backgrounds
• Partner testimonials - Existing owners advocate for the platform
• Flexible structures - Performance-based compensation creates customized deals
• Geographic focus - Regional clustering enables operational synergies
• Culture screening - Values alignment reduces post-acquisition friction

Organic Growth Through Partners

Multiple partners reported significant revenue growth post-partnership:

Winters Home Services: $6 million (Feb 2022) → $13 million projected (2024) = 117% growth
McVay Plumbing: 11% review growth, 175+ new reviews in months (reputation driving leads)
HL Bowman: Multi-state expansion into Charlotte NC

These organic growth achievements stem from:

• Marketing sophistication - Platform-level digital advertising expertise
• Operational efficiency - Pricing optimization, service delivery improvements
• Technology implementation - ServiceTitan workflows increase conversion rates
• Financial discipline - Enhanced reporting reveals profitability opportunities
• Talent acquisition - Better recruiting attracts top technicians

Multiple Expansion Potential

As Legacy scales toward 50+ brands and potential $500 million+ in revenue, the platform could command higher acquisition multiples:

Current Smaller Platforms: 6-8x EBITDA
Mid-Sized Platforms (Legacy's Target): 9-11x EBITDA
Large National Platforms: 12-15x EBITDA

If Legacy achieves $50 million in platform-level EBITDA (assuming 10% EBITDA margins on $500 million revenue), a 10x exit multiple would generate $500 million in enterprise value—providing returns for Gridiron, WP Global Partners, and partner rollover equity participants.

Strategic Exit Scenarios

Potential exit paths include:

1. Strategic Acquisition - Larger platforms like Wrench, Apex, or Redwood acquiring for geographic expansion
2. Secondary Buyout - Larger private equity firm acquiring from Gridiron at higher multiple
3. Continuation Fund - Gridiron maintaining ownership through fund continuation vehicle
4. IPO - Public markets offering (less likely given competitive landscape)

The most probable scenario involves strategic acquisition by a larger platform seeking Legacy's geographic presence, cultural reputation, and proven partnership model.

What Home Services Operators Can Learn

Legacy Service Partners' growth trajectory offers insights for business owners evaluating partnership options:

For Potential Sellers

1. Culture Alignment Matters - Partners consistently emphasized Legacy's values match as the decision driver. Charlie Bonfe's observation that "other groups just wanted our earnings" highlights the importance of cultural fit beyond valuation multiples.
2. Performance-Based Structures Create Better Alignment - Bryan Enders' comment about being "responsible for the upside of your company" rather than receiving platform stock options demonstrates alternative deal structures worth exploring.
3. Collaborative Models Reduce Post-Acquisition Regret - Bart Palmer's emphasis on transparency and honesty suggests operators should evaluate platforms on partnership quality, not just purchase price.
4. Ongoing Involvement Remains Possible - Most selling owners continue operating their businesses post-acquisition, suggesting partnerships don't require immediate retirement for founders not ready to exit operationally.

For Growth-Focused Owners

1. Shared Services Create Leverage - Tim Flynn's revenue doubling from $6 million to $13 million demonstrates the growth impact of strategic support, financial learning, and operational improvements.
2. Peer Learning Accelerates Improvement - Committee structures and regional meetings provide access to operators solving similar challenges in non-competing markets.
3. Technology Implementation Drives Results - ServiceTitan standardization enables faster decision-making through better data visibility and proven workflow configurations.
4. Marketing Sophistication Matters - McVay's 175+ review increase through Liftify partnership demonstrates platform-level capabilities that individual companies struggle to implement.

For Platform Builders

1. Regional Clustering Creates Synergies - Legacy's concentration in Pennsylvania (HL Bowman multi-location), Minnesota (5 brands), and Florida (4 brands) enables operational leverage.
2. Committee Structures Scale Knowledge Transfer - Technology, marketing, operations, and finance committees enable peer-driven improvements that scale better than corporate mandates.
3. Performance-Based Compensation Attracts Quality - Differentiated deal structures appeal to high-performing owners who want accountability for their results rather than platform-wide exposure.
4. ServiceTitan Standardization Accelerates Integration - Platform-level technology decisions reduce implementation time for new partners while maintaining customization flexibility.

Future Outlook: Building the Nation's Leading Platform

Legacy Service Partners' vision to become "the nation's leading home services platform" requires continued execution across acquisition, organic growth, and operational excellence dimensions.

Several factors will influence success:

Favorable Conditions:

• Continued Baby Boomer retirements creating acquisition opportunities
• Gridiron Capital's resources and Centers of Excellence supporting operational improvements
• Partner testimonials generating organic deal flow through referrals
• Regional clustering creating operational leverage as geographic density increases
• ServiceTitan partnership enabling technology-driven performance improvements

Potential Challenges:

• Rising interest rates increasing acquisition financing costs and reducing returns
• Competition from larger platforms (Wrench, Apex, Redwood) for quality acquisition targets
• Integration complexity as portfolio scales beyond 50+ brands
• Economic recession potentially pressuring residential service demand
• Technician shortage limiting organic growth regardless of marketing investments

The platform's emphasis on collaboration, performance-based compensation, and cultural alignment positions it distinctly from competitors. Whether Legacy reaches 50+ brands independently or merges with a larger platform, the company's partnership-first approach offers a compelling alternative in an industry increasingly dominated by financial engineering and operational standardization.

For the home services industry, Legacy represents evidence that collaborative models can scale effectively. The platform's growth from 28 to 33+ brands in 18 months while maintaining partner satisfaction (evidenced by testimonials) suggests that genuine partnerships, not just financial transactions, can drive sustainable value creation.

As CEO Rob Millock stated: "We aspire to build the highest quality network of home service companies in the United States." That vision—emphasizing quality over quantity, partnership over ownership, and collaboration over control—may ultimately prove more durable than platforms built purely on financial engineering and operational mandates.

Legacy's Acquisition Strategy and Future Outlook

Legacy differentiates through performance-based compensation, committee-based best practice sharing, regional structures, and brand autonomy with shared services like AI-driven tools—similar to AI-Powered In-Home Sales Coaching 101. As of December 2025, the platform continues targeting high-quality operators, with potential for further expansion in untapped markets. For more on evolving strategies, see HVAC In-Home Sales Coaching in 2025.

Visit Legacy Service Partners for partnership details. This consolidating landscape offers insights for owners eyeing growth in residential services.

Last Updated: December 2025
Sources: Legacy Service Partners website, Gridiron Capital announcements, PitchBook, Crunchbase, industry press releases, partner testimonials, company analysis