TSG and Oak Hill invest in HVAC and plumbing firm Wrench Group

As part of the transaction, existing investor Leonard Green & Partners, along with management, will retain a majority stake in Wrench Group.

  • Upon closing, Ken Haines will continue to serve as CEO of Wrench Group
  • Wrench Group currently serves over 1.7 million customers
  • TSG Consumer Partners was founded in 1986

TSG Consumer Partners and Oak Hill Capital have made a significant minority investment in Atlanta-based Wrench Group, a provider of residential HVAC, plumbing, and electrical services. No financial terms were disclosed.

As part of the transaction, existing investor Leonard Green & Partners, along with management, will retain a majority stake in Wrench Group.

Upon closing, Ken Haines will continue to serve as CEO of Wrench Group.

Wrench Group currently serves over 1.7 million customers annually across 16 brands in 24 markets throughout the U.S.

“Wrench has been a business that we have admired from afar for a while and are thrilled that we now get to partner with, and work alongside management, Oak Hill and LGP to accelerate the company’s next phase of technology-enabled growth,” said Bill Cooling, a managing director at TSG Consumer Partners, in a statement.

LGP has over $70 billion of assets under management. The firm primarily focuses on companies providing services, including consumer, healthcare, and business services, as well as retail, distribution and industrials.

TSG Consumer Partners was founded in 1986.

Oak Hill has raised approximately $20 billion of initial capital commitments and co-investments.