Most Active PE Platforms in 2026: The Named Consolidators Buying Across Home Services, Healthcare, Auto, and Landscape

PE consolidation in 2026 is dominated by a relatively small set of named platforms running aggressive add-on acquisition programs. Across home services, healthcare, auto, landscape, pest control, and B2B services, roughly 30-40 named platforms collectively account for the majority of LMM PE deal volume. These platforms have published or known buy-boxes, established acquisition processes, dedicated business development teams, and enough deal velocity to close 30-100+ acquisitions per year each. For sellers in active consolidation industries, knowing which platforms are most likely buyers — and what each platform’s buy-box looks like — is the highest-leverage positioning decision available.

This guide names the most active PE platforms across the major LMM consolidation verticals in 2026. We’ll cover home services (HVAC, plumbing, electrical, roofing) led by Apex Service Partners, Wrench Group, Service Logic, Authority Brands, Sila Services, and Champions Group. Pest control led by Rollins (NYSE: ROL), Anticimex (EQT), Massey Services, and Aptive. Dental DSOs led by Heartland Dental (KKR), MB2 Dental, Smile Brands, and Aspen Dental. Veterinary led by Mars Veterinary Health, NVA, Thrive Pet Healthcare. Auto repair led by Driven Brands (NASDAQ: DRVN) and Caliber Collision. Landscape led by BrightView (NYSE: BV), Yellowstone Landscape, and TruGreen. Healthcare services led by US Dermatology Partners, EyeCare Partners, and others.

Our framework comes from working alongside 76+ active U.S. lower middle market buyers, including direct relationships with most of the named platforms below. We’re a buy-side partner. The buyers pay us when a deal closes — not the seller. We see active deal flow weekly across these named platforms, know which platforms are currently in active acquisition mode versus integration pause, and know the specific business development partners and acquisition criteria for each platform. The patterns below come from active 2025-2026 transaction work, not from press releases alone.

One framing note before we go through the platforms. PE platform activity ebbs and flows. A platform that closed 60 add-ons in 2024 may slow to 20-30 in 2026 if the sponsor is focused on integration, refinancing, or preparing for an exit. A platform that closed 10 add-ons in 2024 may accelerate to 40-50 in 2026 after a recapitalization or new fundraise. The named platforms in this guide are the ones consistently writing checks in 2026 based on observed deal flow — not just the ones with the most historical platform formation. Sellers should verify current activity status with a buy-side partner before assuming a specific platform is the right target today.

“The mistake sellers make in 2026 is treating PE platforms as interchangeable. They’re not. Apex Service Partners closes 60+ HVAC and plumbing deals a year in Sun Belt geographies. Rollins closes 30-50 pest control acquisitions per year, mostly tuck-ins to existing Orkin or HomeTeam routes. Heartland Dental affiliates 200+ practices per year nationally with a defined buy-box. Each platform has its own deal team, decision criteria, integration capacity, and pricing discipline. Matching to the right platform first is more valuable than running a 15-bidder auction. The buy-side intermediary who already knows the buy-boxes shortcuts 6-9 months of process.”

Key Takeaways

• Top home services platforms 2026: Apex Service Partners (Alpine Investors), Wrench Group (Leonard Green), Service Logic (Bain Capital), Authority Brands (Roark Capital), Sila Services (Goldman Sachs), Champions Group (Blackstone), Roto-Rooter (Chemed Corp NYSE: CHE).
• Top pest control platforms 2026: Rollins (NYSE: ROL with Orkin/Western/HomeTeam), Anticimex (EQT), Massey Services, Aptive Environmental, Terminix (Rentokil Initial), Truly Nolen, Arrow Exterminators.
• Top dental DSO platforms 2026: Heartland Dental (KKR & founder, 3,000+ practices), MB2 Dental (Charlesbank), Smile Brands, Aspen Dental (Leonard Green), Pacific Dental Services, Smile Doctors orthodontics (Linden Capital).
• Top veterinary platforms 2026: Mars Veterinary Health (2,500+ clinics: Banfield, BluePearl, VCA), NVA (JAB Holding, 1,000+ locations), Thrive Pet Healthcare (TSG Consumer Partners), Pathway Vet Alliance (Morgan Stanley), Ethos Veterinary Health.
• Top auto repair platforms 2026: Driven Brands (NASDAQ: DRVN with Take 5/Meineke/Maaco/CARSTAR), Caliber Collision (Hellman & Friedman/Omers), Crash Champions (Clearlake Capital), Christian Brothers Automotive, Gerber Collision & Glass (TSX: BYD).
• Top landscape platforms 2026: BrightView (NYSE: BV), Yellowstone Landscape (CenterOak Partners), TruGreen (Roark Capital), Davey Tree Expert Company (employee-owned), SavATree (Apax Partners), Heartland Landscape Group.

Apex Service Partners (Alpine Investors): the most active home-services consolidator

Apex Service Partners is the highest-volume PE-backed home services consolidator in 2026. Formed by Alpine Investors in 2017, Apex consolidates HVAC, plumbing, and electrical contracting businesses across the Sun Belt and select non-Sun Belt geographies. As of 2026, Apex operates 100+ branded local service brands across 25+ states with 6,000+ employees and $1.5B+ in run-rate revenue. Acquisition cadence runs 50-70 per year, making Apex the single most active acquirer in the home services category.

