User Friendly Home Services Acquisitions

User Friendly Home Services has emerged as a significant player in the home services private equity consolidation wave, completing 19+ HVAC and plumbing acquisitions since launching in May 2021. Led by CEO Bruce Howard—a former Yellow Pages publisher who pivoted to home services during the COVID-19 pandemic—the platform has built a portfolio spanning California, Kentucky, Ohio, and Oklahoma.

Unlike traditional private equity rollups that favor rapid integration, User Friendly maintains a decentralized approach where acquired companies retain their brand identity while accessing shared corporate services. This strategy has attracted sellers who want liquidity while preserving the local reputation they spent decades building.

Platform Overview: From Yellow Pages to Home Services

Bruce Howard founded User Friendly Home Services after recognizing a unique opportunity during pandemic neighborhood walks in 2021. As CEO of User Friendly Media (an independent Yellow Pages publisher), Howard had decades-long relationships with home services companies that advertised in his directories. These relationships became his "secret sauce" for deal sourcing—most owners would take his call based on prior business history.

Headquarters: The Woodlands, Texas
Founded: 2021
CEO: Bruce Howard
Backing: Private equity partner (undisclosed)
Platform Launch: All Seasons Air Conditioning (May 2021)
Service Lines: HVAC, plumbing, water heaters, indoor air quality
Current Portfolio: 19+ companies (as of March 2025)

Howard's background in Yellow Pages publishing provided unique advantages for the rollup strategy. His company, User Friendly Media, had served home services clients across multiple markets for years, giving him intimate knowledge of which companies generated consistent revenue, maintained strong reputations, and operated with sustainable business models. This pre-existing intelligence network reduced typical acquisition risk.

The platform reached approximately $40 million in revenue and $5 million in EBITDA by September 2023 across 16 companies. Howard's stated goal is to scale to $100 million in revenue and $15 million in EBITDA before pursuing a strategic exit. Based on typical home services multiples of 5-9x EBITDA, this trajectory positions User Friendly for a potential exit valuation in the $75-135 million range.

Complete Acquisition Timeline (2021-2025)

2021: Platform Launch Phase (5 Acquisitions)

May 2021: All Seasons Air Conditioning, Plumbing & Heating (Palm Desert, CA)
The platform launch acquisition brought a well-established California operation with 24 years of operating history. Founded in 1997, All Seasons provided comprehensive HVAC and plumbing services including air conditioning, heating, indoor air quality, plumbing, water heaters, and water filtration across the Coachella Valley. CEO David Beale remained with the company post-acquisition, citing the partnership's access to capital and management resources as key drivers for accepting the offer.

August 2021: Milburn Heating and Air Conditioning (Kentucky)
The second acquisition expanded User Friendly's footprint into Kentucky, establishing what would become the platform's strongest geographic concentration. Milburn brought expertise in residential and commercial HVAC service and installation to the Louisville metropolitan area.

August-November 2021: Murry's Heating & Air Conditioning (Kentucky)
Part of the initial Kentucky market build-out, Murry's added capacity and market density in the Louisville region. The company joined the growing portfolio as User Friendly executed its cluster strategy of acquiring multiple businesses in concentrated geographic markets.

November 2021: Tom Hundley Heating & Cooling (Tulsa, OK)
Founded in 1990 by Tom and Pam Hundley, this family-owned operation brought over 30 years of Tulsa Metro market expertise. The acquisition marked User Friendly's entry into Oklahoma and added both residential and commercial HVAC capabilities including service, repair, and full system replacements. Howard emphasized the company's service-oriented culture and family values as alignment factors for the acquisition.

December 2021: Isabel Heating & Cooling (Kentucky)
Owner Robbie Isabel expressed enthusiasm about the partnership, describing it as "the beginning of a bright and exciting future." The acquisition strengthened User Friendly's Kentucky market position and added another established brand to the portfolio.

2022: Accelerated Growth (4 Acquisitions)

March 2022: Legacy Heating & Air Conditioning, LLC (Louisville, KY)
Established in 2001, Legacy brought over 20 years of Louisville HVAC market experience. Owner and CEO Matt Alvey described the partnership as "a true win-win," emphasizing excitement about future growth opportunities. The company served both residential and commercial customers with expert technicians handling installations, repairs, and comprehensive HVAC system management.

2022: Mike Clark Heating, Cooling & Refrigeration (Louisville, KY)
With over 20 years serving the Louisville area, Mike Clark's company added commercial and residential HVAC expertise plus plumbing service capabilities. CEO Mike Clark characterized the partnership as "a unique and exciting opportunity" for company growth. The acquisition further consolidated User Friendly's dominant position in the Louisville metropolitan market.

