American Residential Services explores $3.5 billion sale
GI Partners is exploring a sale of American Residential Services that could value the HVAC provider at over $3.5 billion. Rothschild is managing the process.
The private equity firm GI Partners is exploring a potential sale of American Residential Services (ARS), a leading provider of heating, ventilation, air conditioning (HVAC), and plumbing services. According to individuals familiar with the matter, the transaction could value the company at more than $3.5 billion. The sale process is currently being managed by the investment bank Rothschild & Co through its business services franchise.
Based in the United States, the Memphis-headquartered ARS generates approximately $200 million in annual earnings before interest, taxes, depreciation, and amortization (EBITDA). The company also reports annual revenue exceeding $1.5 billion. GI Partners became the majority owner of the business in 2020, while Charlesbank Capital Partners and the company’s management team remained invested in the business.
