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Peer Fund / Dealmaker·Home Services

Ken Haines

Chief Executive Officer at Wrench Group

Marietta, Georgia (Atlanta metro), USA

KH
Why they matter

Built and scaled Wrench Group into a 28-brand, 15-state HVAC/plumbing platform through three successive PE ownership changes — a proven playbook for home-services roll-ups.

Background

Ken Haines has spent more than 40 years in the residential HVAC, plumbing, and home services industry, starting his own repair business at age 19 before purchasing Atlanta-based Coolray in 2003 and growing it from $6M to over $60M in revenue by 2015. In 2016 he was named CEO of the newly formed Wrench Group, an Investcorp-backed merger of Coolray, Parker & Sons, and Abacus Plumbing, which he has since built into a national platform of roughly 28 operating companies across 15 states.

Notable deals

  • 2015
    Grew Coolray from $6M to over $60M in revenue as owner/CEO before it became a founding Wrench Group brand
  • 2016
    Named CEO of newly formed Wrench Group, merging Coolray, Parker & Sons, and Abacus Plumbing under new Investcorp backing
  • 2019
    Led Wrench Group through its sale by Investcorp to Leonard Green & Partners
  • 2022
    Secured minority recapitalization from TSG Consumer Partners and Oak Hill Capital alongside majority holder Leonard Green

Call-prep brief

Background

  • 40+ years in HVAC/home services; started his own repair business at 19 on Long Island before relocating to the Atlanta market.
  • Purchased Coolray in 2003 ($6M revenue) and grew it to $60M+ by 2015.
  • Named CEO of newly formed Wrench Group in 2016 (merger of Coolray, Parker & Sons, Abacus Plumbing), backed by Investcorp.

Current Focus

  • Leads Wrench Group: ~28 operating companies across 15 states, ~7,300 employees, 400,000+ service agreements, 1.75M+ customers/year in HVAC, plumbing, and electrical.
  • Company has passed through three PE ownership structures: Investcorp (2016) → Leonard Green & Partners majority buyout (2019) → TSG Consumer Partners/Oak Hill Capital minority recap alongside LGP (2022) → $1.3B debt refinancing led by Blue Owl/Oak Hill Advisors (Sept 2025).
  • Growth strategy: acquire market-leading local operators, let them retain branding and culture, layer in shared tech/marketing/ops resources — his phrase is "pour jet fuel on an already raging fire."

What He Cares About

  • Local brand autonomy over top-down standardization.
  • Profit-sharing extended to rank-and-file managers, not just executives.
  • Cross-market collaboration and a disciplined, repeatable M&A integration process.

Sensitivities

  • Just closed a large $1.3B debt refinancing (Sept 2025) — leverage levels and lender terms may be a guarded topic.
  • Three sponsor transitions since 2016; be tactful discussing sponsor tenure, exit timing, or competitive processes.

Questions to Ask

  1. How has adding TSG and Oak Hill alongside Leonard Green changed underwriting speed or deal appetite for new platform adds vs. tuck-ins?
  2. With the $1.3B refinancing just closed, what's the near-term appetite for further debt-funded M&A vs. organic same-store growth?
  3. What criteria determine whether an acquired local brand keeps its name and ownership structure vs. gets folded into shared platform operations?

Outreach draft

Subject
Home Services Roll-Up Playbook — Quick Call?
Hi Ken, I've been following Wrench Group's growth since the 2016 formation — 28 brands across 15 states and three successful private equity partnerships is a rare track record in home services consolidation. I'm working with a deal team studying roll-up strategies in HVAC, plumbing, and electrical services, and your experience balancing local brand autonomy with shared operating infrastructure would be genuinely valuable to hear firsthand. Would you have 20-30 minutes in the next couple of weeks for a call? Happy to work around your schedule, and glad to share more about what we're working on beforehand if useful. Best, [Placeholder Name]

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