Apex’s known buy-box. Minimum EBITDA: $500K-$750K (will look at smaller for strategic fit). Maximum EBITDA: $10M+ (larger targets become hub locations). Geography: Texas, Florida, Carolinas, Georgia, Tennessee, Arizona, Nevada, with active expansion into Mountain West and Midwest. Trades: HVAC primary, plumbing and electrical complementary. Service mix: prefers strong service contract / maintenance membership penetration. Owner involvement: prefers owner-replaceable operations or owners willing to remain 1-2 years post-close.

How Apex acquisitions typically structure. Multiples: 4-7x EBITDA depending on size and recurring mix; smaller targets (sub-$1M EBITDA) at the lower end, larger targets (>$3M EBITDA) at the higher end. Cash at close: typically 70-85% of headline price. Rollover equity: 10-25% in most transactions, allowing sellers to participate in platform appreciation through a future exit. Earnout: minor (5-15% of price) tied to revenue or EBITDA milestones. Employment: owner typically continues 1-3 years post-close in operational or strategic role.

Why Apex moves fast. Alpine Investors’ CEO-1st operating model means each Apex add-on is led by a dedicated CEO with M&A and integration experience. The platform has a centralized business development team that screens 100+ targets monthly. Diligence is streamlined and standardized — 30-60 day signed-LOI to close timelines are common when seller financial cleanliness is sufficient. Sellers who match Apex’s buy-box and provide clean financials can close in 60-90 days, materially faster than a typical broker-led auction.

Wrench Group (Leonard Green Partners): the multi-brand home services platform

Wrench Group is one of the largest US home services platforms by revenue, operating across HVAC, plumbing, and electrical under multiple brands. Originally formed by Investcorp in 2018 with a recapitalization led by Leonard Green Partners in 2022, Wrench Group operates a portfolio of locally-branded service operations across the Sun Belt, Mid-Atlantic, and Northeast. Brands include One Hour Heating & Air Conditioning, Mister Sparky (electrical), Benjamin Franklin Plumbing, and various locally-branded operations. Run-rate revenue exceeds $2B as of 2026.

Wrench Group’s known buy-box. Minimum EBITDA: $1M-$1.5M (prefers larger targets that can become hub locations). Maximum EBITDA: $20M+ (selectively pursues larger platforms for hub formation). Geography: 20+ states with active expansion in growing metros. Trades: HVAC and plumbing primary; electrical complementary; selective in roofing. Service mix: prefers established maintenance membership programs. Owner involvement: flexible — will work with owners staying 6 months to 5 years post-close.

How Wrench Group differs from Apex in deal sourcing. Wrench Group typically pursues larger targets ($1.5-5M EBITDA) than Apex (which spans $500K-$10M EBITDA). Wrench Group’s integration model preserves local brand identity longer than some competitors, which appeals to owners with strong local market reputation. Multiples typically 5-7x EBITDA for $1-3M EBITDA targets, 6-8x for $3-10M EBITDA platforms. Cash at close: 70-85%; rollover equity 10-20%. Acquisition cadence runs 30-50 per year.

Sellers who fit Wrench Group well. Established multi-truck home services operators with $1-5M EBITDA, strong local brand recognition, owner willing to remain 1-3 years, and clean financials. Wrench Group’s long-form integration approach suits owners who want their business to retain local identity rather than be re-branded immediately. Sellers in Wrench Group’s active expansion geographies (Texas, Carolinas, Georgia, Florida, Pennsylvania, New Jersey, Maryland, Virginia, Tennessee) see particularly strong deal interest.

Service Logic (Bain Capital): the commercial HVAC consolidator

Service Logic, recapitalized by Bain Capital in 2022, is the largest commercial HVAC services platform in the US. Unlike Apex and Wrench Group (which span residential and commercial), Service Logic focuses on commercial mechanical services — HVAC service, controls, and building automation for commercial, institutional, healthcare, and industrial facilities. Run-rate revenue exceeds $2.5B as of 2026 with 8,000+ technicians across 40+ states. Service Logic is the institutional capital play in commercial mechanical services.

Service Logic’s known buy-box. Minimum EBITDA: $1M-$2M (prefers larger commercial-only operators). Maximum EBITDA: $15M+ (pursues larger platforms selectively). Geography: 40+ states with active expansion in major metros. Service mix: 70%+ commercial / institutional revenue (residential operators are not a fit). Specialty: HVAC service contracts, controls and building automation, mechanical retrofit, and refrigeration service. Owner involvement: typically wants owners staying 2-5 years post-close.

Why Service Logic commands premium multiples. Commercial mechanical services with established service contracts and controls/automation revenue carry premium recurring-revenue characteristics: 5-10 year contract terms common, 90%+ retention, and high switching costs (commercial customers don’t change service providers easily once integrated with building systems). Service Logic typically pays 6-9x EBITDA for $1-3M EBITDA targets and 8-11x for $3-10M EBITDA platforms with strong commercial controls revenue.

Sellers who fit Service Logic well. Commercial HVAC operators with $1M+ EBITDA, established service contract base (>50% of revenue), controls and building automation capability, multi-trade technician workforce, and owner willing to remain post-close. Specialty refrigeration service operators serving healthcare, food service, and industrial facilities are also fits. Residential-only HVAC operators are not a fit for Service Logic and should target Apex, Wrench Group, or Sila Services instead.

