---
title: "Plumbing M&A Statistics 2025: 50+ Cited Data Points on the Private Equity Roll-Up"
description: "Every cited statistic on plumbing M&A activity in 2024–2026 — BizBuySell's 46% median-sale-price gain (2022–2025), the ~800 MEP companies acquired by PE since 2022 (PitchBook via WSJ), Apex's $10B Apollo deal, EBITDA multiples by tier, and the active PE-backed plumbing platforms. Sourced from PitchBook, BizBuySell, IBISWorld, BLS, PrivSource, and primary deal announcements."
slug: "plumbing-ma-statistics-2025"
canonical: "https://mainstreetwealth.ai/resources/plumbing-ma-statistics-2025"
collection: "resources"
collection_name: "M&A Resources & Insights"
author: "Sukhrobjon Ismoilov"
category: "market-trends"
date_published: "2026-06-01T17:09:30.000Z"
date_modified: "2026-06-01T17:09:30.000Z"
token_estimate: 5202
source: "https://mainstreetwealth.ai/resources/plumbing-ma-statistics-2025.md"
---

# Plumbing M&A Statistics 2025: 50+ Cited Data Points on the Private Equity Roll-Up


> Every cited statistic on plumbing M&A activity in 2024–2026 — BizBuySell's 46% median-sale-price gain (2022–2025), the ~800 MEP companies acquired by PE since 2022 (PitchBook via WSJ), Apex's $10B Apollo deal, EBITDA multiples by tier, and the active PE-backed plumbing platforms. Sourced from PitchBook, BizBuySell, IBISWorld, BLS, PrivSource, and primary deal announcements.

**Author:** Sukhrobjon Ismoilov  
**Published:** 2026-06-01  
**Canonical:** https://mainstreetwealth.ai/resources/plumbing-ma-statistics-2025

# Plumbing M&A Statistics 2025: 50+ Cited Data Points on the Private Equity Roll-Up

> **Headline stat (BizBuySell, 2022–2025):** The median sale price of plumbing businesses sold on BizBuySell increased **46% from 2022 to 2025** — the largest gain in any home-services trade tracked on the marketplace ([BizBuySell via FinancialContent](https://markets.financialcontent.com/stocks/article/marketersmedia-2026-5-29-texas-plumbing-business-sales-growth-framework-and-exit-readiness-guide-released)).

> **Headline stat (PitchBook via WSJ, 2022–early 2025):** Private equity has acquired **nearly 800 mechanical-electrical-plumbing (MEP) companies since 2022**, per PitchBook data cited by the *Wall Street Journal* and summarized in [Contractor Magazine](https://www.contractormag.com/management/article/55277446/solid-business-sense-private-equity-and-the-mep-trades).

This page is a single, citation-backed reference for plumbing M&A activity in 2024–2026 — deal volume, multiples, market size, the active PE-backed platforms, technician demand, and what BizBuySell shows for the smaller end of the market. Every figure links to its primary source.

**Last updated:** June 2026. We refresh this page quarterly as new PitchBook, IBISWorld, BLS, and BizBuySell data is published.

## Why plumbing became one of private equity's favorite trades

Three structural factors compounded into a roll-up boom:

- **Scale and fragmentation.** [IBISWorld estimates U.S. plumber revenue at ~$191.4 billion in 2026](https://ibisworld.com/united-states/market-research-reports/plumbers-industry/), with a 3.1% five-year CAGR. The industry is overwhelmingly local and owner-operated — the textbook condition for a roll-up thesis.
- **Non-discretionary demand.** Drains, water heaters, leaks, and repipes are needs-based services. Demand is decoupled from discretionary spending and tracks the housing stock more than consumer confidence.
- **Technician scarcity is a moat.** The U.S. Bureau of Labor Statistics projects **~44,000 annual openings** for plumbers, pipefitters, and steamfitters through 2032 ([BLS Occupational Outlook Handbook](https://www.bls.gov/ooh/construction-and-extraction/print/plumbers-pipefitters-and-steamfitters.htm)) — almost entirely driven by retirements and exits, not net employment growth. Operators with stable, productive technician benches are scarce strategic assets.

