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PE-backed Wrench acquires NextGen

Wrench Group, which is backed by Leonard Green & Partners, has acquired NexGen Air Conditioning & Plumbing, a California-based home services company.

Wrench Group, which is backed by Leonard Green & Partners, has acquired NexGen Air Conditioning & Plumbing, a California-based home services company. No financial terms were disclosed.

PRESS RELEASE

ANAHEIM, Calif.–(BUSINESS WIRE)–Wrench Group (“Wrench”), a national leader in home services, announced that NexGen Air Conditioning & Plumbing, one of the top home services companies in Southern California, has joined the Wrench family of brands. This is Wrench’s first expansion into the nation’s second-largest market. The company now operates in 21 markets nationwide, including a presence in six of the ten largest markets in the U.S.

NexGen is one of the most phenomenal growth stories in the industry having started just six years ago by Founder and President Ismael Valdez, who launched his own business to create a next generation company offering outstanding service with honest, transparent pricing. This approach struck a chord with customers, and now the company has eight locations serving homeowners across Los Angeles, Orange County and Southern California.

“We’ve been looking to expand to Southern California for a while but wanted to make sure we found a partner that was the right match,” said Ken Haines, CEO of Wrench Group. “Under Ismael’s visionary leadership, NexGen has displayed the ability to post extraordinary growth while maintaining the highest levels of customer service and loyalty.”

“Milestones like today are what we’ve pursued since I started NexGen with just five technicians and an American dream,” said Valdez. “Becoming the biggest and best in Southern California has always been our goal. Joining the nation’s best home service companies in Wrench Group will help us to grow upon our reputation of family-like service to support thousands more customers every year.”

NexGen offers heating, air conditioning, plumbing, drain cleaning, and air quality services for both residential and light commercial customers all backed by quality guarantees. They also sell their own NexGen branded line of heating and cooling equipment. The company has locations in Anaheim, Arcadia, Laguna Hills, Ontario, Palm Desert, Riverside, Torrance and Simi Valley.

NexGen employs more than 400 people in the area and serves more than 100,000 homeowners across Southern California. The company also demonstrates its commitment to serving the community through Project X, which provides free heating and cooling equipment to those in need and to families of military veterans.

About Wrench Group
Wrench Group, LLC is a national leader operating in 21 markets across 11 states, The locations provide home repair, replacement and maintenance services specializing in heating, ventilation and air conditioning, plumbing, water, and electrical services. The company collectively serves more than 1.7 million customers annually with more than 5,300 team members in the Atlanta, Austin, Charlotte, Cincinnati, Columbus, Dallas, Denver, Fort Myers-Naples, Houston, Indianapolis, Jacksonville, Los Angeles, Louisville, Orlando, Palm Springs, Phoenix, Sacramento, San Francisco Bay Area, southern Maryland, Tampa Bay and Tucson metropolitan areas.

The locations have developed strong reputations with brands that date back to the 1940s. For more information, please visit us at www.wrenchgroup.com.