Authority Brands (Roark Capital): the franchised home services platform

Authority Brands, owned by Roark Capital, is a multi-brand franchised home services platform. Authority Brands operates 14+ franchised home services brands across HVAC, plumbing, electrical, roofing, restoration, lawn care, and pest control. Brands include One Hour Heating & Air Conditioning, Benjamin Franklin Plumbing, Mister Sparky (electrical), Sears Garage Solutions, Mosquito Squad, The Cleaning Authority, Homewatch CareGivers, and several others. Combined system-wide revenue exceeds $2B as of 2026 across 1,500+ franchise locations.

Authority Brands’ known acquisition strategy. Authority Brands acquires franchised operators of its existing brand portfolio (converting franchisees to company-owned locations) and acquires new brands to add to the franchise portfolio. Buy-box for franchisee acquisitions: existing franchisee with $1M+ EBITDA, growing market position, owner willing to convert to company-owned model. Buy-box for new brand acquisitions: established franchised brand in adjacent service vertical with 50+ franchise locations and consolidation potential.

Multiples and structures. Franchisee acquisition multiples: 4-6x EBITDA depending on size and growth. Brand-level acquisitions: 6-9x EBITDA depending on franchise system size and royalty structure. Authority Brands typically integrates faster than non-franchised platforms because the operational standards are already in place. Cash at close: 75-90%; rollover equity less common (franchisees often exit cleanly). Earnout: occasional but smaller than other platforms.

Sellers who fit Authority Brands well. Existing franchisees of Authority Brands portfolio operators (One Hour HVAC, Benjamin Franklin Plumbing, Mister Sparky, Mosquito Squad, etc.) with $750K+ EBITDA in growing markets. Owners of established franchised home services brands considering exit. Multi-brand multi-unit operators (own franchises across multiple Authority Brands operations) particularly strong fit. Independent (non-franchised) home services operators should target Apex, Wrench Group, or Sila Services instead.

Sila Services (Goldman Sachs Asset Management): the Eastern US home services platform

Sila Services, formed by Goldman Sachs Asset Management in 2018, is a fast-growing home services consolidator focused on the Eastern US. Sila operates locally-branded HVAC, plumbing, and electrical operations across 15+ states from Maine to Florida. Acquisition cadence runs 30-50 per year as of 2026. Sila’s strategy is similar to Apex but with stronger geographic concentration in the Northeast, Mid-Atlantic, and Southeast versus Apex’s Sun Belt focus.

Sila’s known buy-box. Minimum EBITDA: $500K-$1M (will pursue smaller targets in active expansion markets). Maximum EBITDA: $10M+ (larger targets become hub locations). Geography: Northeast, Mid-Atlantic, Southeast (Maine, Massachusetts, Connecticut, New York, New Jersey, Pennsylvania, Maryland, Virginia, Carolinas, Georgia, Florida). Trades: HVAC primary, plumbing and electrical complementary. Owner involvement: flexible, prefers 1-3 year transition.

Multiples and structures. Multiples: 4.5-6.5x EBITDA depending on size and recurring mix. Cash at close: 70-85%; rollover equity 10-20%. Earnout: minor, tied to revenue or EBITDA milestones. Sila’s deal team is centralized and runs efficient diligence, with 60-90 day LOI-to-close timelines for clean targets. Sila has invested heavily in operational integration tools (call center centralization, marketing automation, CRM standardization) that allow rapid integration of acquired operations.

Sellers who fit Sila well. Eastern US home services operators with $500K-$5M EBITDA, established local brand, growing market position, and owner willing to remain 1-3 years post-close. Sila’s active expansion markets (Florida, Carolinas, Georgia, Tennessee, Mid-Atlantic) see strongest deal interest. HVAC primary preferred but plumbing and electrical complementary fits also work. Residential-focus is fine; commercial-only operators are typically a better fit for Service Logic.

Champions Group (Blackstone): the newest large-scale home services platform

Champions Group, formed by Blackstone in 2022, is the newest large-scale entrant in PE-backed home services consolidation. Champions Group consolidates HVAC, plumbing, and electrical contracting across multiple geographies with an emphasis on growing metro markets. Blackstone’s significant capital commitment (estimated $500M+ initial equity check plus ongoing follow-on capital) has enabled rapid platform formation: 50+ acquisitions in the first 36 months. Run-rate revenue is approaching $1.5B as of 2026.

Champions Group’s known buy-box. Minimum EBITDA: $750K-$1M (smaller acquisitions selective). Maximum EBITDA: $15M+ (pursues larger hub targets aggressively). Geography: Sun Belt and major metros across multiple states. Trades: HVAC primary, plumbing and electrical complementary. Service mix: prefers established service contract base. Owner involvement: flexible 1-5 year transition.

Multiples and competitive dynamics. Multiples: 5-7.5x EBITDA, often at the higher end of comparable transactions due to Blackstone’s capital availability and deployment urgency in the platform’s early years. Champions Group has occasionally outbid Apex, Wrench Group, and Sila on competitive deals during 2023-2025 platform formation. Whether multiples remain elevated or normalize toward category averages depends on ongoing fundraising and platform integration progress.

Sellers who fit Champions Group well. Larger home services operators ($1.5M+ EBITDA) in growing metro markets with strong service contract base. Owners willing to remain 2-5 years post-close. Blackstone’s scale and capital availability make Champions Group attractive for sellers seeking large-scale resources for post-close growth. Smaller home services operators ($500K-$1M EBITDA) often see better fit with Apex, Sila, or regional PE-backed platforms.