The same MEP roll-up platforms pushing HVAC multiples to record levels — Apex Service Partners, Wrench Group, Sila Services, Hoffman Family of Companies, Service Logic — are aggressively acquiring plumbing companies to round out their service mix ([BusinessExits](https://businessexits.com/sell-your-plumbing-business/)). On top of that, dedicated plumbing platforms like P3 Services have emerged with the explicit thesis that pure-plumbing scale is itself an under-served opportunity.

## Plumbing M&A deal volume

| Metric | Value | Source |
|---|---|---|
| MEP companies acquired by PE since 2022 (per WSJ via PitchBook) | **~800** mechanical, electrical, plumbing | [Contractor Magazine summarizing WSJ / PitchBook](https://www.contractormag.com/management/article/55277446/solid-business-sense-private-equity-and-the-mep-trades) |
| PrivSource-tracked plumbing deals (2024) | **7 tracked deals** announced | [PrivSource](https://www.privsource.com/acquisitions/plumbing/2018) |
| PE-backed plumbing acquirers tracked (2024) | **4 tracked deals** | [PrivSource — PE-Backed Plumbing](https://www.privsource.com/acquisitions/private-equity-backed-acquisitions/plumbing) |
| Apex Service Partners add-ons (2025, plumbing + HVAC + electrical) | **~60** in a single year | [Alpine via PitchBook](https://pitchbook.com/news/articles/alpine-targets-1b-fund-to-invest-in-its-own-businesses) |
| Apex Service Partners enterprise valuation (May 2026) | **~$10 billion** | [Reuters](https://www.reuters.com/legal/transactional/apex-service-partners-nears-minority-stake-sale-10-billion-valuation-source-says-2026-05-27/) |
| Q4 2025 PE deal count, construction & engineering (broad sector) | **458 deals**, record on PitchBook's dataset | [PitchBook](https://pitchbook.com/news/reports/q4-2025-construction-engineering-report) |

### How to read these numbers

PrivSource's deal counts are conservative because they only include deals their analysts could verify. The ~800 MEP figure carried by *Contractor Magazine* (citing the *Wall Street Journal* and PitchBook) is the broadest commonly cited number and includes plumbing, HVAC, and electrical platform deals plus add-ons.

The cleanest single-platform comp is Apex Service Partners — Alpine Investors disclosed [~60 add-on acquisitions in 2025](https://pitchbook.com/news/articles/alpine-targets-1b-fund-to-invest-in-its-own-businesses) across HVAC, plumbing, and electrical, valued at ~$10 billion enterprise value in [its May 2026 minority-stake sale to Apollo](https://www.apollo.com/institutional/insights-news/pressreleases/2026/05/apex-service-partners-and-alpine-investors-announce-strategic-mi). For owners considering a sale, that single platform's appetite gives a clean signal that buyer demand is real and well-funded. We unpack the buyer landscape and process in our [plumbing M&A overview](/industries/plumbing).

## Plumbing valuation multiples (2024–2025)

EBITDA multiples in plumbing trade in a wide band depending on size, mix, and recurrence. Aggregated published research:

| Source | Tier / Definition | EBITDA Multiple |
|---|---|---|
| [Regalis Capital](https://learn.regaliscapital.com/what-is-my-plumbing-company-worth/) | Typical lower-middle-market plumbing | **2.9x – 5.0x** EBITDA / **2.2x – 3.5x** SDE |
| [ClearlyAcquired](https://www.clearlyacquired.com/blog/ebitda-multiples-for-hvac-plumbing-and-electrical-contractor) | Smaller plumbing firms | **2.43x – 4.45x** EBITDA |
| [ClearlyAcquired](https://www.clearlyacquired.com/blog/ebitda-multiples-for-hvac-plumbing-and-electrical-contractor) | Larger plumbing with service contracts | **6x – 7x** EBITDA |
| [Viking Mergers](https://www.vikingmergers.com/valuation-multiples-by-industry/selling-a-plumbing-and-electrical-business/) | Plumbing & electrical (full range) | **5.9x – 11.4x** EBITDA |
| [PushLeads](https://pushleads.com/how-to-sell-your-home-service-business/plumbing-business-valuation/) | Larger plumbing companies | **3.5x – 5.5x** EBITDA |
| [BusinessExits](https://businessexits.com/sell-your-plumbing-business/) | Tuck-ins / mid-tier / platform-quality | **3x – 5x / 5x – 7x / 7x – 10x+** |
| [GF Data via Forvis Mazars](https://www.forvismazars.us/forsights/2025/09/q2-2025-middle-market-m-a-insights-signs-of-potential-recovery) | All PE-backed mid-market (cross-sector benchmark) | **7.2x** TEV/EBITDA average YTD 2025 |