October 2022: AccuTemp Heating & Air Conditioning (Louisville/Southern Indiana)
This family-owned business brought 30+ years of service history across Louisville and Southern Indiana. The dual-state footprint provided User Friendly with access to customers on both sides of the Ohio River, expanding market reach beyond Kentucky proper.

October 2022: Efficient Air Heating and Cooling (Owensboro, KY)
Founded by Billy Emberton, a licensed master technician with nearly 30 years of experience, Efficient Air served the Owensboro market in western Kentucky. Emberton stated, "This is an exciting day, not just for me personally, but for the entire Efficient Air team. We can't wait to get to work with the User Friendly team and continue to grow our business."

By October 2022, the User Friendly portfolio had grown to nine companies, establishing strong market concentration in Kentucky with multiple brands serving the Louisville and Owensboro regions.

2023: Ohio Market Entry (5+ Acquisitions)

January 2023: Sal's Heating & Cooling (North Royalton, OH)
The acquisition of Sal's marked User Friendly's entry into Ohio—a state that would become the platform's second-largest geographic concentration. Founded in 1975 by Sal Sidoti Sr., the company brought nearly 50 years of operating history and deep community roots in the Cleveland suburbs. Sal Sidoti Jr. and his wife Marilyn transitioned with the company, with Sal Jr. serving as President and Marilyn taking on an Acquisition Specialist role—leveraging their local market knowledge to identify future acquisition targets.

Howard described the deal as "transformative," noting that "Sal and Marilyn, their family, and their entire team have done amazing work in building Sal's Heating & Cooling into a true leader and fixture in the Ohio market." The Sidotis expressed excitement about continuing their father's legacy: "Sal Sr. started this journey for us almost 50 years ago. We cannot wait to see the heights this new road with User Friendly Home Services will take us to."

August 2023: My Plumber, Inc. (Mentor, OH)
Located in the Cleveland suburb of Mentor, My Plumber expanded User Friendly's service capabilities beyond HVAC into dedicated plumbing services. This acquisition represented the platform's strategic expansion into complementary home services verticals, following similar moves by competitors like T3 Services Group and Wrench Group.

August 2023: Crestwood Plumbing, Inc. (Kentucky)
User Friendly added a second plumbing specialist to the portfolio with Crestwood's acquisition. The Kentucky-based operation complemented the platform's extensive HVAC footprint in the state by providing comprehensive plumbing services to existing customer bases.

August 2023: Medina Heating and Air Conditioning Co. (Medina, OH)
The Medina acquisition continued User Friendly's Ohio market build-out, adding HVAC capabilities in the Cleveland exurbs. Medina sits approximately 30 miles south of Cleveland, providing access to both suburban and rural customer segments.

October 2023: Falls Heating & Cooling, Inc. (Akron, OH)
Founded in 1986 by Larry K. Burris, Falls represented User Friendly's 14th acquisition overall. Burris built the company on principles that "the customer and the community were the company's foremost responsibility." With nearly 40 years serving the Akron area, Falls brought a well-established brand in Ohio's fifth-largest metropolitan area.

Howard stated: "The success of User Friendly Home Services can be directly attributed to the people that make up this company, and the people we choose to do business with. Falls Heating & Cooling is no exception to that. Larry and the entire group at Falls have proven to be leaders in the market, and we are lucky to be able to add them to the User Friendly family."

2024-2025: Continued Expansion (5+ Additional Acquisitions)

By March 2025, User Friendly had completed 19 total acquisitions according to reporting from Crain's Cleveland Business. The company continued pursuing opportunities in California, Indiana, Kansas, Kentucky, Louisiana, Ohio, Oklahoma, and Texas—its stated target markets.

Current Portfolio Breakdown by State

Kentucky: 7+ Companies (Largest Concentration)

Kentucky represents User Friendly's most significant geographic concentration, with seven or more portfolio companies serving the Louisville and Owensboro metropolitan areas:

Legacy Heating & Air Conditioning (Louisville) - Founded 2001, residential/commercial HVAC
Isabel Heating & Cooling (Kentucky) - Full-service HVAC
Mike Clark Heating, Cooling & Refrigeration (Louisville) - 20+ years, commercial/residential HVAC and plumbing
Milburn Heating and Air Conditioning (Kentucky) - Residential/commercial HVAC
Murry's Heating & Air Conditioning (Kentucky) - HVAC services
AccuTemp Heating & Air Conditioning (Louisville/Southern Indiana) - 30+ years, family-owned
Efficient Air Heating and Cooling (Owensboro) - Founded by Billy Emberton, 30 years experience
Crestwood Plumbing, Inc. (Kentucky) - Plumbing services

The Louisville metropolitan area hosts six of these companies, creating significant market density that enables operational efficiencies through shared service routes, consolidated inventory management, and coordinated marketing. This cluster strategy mirrors successful approaches used by platforms like Apex Service Partners and Redwood Services.

