Morgan Stanley exploring $1.5 billion Sila Services sale
The potential sales price implies a roughly 15x multiple of the company's near-$100 million EBITDA, according to Reuters
Image: Sila Services
Morgan Stanley is exploring a sale of Sila Services that could value the company at “about” $1.5 billion, Reuters reported.
Why it matters: The potential sales price implies a roughly 15x multiple of the company’s near-$100 million EBITDA, according to Reuters.
Catch up: Morgan Stanley Captial Partners, an arm of Morgan Stanley, purchased the company in 2021 for an undisclosed sum.
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Sila Services operates over 30 HVAC, plumbing, and electrical brands, primarily in the Northeast and Mid-Atlantic.
What’s happening: The deal would be the first major home services platform sale in over a year, following General Atlantic’s investment in Flint Group last August.
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No potential buyers have been named yet, and neither Sila Services nor William Blair, the investment bank working with Sila, responded to Homepros’ request for comment.
Of note: The 15x multiple that Reuters reported is likely on the low end, a few people familiar with the matter told Homepros.
The bottom line: The multiple Sila fetches in the case of a sale will be an important comp for residential HVAC owners and investors moving forward.
Editor’s note: This story has been updated to reflect the latest information.
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