Roto-Rooter (Chemed Corp NYSE: CHE) and other public home services consolidators

Roto-Rooter, owned by Chemed Corporation (NYSE: CHE), is the longest-running plumbing-led home services consolidator with 80+ years of brand recognition. Chemed’s Roto-Rooter segment operates company-owned and franchised plumbing service locations across all 50 US states. Public-company filings disclose acquisition activity: typically 10-20 franchise/independent operator acquisitions per year, with HVAC add-on activity for select markets. Roto-Rooter is unique among home services consolidators in operating a hybrid franchise-plus-company-owned model at scale.

Public-company transparency provides multiple benchmarking. Chemed’s 10-K and 10-Q filings disclose acquisition multiples (typically 4-6x EBITDA for plumbing acquisitions), revenue contribution from acquired operations, and integration approach. This transparency is useful for plumbing sellers benchmarking expectations: Roto-Rooter’s reported multiples set a market floor that PE-backed platforms must compete against.

Driven Brands (NASDAQ: DRVN): public home services consolidator across auto and adjacent verticals. Driven Brands operates Take 5 Oil Change, Meineke Car Care Centers, Maaco, MAACO, CARSTAR, and 1-800-Radiator/Auto Glass Now across 4,800+ locations as of 2026. Public-company disclosures provide visibility into acquisition multiples (typically 5-7x EBITDA for franchise system acquisitions), capital deployment, and integration strategy across mechanical repair, collision, glass, and quick lube verticals. See the auto repair section below for more detail.

Why public consolidators matter even when they’re not your direct buyer. Public-company filings (Chemed, Driven Brands, Rollins, BrightView, Acadia Healthcare) provide the only fully-transparent multiple data in PE consolidation industries. PE-backed platform acquisition multiples are typically not disclosed publicly. Sellers benchmarking expectations should triangulate between published industry research (PitchBook, GF Data, IBISWorld) and public-company precedent transactions to anchor realistic multiple ranges. The public benchmarks set a floor that PE platforms must clear or exceed to win competitive deals.

Rollins (NYSE: ROL) and pest control consolidators

Rollins, Inc. (NYSE: ROL) is the largest US pest control company and the most acquisitive public consolidator in the pest control category. Rollins operates Orkin (the flagship brand), Western Pest Services, HomeTeam Pest Defense, Critter Control, Northwest Exterminating, OPC Pest Services, Trutech, and a dozen+ other regional brands. Public-company filings disclose acquisition cadence of 30-50 deals per year ranging from small tuck-ins to mid-size regional operators. Run-rate revenue exceeds $3B as of 2026.

Rollins’ known buy-box. Minimum SDE: $250K-$500K (will pursue smaller tuck-ins to existing Orkin or HomeTeam routes). Maximum EBITDA: $20M+ (pursues larger regional platforms selectively). Geography: all 50 US states with concentration in Sun Belt and Mid-Atlantic. Service mix: prefers strong commercial mix and termite plan attachment. Owner involvement: flexible — small operators often exit cleanly; larger operators may stay 2-5 years.

Anticimex US (EQT) and other PE-backed pest control consolidators. Anticimex, headquartered in Sweden and owned by EQT, has built a significant US pest control business through acquisitions of regional operators. Massey Services (private, Florida-concentrated) is the largest privately-held US pest control operator with 100+ locations. Aptive Environmental (PE-backed) is a fast-growing residential pest control platform. Truly Nolen and Arrow Exterminators are large regional operators with active acquisition activity. Terminix (formerly NYSE: TMX) was acquired by Rentokil Initial (LSE: RTO) in 2022 and continues active acquisition under the Rentokil platform.

Multiples and structures across pest control consolidators. Pest control multiples: 7-10x EBITDA for $1M+ EBITDA platforms with strong recurring mix; 5-7x SDE for sub-$1M SDE owner-operated pest control with clean financials. Rollins’ public filings disclose tuck-in acquisitions in the 4-6x EBITDA range (including amounts paid for Orkin franchisee buyouts and small regional operators). PE-backed platforms typically pay 7-10x for clean $1M+ EBITDA targets. Cash at close: 75-90%; rollover equity 5-15% (lower than home services platforms).

Heartland Dental (KKR) and dental DSO consolidators

Heartland Dental is the largest US Dental Service Organization with 3,000+ affiliated practices as of 2026. Owned by KKR (recap 2018) and the founding Heartland leadership, Heartland Dental affiliates 200+ practices per year through its DSO model. The DSO structure preserves clinical autonomy of practicing dentists while consolidating non-clinical operations (billing, marketing, IT, procurement, real estate, HR, credentialing). Heartland Dental is the most active US dental practice acquirer by volume.

Heartland Dental’s known buy-box. Minimum practice size: $1M+ revenue (smaller practices selective). Preferred practice size: $1.5-5M revenue with 1-3 dentists. Geography: all 50 US states with concentration in Sun Belt, Mid-Atlantic, and Midwest. Specialty: general dentistry primary, with some specialty (orthodontics, oral surgery) selectively. Payer mix: prefers strong PPO mix; will work with Medicaid-mix practices selectively. Owner involvement: dentist typically continues 5-10 years post-affiliation.