Ohio: 4 Companies (Fastest Growing Market)

User Friendly entered Ohio in 2023 and rapidly built a portfolio of four companies serving the Cleveland and Akron metropolitan areas:

Sal's Heating & Cooling (North Royalton) - Founded 1975, nearly 50 years of service
My Plumber, Inc. (Mentor) - Plumbing specialist
Medina Heating and Air Conditioning Co. (Medina) - HVAC services
Falls Heating & Cooling, Inc. (Akron) - Founded 1986, nearly 40 years of service

Ohio's older housing stock (the state has some of the nation's oldest residential infrastructure) and mature home services market made it an attractive target for acquisition activity. The Cleveland-Akron corridor provided access to a combined statistical area of over 3.5 million residents with consistent HVAC and plumbing service demand.

According to Crain's Cleveland Business, private equity firms have acquired "hundreds" of residential home service companies in Northeast Ohio in recent years, with well-known names like W.F. Hann & Sons, P.K. Wadsworth, Herbst Electric Co., and Arco Comfort Air changing hands. Investment banker Chuck Fenske of Carleton McKenna noted his firm alone worked on acquisitions totaling over $200 million in Ohio home services deals over a few years.

California: 1 Company (Platform Company)

All Seasons Air Conditioning, Plumbing & Heating (Palm Desert) serves as the platform's founding company. Despite being the sole California operation, All Seasons' comprehensive service offerings (HVAC, plumbing, water heaters, indoor air quality, water filtration) make it a significant portfolio contributor. The Coachella Valley market benefits from extreme climate conditions that drive consistent HVAC demand.

Oklahoma: 1 Company

Tom Hundley Heating & Cooling (Tulsa) provides User Friendly's presence in Oklahoma. Founded in 1990 by Tom and Pam Hundley, the company serves the Tulsa Metro area with both residential and commercial HVAC services.

Strategic Approach: Relationship-Driven Acquisition Model

User Friendly's acquisition strategy differs from typical private equity rollups in several key aspects:

Pre-Existing Relationships as Deal Flow

Bruce Howard's Yellow Pages publishing background provided decades of relationships with home services companies across multiple states. As companies advertised in his directories, Howard gained visibility into their performance, reputation, and growth trajectories. This intelligence network enabled targeted acquisition approaches with warm introductions rather than cold outreach.

According to Localogy's coverage, Howard described these relationships as his "secret sauce because he can get just about any home service pro in his footprint to take his call." The trust built through years of business relationships reduced seller skepticism and accelerated deal timelines.

Seller Equity Rollover Creates Alignment

Of the first 16 acquisitions, 13 sellers chose to reinvest a portion of their sale proceeds back into User Friendly's equity. This equity rollover structure creates ongoing alignment between original owners and the platform's success. If User Friendly achieves its exit goals at $100 million revenue generating $15 million EBITDA, these sellers could see significant additional returns beyond their initial acquisition payouts.

Most selling owners continue working with their companies post-acquisition, though Howard noted any of them could "pack it in and be on a Florida golf course the next day" if they chose. The combination of liquidity, continued employment, and equity upside positions the acquisition as a wealth-building opportunity rather than a simple exit.

Brand Independence with Shared Services

Unlike platforms that rebrand acquisitions under a unified identity, User Friendly allows companies to maintain their existing brand names and local market recognition. All Seasons, Tom Hundley, Sal's Heating & Cooling, and Falls Heating & Cooling continue operating under the names that customers have trusted for decades.

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

Marketing and lead generation - Consolidated digital advertising, SEO, and local service ads
Recruiting and HR - Centralized hiring processes and benefits administration
Finance and accounting - Unified accounting systems, financial reporting, and cash management
Technology systems - CRM platforms, dispatch software, and business intelligence tools
Purchasing - Bulk equipment and parts procurement at reduced costs

This shared services model preserves what successful home services leaders like Tommy Mello and John Wilson emphasize: local brand strength matters in home services, where customers choose providers based on community reputation and trust.

