With the expansion, the company now has a presence with its regional brands in 13 markets across the country. However, rather than adding these latest markets through mergers and acquisitions, as has been Wrench’s primary means of geographic expansion in the past, these two new markets are the result of a “greenfield” strategy. For this approach, Wrench plans to add approximately 20 built-from-the-ground-up locations over the next several years in key markets across the country, investing heavily to open new facilities, hire staff, and provide marketing, advertising and operations support.
“The home services industry is extremely hot right now, as it’s proven itself to be recession-resistant and has continued to thrive during the global pandemic,” said Ken Haines, Wrench Group CEO. “That’s fantastic for the growth of our regional brands, and also good for us as a company. Our greenfield strategy is a natural complement to our ongoing strategic M&A activity, as we currently see multiple paths to grow and add new markets.”
In Austin, Abacus Plumbing, Air Conditioning & Electrical will expand to the area after nearly two decades of serving Texas families in the Houston area. Abacus plans to have 75 employees in Austin by 2023. In Orlando, CoolToday, a home services provider with nearly 60 years of experience and five other Florida locations, will set up shop and aims to have 150 employees in Central Florida by 2024. According to Haines, the goal for these two markets was to establish new locations of well-respected regional companies, not start a new brand from scratch.
About Wrench Group
Wrench Group, LLC is a national leader in home repair, replacement and maintenance services specializing in heating, ventilation and air conditioning, plumbing, water, and electrical services. The company collectively serves more than 700,000 customers annually with over 3,000 team members in the Atlanta, Austin, Dallas, Denver, Fort Myers, Houston, Jacksonville, Naples, Orlando, Phoenix, Sacramento, Sarasota, San Francisco Bay Area and Tampa 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.