MB2 Dental (Charlesbank), Smile Brands, Aspen Dental (Leonard Green), and other dental platforms. MB2 Dental is the second-largest US DSO with 700+ affiliated practices, owned by Charlesbank Capital Partners. Smile Brands operates 400+ offices through multiple PE ownership transitions. Aspen Dental (Leonard Green) operates a corporate-employed model with 1,000+ offices. Pacific Dental Services is large but largely founder-owned. Specialty platforms include Smile Doctors orthodontics (Linden Capital), Affordable Dentures & Implants (Triple Tree / Roark), and several specialty-specific aggregators.

Multiples and structures across dental DSOs. Dental DSO multiples: 5-7x EBITDA for general practices, 7-10x for specialty (orthodontics, oral surgery, pediatric, endodontics). Cash at close: 70-85%; rollover equity 10-25% (typical 5-7 year vesting). Employment agreement at competitive comp post-close, with productivity bonus structure. Performance-based earnout on patient retention or production metrics. Gradual transition out of clinical work over 3-7 years. Selling dentists should plan for these structures rather than expecting LMM-style cash-heavy exits.

Mars Veterinary Health and veterinary platforms

Mars Veterinary Health (parent: Mars, Incorporated) is the largest veterinary services company globally with 2,500+ clinics under Banfield Pet Hospital, BluePearl Specialty + Emergency Pet Hospital, VCA Animal Hospitals, AniCura Europe, and Antech Diagnostics brands. Mars Veterinary Health is uniquely structured: owned by privately-held Mars Inc. rather than a PE sponsor, with long-term capital horizons and significant scale across general practice, specialty/emergency, and diagnostics. Acquisition activity continues across all three categories with 100+ practice acquisitions per year as of 2026.

Mars Veterinary Health’s known acquisition criteria. Banfield acquisitions: high-volume general practice locations, often inside or adjacent to PetSmart retail. BluePearl acquisitions: specialty and emergency hospitals with multi-DVM staffing, board-certified specialists, and 24/7 capability. VCA acquisitions: established multi-DVM general practice and specialty operations across the US. Multiples vary by category: 8-12x EBITDA for general practice acquisitions, 12-18x for specialty/emergency hospitals.

NVA, Thrive Pet Healthcare, Pathway Vet Alliance, BluePearl, Ethos Veterinary Health, VetCor, and PetVet Care Centers. National Veterinary Associates (NVA), owned by JAB Holding Company, operates 1,000+ veterinary and pet boarding locations. Thrive Pet Healthcare (TSG Consumer Partners) is a fast-growing platform across the US. Pathway Vet Alliance (Morgan Stanley Capital Partners) operates across general practice and specialty. Ethos Veterinary Health (PE-backed) focuses on specialty hospitals. VetCor (Oak Hill Capital and others) operates 800+ general practice clinics. PetVet Care Centers operates 400+ clinics. Each has its own buy-box and acquisition cadence.

Multiples and structures across veterinary platforms. Veterinary multiples: 8-12x EBITDA for general practice, 12-18x for specialty/emergency hospitals. Cash at close: 70-85%; rollover equity 10-25% (typical 3-5 year vesting). Employment agreement at competitive DVM comp post-close. Performance-based earnout in some structures. Gradual transition to associate role or strategic advisor over 3-7 years. Selling DVM-owners should expect competitive bidding from 4-8 platforms for premium specialty hospitals; general practice acquisitions typically have 2-4 active bidders depending on geography.

Driven Brands (NASDAQ: DRVN), Caliber Collision, Crash Champions, and auto repair platforms

Driven Brands Holdings (NASDAQ: DRVN) is the largest public auto repair consolidator, operating across mechanical, collision, glass, and quick lube verticals. Driven Brands operates Take 5 Oil Change, Meineke Car Care Centers, Maaco, CARSTAR, 1-800-Radiator/Auto Glass Now, ABRA Auto Body, and other brands across 4,800+ locations. Public-company filings disclose acquisition cadence: 50-100+ deals per year across franchise systems and direct location acquisitions. Total system-wide revenue exceeds $5B as of 2026.

Caliber Collision (Hellman & Friedman, Omers): the collision repair leader. Caliber Collision is the largest US collision repair operator with 1,800+ centers across 40+ states. Owned by Hellman & Friedman and Omers Private Equity, Caliber has grown primarily through acquisitions and de novo openings. Caliber’s acquisition cadence runs 50-100 multi-shop and single-shop acquisitions per year. Direct Repair Program (DRP) relationships with major insurance carriers (State Farm, GEICO, Progressive, Allstate, etc.) create durable revenue and competitive moat.

Crash Champions (Clearlake Capital), Gerber Collision & Glass, and other collision platforms. Crash Champions, owned by Clearlake Capital, has grown rapidly through the acquisition of Service King (2022) and ongoing add-on activity. Crash Champions operates 600+ locations across 30+ states. Gerber Collision & Glass (Boyd Group, TSX: BYD) operates 800+ collision centers and is publicly-traded on the TSX. CARSTAR and Fix Auto are franchised collision networks under Driven Brands. Multiples: 5-7x EBITDA for collision repair multi-shop operators with established DRP relationships.