Realistic Multiples and Market-Based Valuation

Howard describes the acquisition multiples as "realistic"—industry sources suggest home services companies typically sell for 5-9x EBITDA depending on size, growth rates, and market conditions. By offering fair valuations rather than premium prices, User Friendly preserves capital for growth investments while structuring deals that work for both parties.

The equity rollover component allows sellers to bridge any valuation gaps—they may accept a lower initial payout in exchange for participation in the platform's ultimate exit at potentially higher multiples.

Growth Strategy: Geographic Clustering in Target Markets

User Friendly pursues a geographic clustering strategy focused on eight states: California, Indiana, Kansas, Kentucky, Louisiana, Ohio, Oklahoma, and Texas. The company's headquarters in The Woodlands, Texas suggests future expansion plans in the Houston metropolitan area.

Why Geographic Clustering Works

Building multiple companies in concentrated markets creates several competitive advantages:

Operational Efficiency - Technicians can service multiple brands' customers within smaller territories, reducing drive time and increasing billable hours
Inventory Management - Consolidated parts storage and purchasing across multiple brands reduces carrying costs
Recruiting Leverage - A larger local presence makes User Friendly more attractive to top technician talent
Marketing ROI - Digital advertising and local service ads benefit from multiple brands competing for the same keywords
Emergency Coverage - Overflow calls can be routed between sister companies during peak demand periods

Similar strategies have driven success for platforms like Wrench Group (multiple brands per market) and Apex Service Partners (deep market penetration before geographic expansion).

Northeast Ohio as Strategic Market

User Friendly's rapid Ohio expansion reflects the state's attractiveness for home services consolidation. As reported by Crain's Cleveland Business, approximately half of Howard's acquisitions have occurred in Northeast Ohio and Kentucky specifically.

Ohio offers several advantages:

Older housing stock drives consistent service and replacement demand
Established companies with decades of operating history and brand recognition
Mature market with limited organic growth forces companies to consider liquidity options
Four-season climate creates year-round HVAC demand (heating and cooling)

Investment banker Wayne Twardokus of League Park Advisors noted his firm handled "at least 50 of those related transactions in the last five years" in the Ohio home services sector, indicating robust deal flow and competitive acquisition environment.

Industry Context: The Home Services Roll-Up Wave

User Friendly competes in an increasingly crowded home services consolidation landscape. Private equity interest in HVAC, plumbing, and electrical services has accelerated dramatically since 2020, driven by several factors:

Why Private Equity Targets Home Services

Recession-Resistant Revenue - Broken furnaces and plumbing emergencies get fixed regardless of economic conditions
Recurring Revenue Potential - Maintenance agreements and service plans create predictable income
Fragmented Market - Thousands of small, family-owned businesses create acquisition opportunities
Baby Boomer Exits - Aging business owners need succession solutions as children pursue different careers
Technology Arbitrage - Small operators lack sophisticated CRM, dispatch, and marketing systems that platforms can implement
Multiple Arbitrage - Buying at 5-6x EBITDA and selling at 8-10x creates value through consolidation alone

As Chuck Fenske of Carleton McKenna told Crain's Cleveland Business: "If you were a contractor 10 years ago, you had three options. You could sell to another competitor in a contiguous metropolitan area. You could sell to family or management, or you could do an ESOP." Private equity added a fourth option with superior liquidity and valuation.

User Friendly vs. Major Competitors

Wrench Group (Valor Equity Partners, Silver Lake) has built the largest home services platform with 100+ brands and $3 billion in revenue. The company acquired major players like Benjamin Franklin Plumbing and Goettl Air Conditioning while maintaining a decentralized brand structure similar to User Friendly's approach.

Apex Service Partners (partnered with American Securities) operates 80+ brands across HVAC, plumbing, and electrical services. The platform emphasizes AI-powered sales coaching and technology implementation to drive performance improvements.

Redwood Services (OMERS Private Equity) focuses on residential HVAC and plumbing with 60+ locations. The company targets $500 million in revenue through geographic expansion and same-store sales growth.

T3 Services Group (The Riverside Company) operates nine brands across Texas, Colorado, Washington, Idaho, and New Mexico. CEO Joe Finney leads a platform that emphasizes culture development through initiatives like the "Culture Crew."

Vertex Service Partners (Alpine Investors) focuses on roofing and exterior services rather than HVAC, but competes for similar acquisition targets and operates in overlapping markets. The platform has completed 11+ acquisitions since launching in 2023.

