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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.
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.
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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