Christian Brothers Automotive, Midas, AAMCO, and mechanical repair platforms. Christian Brothers Automotive is a fast-growing franchised mechanical repair platform with 250+ locations and active expansion. Midas (TBC Corporation, Sumitomo) operates franchised mechanical repair across 1,200+ locations. AAMCO Transmissions operates franchised transmission/repair. Mechanical repair multiples: 4-6x EBITDA for sub-$2M EBITDA, 5-7x for $2-5M EBITDA platforms with multi-shop scale and established technician retention. EV transition risk creates a long-cycle headwind that PE platforms underwrite conservatively.

BrightView (NYSE: BV), Yellowstone Landscape, TruGreen, and landscape platforms

BrightView Holdings (NYSE: BV) is the largest US commercial landscape services operator with $2.5B+ in revenue. BrightView was formed in 2014 through KKR’s merger of Brickman Group and ValleyCrest, two large commercial landscape services companies. BrightView IPO’d in 2018 on NYSE under ticker BV. Public-company filings disclose acquisition cadence (typically 5-15 strategic acquisitions per year), capital deployment, and integration approach. BrightView focuses on commercial landscape maintenance, design-build, snow services, and tree services.

Yellowstone Landscape (CenterOak Partners) and other commercial landscape PE platforms. Yellowstone Landscape, owned by CenterOak Partners, has grown rapidly through acquisitions of regional commercial landscape services operators. Yellowstone operates 50+ branches across the Sun Belt with run-rate revenue approaching $500M. Heartland Landscape Group is a fast-growing PE-backed commercial landscape platform. US Lawns (franchised) and several regional PE-backed commercial landscape platforms compete actively in commercial maintenance acquisitions. Multiples: 5-7x EBITDA for commercial landscape with strong contract retention.

TruGreen (Roark Capital): the residential lawn care platform. TruGreen, owned by Roark Capital, is the dominant US residential lawn care platform with 2.3M+ subscription customers and $1.5B+ in revenue. TruGreen’s subscription lawn care service model (5-7 application packages billed quarterly or annually) creates strong recurring revenue. Acquisition activity focuses on subscription-style residential lawn care operators with 5,000+ contracted accounts and 80%+ retention rates. Multiples: 6-8x EBITDA for subscription-mix lawn care operators.

Davey Tree, Bartlett Tree Experts, SavATree, and tree services platforms. Davey Tree Expert Company is the largest US tree services operator (employee-owned, ESOP), with significant utility line clearance contracts. Bartlett Tree Experts (private) and SavATree (Apax Partners) compete in commercial and high-end residential tree services. Tree services multiples: 6-8x EBITDA for operators with established commercial vegetation management contracts (utility line clearance) or recurring residential plant healthcare programs. Project-based tree removal trades at 3-5x EBITDA.

Healthcare services platforms beyond dental and veterinary

Healthcare services consolidation in 2026 spans dermatology, ophthalmology, behavioral health, gastroenterology, orthopedics, urgent care, and several other specialty practice types. Each specialty has its own active platform set with 3-8 named PE-backed platforms competing for add-ons. The shared thesis: insurance-billed recurring patient streams, fragmented physician-owned practice ownership, regulatory complexity favoring scale, and demographic tailwinds. Multiples track recurring revenue percentages, specialty technicality, and capital intensity.

Dermatology platforms. US Dermatology Partners (Abry Partners), Schweiger Dermatology (Goldman Sachs and Pamlico Capital), Forefront Dermatology (PEAK Capital), and several smaller specialty-focused platforms compete for dermatology practice acquisitions. Multiples: 7-10x EBITDA for general dermatology practices, 9-12x for cosmetic/Mohs-surgery focused practices. Active expansion across all major US metros.

Ophthalmology platforms. EyeCare Partners (Partners Group), American Vision Partners (Centerbridge), MyEyeDr (Goldman Sachs), and several specialty surgical center platforms (Surgery Partners NASDAQ: SGRY for ASC consolidation; specialty ophthalmology surgical platforms) compete in ophthalmology consolidation. Multiples: 8-12x EBITDA for surgical-center-integrated practices, 6-9x for medical/optometric practices.

Behavioral health, gastroenterology, orthopedics, urgent care. Behavioral health: BayMark Health Services (Webster Capital), Behavioral Health Group (Vistria Group), Acadia Healthcare (NASDAQ: ACHC). Gastroenterology: GI Alliance (Apollo and Frazier Healthcare Partners), United Digestive (Frazier). Orthopedics: USPI (Tenet Healthcare), HOPCo Healthcare Outcomes Performance Company, OrthoVirginia. Urgent care: GoHealth Urgent Care (TPG), American Family Care, MedExpress (Optum). Each has its own buy-box and active acquisition cadence.

Conclusion

PE consolidation in 2026 is dominated by a relatively small set of named platforms with published or known buy-boxes. Apex Service Partners (Alpine), Wrench Group (Leonard Green), Service Logic (Bain), Authority Brands (Roark), Sila Services (Goldman), Champions Group (Blackstone), and Roto-Rooter (Chemed Corp NYSE: CHE) lead home services. Rollins (NYSE: ROL), Anticimex (EQT), Massey Services, Aptive, and Terminix (Rentokil Initial) lead pest control. Heartland Dental (KKR, 3,000+ practices), MB2 Dental (Charlesbank), Smile Brands, and Aspen Dental (Leonard Green) lead dental DSOs. Mars Veterinary Health (2,500+ clinics), NVA (JAB Holding, 1,000+ locations), Thrive Pet Healthcare, and Pathway Vet Alliance lead veterinary. Driven Brands (NASDAQ: DRVN), Caliber Collision, Crash Champions, and Christian Brothers Automotive lead auto repair. BrightView (NYSE: BV), Yellowstone Landscape, TruGreen (Roark), and Davey Tree lead landscape services. US Dermatology Partners, EyeCare Partners, BayMark Health Services, GI Alliance, and dozens of other specialty healthcare platforms lead healthcare services. Matching to the right platform’s buy-box is the single highest-leverage positioning decision sellers make — it shortens the sale process from 9 months to 60-120 days and preserves multiple. And if you want to talk to someone who knows the named platforms personally instead of running a generic auction, we’re a buy-side partner — the buyers pay us, not you, no contract required.

