Funds advised by Permira have agreed to acquire a majority stake in Flint Group, a US residential home services platform, from General Atlantic. Financial terms were not disclosed.
Flint provides HVAC, plumbing, electrical, and sewer and drain services through a portfolio of local brands. Founded in 2019 by Collin Hathaway and Trevor Flannigan, it now runs 20 brands across 15 US markets and describes itself as one of the fastest organically growing residential services platforms in the country. Much of that expansion took place under General Atlantic. When the growth investor announced its strategic investment in August 2023, Flint had seven businesses across five primary markets. Three years on, it has nearly tripled its brand count.
"Over the past three years, Trevor and the team executed at the highest level, driving above-market organic growth while accelerating the pace of M&A, deepening the Company’s executive team, advancing digital marketing capabilities, and improving the customer experience," said Andrew Ferrer, Managing Director at General Atlantic.
Source: PE Insights · Summarized by HeadlinesBriefing