User Friendly occupies a smaller position than these major players but differentiates through Howard's relationship-driven deal sourcing, seller equity alignment, and patient growth strategy focused on profitability before scale.

Value Creation Thesis: From $40M to $100M

User Friendly's stated goal of reaching $100 million revenue and $15 million EBITDA before exit implies a specific value creation roadmap:

Current State (September 2023)

Revenue: ~$40 million
EBITDA: ~$5 million
EBITDA Margin: 12.5%
Company Count: 16

Target State (2025-2026 Goal)

Revenue: $100 million (2.5x growth)
EBITDA: $15 million (3x growth)
EBITDA Margin: 15% (250 bps improvement)
Company Count: 25-30 (estimated)

Value Creation Levers

Acquisition Growth - Adding 9-14 more companies at ~$3-5 million average revenue each contributes $30-50 million in top-line growth
Organic Growth - Existing companies growing 10-15% annually through enhanced marketing, technology implementation, and operational improvements adds $12-18 million
Margin Expansion - Shared services, bulk purchasing, and operational efficiency improvements drive EBITDA margin from 12.5% to 15%
Multiple Expansion - Larger platforms with proven organic growth often command higher acquisition multiples (8-10x vs. 5-7x for smaller companies)

If User Friendly achieves $15 million EBITDA and secures an 8x exit multiple (conservative for a $100M platform), the enterprise value would reach $120 million. Selling shareholders who reinvested proceeds would participate in this valuation uplift beyond their initial acquisition payments.

What Home Services Operators Can Learn

User Friendly's growth trajectory offers several insights for home services business owners considering their own succession or growth strategies:

For Potential Sellers

Relationships Matter - Howard's Yellow Pages relationships created deal flow that cold outreach cannot replicate. Building relationships with potential acquirers years before selling creates advantages.
Equity Rollover Drives Wealth - Thirteen of sixteen sellers chose to roll equity into User Friendly, suggesting confidence in the platform's strategy. For sellers without immediate liquidity needs, participating in a rollup's growth can generate more wealth than a full cash exit.
Brand Preservation - Platforms that maintain local brand identity may appeal more to founders who spent decades building community reputation. User Friendly's approach contrasts with rebrand-focused acquirers.
Continued Employment - Most selling owners continue working post-acquisition, suggesting the transition doesn't require immediate retirement. For founders not ready to exit operationally, partial liquidity while remaining involved can be ideal.

For Growth-Focused Owners

Shared Services Create Value - Small operators lack scale for sophisticated marketing, recruiting, and technology systems. Joining platforms provides access to capabilities that would be cost-prohibitive independently.
Geographic Clustering - User Friendly's concentration in Kentucky and Ohio suggests acquiring nearby competitors creates more value than scattered geographic expansion.
Technology Implementation - AI-powered tools for sales coaching, lead routing, and performance management differentiate modern platforms from traditional competitors. Companies that implement these systems gain competitive advantages.
Maintenance Agreement Focus - Recurring revenue from maintenance agreements makes businesses more valuable. Platforms that help convert transactional customers to agreement holders drive both growth and valuation improvements.

Future Outlook: The Race to $100 Million

User Friendly's path to $100 million revenue and $15 million EBITDA requires executing approximately 10-15 additional acquisitions while driving 10-15% organic growth from existing companies. The timeline suggests achievement by end of 2025 or early 2026.

Several factors will influence success:

Favorable Conditions:

Continued Baby Boomer retirements create acquisition opportunities
Private equity competition for quality assets validates strong valuations for sellers
Technology implementation drives margin expansion for acquired companies
Geographic clustering in Kentucky and Ohio creates operational leverage

Potential Challenges:

Rising interest rates increase acquisition financing costs
Competition from larger platforms (Wrench, Apex, Redwood) for quality targets
Integration challenges as portfolio scales beyond 20 companies
Economic recession could pressure residential service demand

If User Friendly achieves its goals, Howard's bet on home services will generate returns that justify his pivot from Yellow Pages publishing. The 13 sellers who rolled equity will share in the exit proceeds, validating their decision to partner with the platform rather than seeking full cash exits.

For the broader home services industry, User Friendly represents another data point in private equity's ongoing consolidation of a fragmented sector. Whether the company reaches $100 million independently or gets acquired by a larger platform along the way, Howard's relationship-driven strategy and seller-aligned structure offer a distinct approach in an increasingly competitive acquisition landscape.

What Companies Has User Friendly Home Services Acquired