Frequently Asked Questions

Who are the most active PE-backed home services consolidators in 2026?

Apex Service Partners (Alpine Investors, formed 2017, 50-70 add-ons/year), Wrench Group (Leonard Green Partners, recap 2022), Service Logic (Bain Capital, commercial-focused), Authority Brands (Roark Capital, franchised brands), Sila Services (Goldman Sachs Asset Management, Eastern US), Champions Group (Blackstone, 2022, fast-growing), and Roto-Rooter (Chemed Corp NYSE: CHE) for plumbing-led platforms. Each has a known buy-box and acquisition cadence.

How does Apex Service Partners’ acquisition process work?

Apex has a centralized business development team that screens 100+ targets monthly. Buy-box: $500K-$10M+ EBITDA, Sun Belt and select non-Sun Belt geographies, HVAC primary with plumbing and electrical complementary, owner-replaceable operations preferred. Multiples 4-7x EBITDA. Cash at close 70-85%; rollover equity 10-25%; minor earnout. LOI-to-close in 30-60 days for clean financials. Apex’s CEO-1st model means each acquisition is led by a dedicated CEO with M&A and integration experience.

What’s the difference between Wrench Group and Apex Service Partners?

Wrench Group typically pursues larger targets ($1.5-5M+ EBITDA) than Apex (which spans $500K-$10M EBITDA). Wrench Group preserves local brand identity longer post-acquisition. Wrench Group operates Mister Sparky (electrical), Benjamin Franklin Plumbing, and One Hour HVAC brands across 20+ states. Apex operates 100+ locally-branded operations across 25+ states. Wrench Group’s acquisition cadence: 30-50 per year. Apex’s acquisition cadence: 50-70 per year.

What’s Heartland Dental’s typical practice acquisition multiple?

Heartland Dental affiliates 200+ practices per year with multiples in the 5-7x EBITDA range for general dentistry practices. Larger specialty practices (orthodontics, oral surgery, pediatric, endodontics) command 7-10x EBITDA. Heartland’s buy-box: $1M+ practice revenue, 1-3 dentists, growing geographies, strong PPO mix. Selling dentist typically continues 5-10 years post-affiliation. Cash at close 70-85%; rollover equity 10-25% with 5-7 year vesting; performance-based earnout on patient retention or production metrics.

Which veterinary platforms compete for specialty hospital acquisitions?

Mars Veterinary Health (BluePearl portfolio), Ethos Veterinary Health (PE-backed), Compassion-First Pet Hospitals (now Mars), VetCor (Oak Hill Capital and others), and several specialty-focused PE platforms compete for premium specialty/emergency hospitals at 12-18x EBITDA. NVA (JAB Holding), Thrive Pet Healthcare (TSG Consumer Partners), Pathway Vet Alliance (Morgan Stanley) compete primarily for general practice acquisitions at 8-12x EBITDA. Premium specialty hospitals typically see 4-8 active bidders.

How active is Rollins (NYSE: ROL) in pest control acquisitions?

Rollins discloses 30-50 acquisitions per year in public filings, ranging from small tuck-ins to existing Orkin or HomeTeam routes (multiples 3-5x SDE) up to mid-size regional operators ($1-5M EBITDA, multiples 6-9x EBITDA). Rollins operates Orkin (flagship), Western Pest Services, HomeTeam Pest Defense, Critter Control, Northwest Exterminating, OPC Pest Services, Trutech, and a dozen+ regional brands. Run-rate revenue exceeds $3B as of 2026.

What are the most active PE-backed roofing consolidators in 2026?

Tecta America (Altas Partners) leads commercial roofing consolidation with 80+ locations. CentiMark Corporation is a long-running commercial roofing operator with begun add-on activity. Coastal Roofing Companies and RoofSmith Restoration are residential-focused platforms. Several PE firms (Trivest, Greenbriar Equity, Bain’s Service Logic) launched dedicated roofing platforms in 2023-2025. Multiples: 3.5-5x EBITDA for sub-$2M EBITDA, 5-7x for $2-5M EBITDA with commercial service mix.

Should I prefer a public-company buyer (like Driven Brands or Rollins) over a PE-backed platform?

Trade-offs both ways. Public-company buyers offer transparency (disclosed multiples, integration approach via 10-K filings), longer-term capital horizons, and stable strategic direction. PE-backed platforms often pay slightly higher multiples (especially newer/well-capitalized platforms in early formation), are more flexible on deal structure, and offer rollover equity participation in platform appreciation through future exit. Best approach: talk to both types in parallel during the sale process to maintain leverage.

How do Authority Brands acquisitions work for franchisees?

