Most-Read: September
A roundup of our five most-read stories from September
Image: Homepros
Morgan Stanley exploring $1.5 billion Sila Services sale
Morgan Stanley is exploring a sale of Sila Services that could value the company at “about” $1.5 billion, Reuters reported.
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Why it matters: The potential sales price implies a roughly 15x multiple of the company’s near-$100 million EBITDA, according to Reuters.
An inside look at Genz-Ryan’s tech stack
Travel about 20 minutes south of Minneapolis and you’ll find Genz-Ryan, an HVAC, plumbing, and electrical company serving the Twin Cities for almost 75 years.
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The big picture: Seven core pieces of software keep Genz-Ryan running: ServiceTitan (including Phones Pro), Avoca, Faraday, measureQuick, Rilla, Buck.ai, and Hatch.
The Amazon effect hits the HVAC industry
Plenty of industries resist change — until they don’t.
Sure, the HVAC industry has been slow to adopt technology compared to others, but the influx of software companies suggests it’s coming around.
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A 2022 report, for example, shows 18 field service management vendors serving the HVAC and plumbing industries, with ServiceTitan last valued at over $9 billion.
How Paschal Air, Plumbing & Electric built a winning culture
I recently saw a video tour of Paschal Air, Plumbing & Electric’s headquarters in Northwest Arkansas, and it took me two minutes to remember that I wasn’t looking at one of Google’s offices.
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I wanted to know the logic behind the office investment, so I reached out to Jake Winchell, Paschal’s Sales and Marketing Director, and it turns out there’s a lot more than meets the eye.
Quilt plots its future in the HVAC industry
Quilt, the two-year-old HVAC startup, recently announced that its flagship heat pump achieved a 25 SEER2 rating, as certified by AHRI, making it the “most efficient 2-zone heat pump on the market.”
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The intrigue: The company has gained lots of attention since launching, so we caught up with CEO Paul Lambert to better understand its strategy and how contractors fit in.
Keep reading
House, Senate pass competing budgets: What’s at stake for contractors
Budget proposals from both chambers of Congress tee up several decisions that could impact contractors in the months ahead
ServiceTitan mulling IPO before year-end
The company has been waiting for "favorable market conditions," according to an investor
Wary consumers, low housing turnover weighing on home improvement spending: Home Depot
Home Depot executives said Tuesday that anxious consumers and low housing turnover are depressing home improvement spending
