Most-Read: September

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.

Why it matters: The potential sales price implies a roughly 15x multiple of the company’s near-$100 million EBITDA, according to Reuters.

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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.

The big picture: Seven core pieces of software keep Genz-Ryan running: ServiceTitan (including Phones Pro), Avoca, Faraday, measureQuick, Rilla, Buck.ai, and Hatch.

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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.

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.

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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.

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.

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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.”

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.

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