American Residential Services is in advanced sale talks with potential buyers valuing the company at more than $3.5 billion, according to PE Insights citing Reuters sources. The process, managed by Rothschild, is early-stage with no certainty of completion. The company, which provides HVAC, plumbing, and ventilation services, generates $200 million in EBITDA and over $1.5 billion in annual revenue.

GI Partners acquired the business in 2020 alongside existing investor Charlesbank Capital Partners and management. The potential deal underscores ongoing private equity interest in residential services, a sector with recurring demand and defensive revenue profiles. The company completes approximately 1.2 million customer visits yearly and employs over 6,000 people, including 2,500 technicians.

This activity follows recent PE acquisitions like Blackstone's $800 million purchase of Champions Group and Oak Hill's $800 million deal for Guild Garage Group. The sale process highlights sector momentum as firms deploy capital into home services platforms.