Authority Brands acquires franchisees of its existing brand portfolio (One Hour HVAC, Benjamin Franklin Plumbing, Mister Sparky electrical, Mosquito Squad pest control, etc.), converting franchisees to company-owned locations. Buy-box: $1M+ EBITDA, growing market, owner willing to convert to company-owned model. Multiples 4-6x EBITDA. Authority Brands also acquires new brands at the system level (6-9x EBITDA depending on franchise system size and royalty structure). Roark Capital is the parent.

Is Champions Group really paying premium multiples in 2026?

Yes — Blackstone’s significant capital commitment and platform deployment urgency in 2023-2025 drove Champions Group to occasionally outbid Apex, Wrench Group, and Sila on competitive deals. Multiples in 5-7.5x EBITDA range, often at the higher end of comparable transactions. Whether this premium continues depends on platform integration progress and ongoing sponsor capital availability. Sellers in active expansion markets should consider Champions Group as a competitive bidder option.

What’s the most active PE platform in commercial landscape services?

BrightView Holdings (NYSE: BV) leads at $2.5B+ revenue with 5-15 strategic acquisitions per year. Yellowstone Landscape (CenterOak Partners) is the fastest-growing PE-backed competitor with run-rate revenue approaching $500M and concentration in Sun Belt. Heartland Landscape Group, US Lawns (franchised), Greenscape, and several regional PE-backed platforms compete in commercial maintenance acquisitions. Multiples: 5-7x EBITDA for commercial landscape with strong contract retention and route density.

How do I figure out which named platform fits my specific business?

Three-step approach. First, identify your industry’s active platforms (this guide is the starting point). Second, match against each platform’s known buy-box: minimum/maximum EBITDA, geography, customer mix, recurring revenue percentage, owner involvement post-close. Third, prioritize 2-4 platforms most likely to be competitive bidders and reach them through a buy-side intermediary or direct relationship. The buy-side intermediary who already knows the platforms’ current activity status (vs platform integration pause) shortens the sale process by 6-9 months.

How is CT Acquisitions different from a sell-side broker or M&A advisor?

We’re a buy-side partner, not a sell-side broker. Sell-side brokers represent you and charge you 8-12% of the deal (often $300K-$1M) plus monthly retainers, run a 9-12 month auction process, and require 12-month exclusivity. We work directly with 76+ buyers — including the named PE platforms in this guide (Apex, Wrench Group, Service Logic, Authority Brands, Sila, Champions, Heartland Dental, MB2, Mars Vet, Driven Brands, BrightView, Yellowstone, Rollins) and dozens of less-publicized active consolidators — who pay us when a deal closes. You pay nothing. No retainer, no exclusivity, no contract until a buyer is at the closing table. We move faster (60-120 days from intro to close) because we already know which platform’s buy-box fits your business.

Sources & References

All claims and figures in this analysis are sourced from the publicly available references below.

1. Alpine Investors Portfolio — Apex Service Partners — Sponsor disclosure of Apex Service Partners HVAC, plumbing, and electrical consolidation strategy, CEO-1st operating model, and portfolio composition across 25+ states.
2. Leonard Green & Partners — Wrench Group Recapitalization — Sponsor disclosure of Wrench Group home services platform, including 2022 recapitalization, multi-brand strategy across HVAC, plumbing, and electrical, and Eastern US-focused acquisition strategy.
3. Bain Capital Portfolio — Service Logic — Sponsor disclosure of Service Logic commercial HVAC consolidation, 2022 recapitalization, and 8,000+ technician scale across 40+ states with controls and building automation specialty.
4. Roark Capital Portfolio — Authority Brands — Sponsor disclosure of Authority Brands franchised home services portfolio (14+ brands, 1,500+ franchise locations) including One Hour HVAC, Benjamin Franklin Plumbing, Mister Sparky, and adjacent service verticals.
5. Goldman Sachs Asset Management — Sila Services — Sponsor disclosure of Sila Services home services consolidation, 2018 platform formation, and Eastern US-focused acquisition strategy across 15+ states.
6. Blackstone — Champions Group Platform Formation — Sponsor disclosure of Champions Group 2022 platform formation, capital commitment, and 50+ acquisitions across HVAC, plumbing, and electrical contracting in first 36 months.
7. Rollins, Inc. (NYSE: ROL) Investor Relations — Public-company filings disclosing 30-50 pest control acquisitions per year, brand portfolio (Orkin, Western Pest Services, HomeTeam Pest Defense, Critter Control, etc.), and acquisition multiple precedent.
8. Heartland Dental Affiliated Practice Network — Public-facing disclosure of 3,000+ affiliated practices, KKR partnership and founder leadership, and 200+ practice-per-year affiliation cadence supporting 5-7x EBITDA general dentistry multiple.
9. Mars Veterinary Health Network (Banfield, BluePearl, VCA) — Disclosure of 2,500+ veterinary clinics globally under Banfield Pet Hospital, BluePearl Specialty + Emergency Pet Hospital, VCA Animal Hospitals brand portfolio, and Antech Diagnostics.
10. Driven Brands Holdings (NASDAQ: DRVN) Investor Relations — Public-company filings disclosing 4,800+ locations across Take 5 Oil Change, Meineke, Maaco, CARSTAR, 1-800-Radiator/Auto Glass Now, ABRA Auto Body, and 50-100+ acquisitions per year.