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In this enlightening episode of Sell or Scale, John Bartlett interviews Jack Werner, who shares the remarkable journey of HomeX Services Group from a 2016 startup to a $400M revenue powerhouse employing 1,500 people across six states in the HVAC, plumbing, and electrical services industries.
Coming from the family-owned Werner Ladders business, Jack Werner brings a unique acquisition perspective. Unlike traditional private equity firms, HomeX Services Group emphasizes long-term ownership and people development while providing operational expertise through specialized centers of excellence.
The company maintains a strategic 50-40-10 split between residential service, commercial service, and construction work, allowing it to manage seasonality and maintain consistent work for its employees. Their acquisition approach is flexible, tailoring deal structures to meet sellers’ specific needs and circumstances.
Werner details their thorough yet efficient 8-10 week acquisition process, which includes quality of earnings review, legal work, and operational integration planning. He emphasizes the importance of maintaining confidentiality throughout the process and timing employee communications appropriately.
Werner offers crucial advice for business owners contemplating a sale: ensure the business can operate independently, maintain clean financial statements, and prepare emotionally for the transition. He particularly stresses the value of building relationships with potential buyers well before considering a sale, noting that buyers prefer to choose rather than be sold to.
The conversation provides valuable insights for service business owners considering their exit options, highlighting the importance of finding a buyer whose culture and values align with theirs. Werner’s approach demonstrates that successful acquisitions require more than just financial considerations–they need a clear vision for growth and a commitment to maintaining the business’s core values.
