Key Takeaways
- • Permira has agreed to acquire a majority stake in Flint Group from General Atlantic in a transaction valued at more than $1.5bn, according to Reuters citing people familiar with the deal.
- • Flint Group, a Kansas City-based provider of HVAC, plumbing and electrical services, has grown from seven regional brands across five states to 20 brands across 15 states since General Atlantic invested in 2023.
- • The deal reflects continued private equity interest in the fragmented US residential home services sector, where recurring demand and consolidation opportunities attract institutional capital.
- • William Blair and Jefferies advised Flint, Goldman Sachs advised Permira, and the transaction is expected to close before the end of 2026.
Summary
Permira has agreed to acquire a majority stake in US residential services provider Flint Group from General Atlantic in a transaction valued at more than $1.5bn, according to a report by Reuters citing people familiar with the deal. The Private Equity Wire report confirms the terms as reported by Reuters.
Kansas City-based Flint Group provides heating, ventilation, air conditioning, plumbing and electrical services across the United States. The business was founded in 2019 by Trevor Flannigan and Collin Hathaway. Since General Atlantic invested in 2023, Flint has expanded from seven regional brands across five states to 20 brands operating across 15 states.
The acquisition reflects growing private equity interest in the fragmented US home services sector, where recurring demand, predictable cash flows and consolidation opportunities have drawn institutional capital. Blackstone recently acquired Champions Group, and Apollo invested in Apex Service Partners at a valuation of approximately $10bn including debt.
Permira reportedly plans to draw on its experience scaling consumer businesses and its digital capabilities to support Flint's continued expansion. William Blair and Jefferies advised Flint on the transaction, while Goldman Sachs advised Permira. The transaction is expected to close before the end of 2026.
Kansas City-based Flint Group provides heating, ventilation, air conditioning, plumbing and electrical services across the United States. The business was founded in 2019 by Trevor Flannigan and Collin Hathaway. Since General Atlantic invested in 2023, Flint has expanded from seven regional brands across five states to 20 brands operating across 15 states.
The acquisition reflects growing private equity interest in the fragmented US home services sector, where recurring demand, predictable cash flows and consolidation opportunities have drawn institutional capital. Blackstone recently acquired Champions Group, and Apollo invested in Apex Service Partners at a valuation of approximately $10bn including debt.
Permira reportedly plans to draw on its experience scaling consumer businesses and its digital capabilities to support Flint's continued expansion. William Blair and Jefferies advised Flint on the transaction, while Goldman Sachs advised Permira. The transaction is expected to close before the end of 2026.
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