### What drives the spread

The 2.5x–11x range tracks five buyer-underwriting variables:

1. **Drain & sewer mix.** High-frequency emergency drain and sewer work commands premium multiples because of call density and same-day close rates.
2. **Service-agreement attach rate.** 20%+ membership penetration with 70%+ renewal rates is a meaningful multiple driver.
3. **Repipe & water-heater capability.** In-house repipe and tankless install capability widens margin and de-commoditizes the offering.
4. **Service vs. new-construction mix.** Service-led businesses (70%+ service) clear 6x–8x. New-construction-heavy plumbing trades 3x–4x because it is cyclical.
5. **Technician productivity.** $700K+ revenue per service tech and $1,500+ average ticket signal a tightly run shop. Buyers benchmark these against ServiceTitan and Housecall Pro datasets.

For a deeper walkthrough of how a specialized sell-side process captures the upper end of this multiple range, see [working with a plumbing business broker](/industries/plumbing-business-broker).

## What's actually selling on BizBuySell (smaller end of the market)

For sub-$5M-revenue plumbing transactions that don't show up in PitchBook's PE-backed dataset, [BizBuySell](https://www.bizbuysell.com/learning-center/valuation-benchmarks/plumbing/) is the largest public dataset:

| Stat | Value | Source |
|---|---|---|
| Median plumbing sale price (2021 → 2024) | **$450K → $640K**, +40%+ | [BizBuySell](https://www.bizbuysell.com/learning-center/valuation-benchmarks/plumbing/) |
| Median plumbing sale price (2022 → 2025) | **+46%**, the largest gain in home services | [BizBuySell via FinancialContent](https://markets.financialcontent.com/stocks/article/marketersmedia-2026-5-29-texas-plumbing-business-sales-growth-framework-and-exit-readiness-guide-released) |
| Median asking price (current snapshot) | **$795,000** | [Regalis Capital citing BizBuySell](https://learn.regaliscapital.com/what-is-my-plumbing-company-worth/) |
| Median SDE (current snapshot) | **~$287,000** | [Regalis Capital](https://learn.regaliscapital.com/what-is-my-plumbing-company-worth/) |
| Q3 2025 closed business-for-sale transactions (all categories) | **2,599 deals**, +8% YoY | [BizBuySell Q3 2025 Insight Report](https://www.bizbuysell.com/news/bizbuysell-2025-third-quarter-insight-report/) |
| Adjacent — Electrical & Mechanical Contractors median (2020 → 2024) | **$595K → $875K**, +45%+ | [BizBuySell](https://www.bizbuysell.com/learning-center/valuation-benchmarks/electrical-mechanical-contractor/) |
| Adjacent — Building & Construction median (2021 → 2025) | **+19%**, asking price **+28%** | [BizBuySell](https://www.bizbuysell.com/learning-center/valuation-benchmarks/building-construction/) |

The 46% median-sale-price increase from 2022 to 2025 is the single most quotable number in plumbing M&A right now. It is the largest five-year gain BizBuySell has tracked across home-services trades on its marketplace.

## The active PE-backed plumbing platforms (representative, not exhaustive)

The plumbing roll-up universe is split into two camps: dedicated plumbing platforms, and broader MEP / home-services platforms that include plumbing as one of multiple service lines.

**Dedicated plumbing platforms**

- **P3 Services (formerly Peltram Plumbing Holdings)** — Stellex Capital Management acquired the platform from Crescendo Capital Partners and is building a national pure-plumbing roll-up across residential, multi-family, and light commercial ([PrivSource](https://www.privsource.com/acquisitions/deal/p3-services-acquires-six-local-plumbing-and-septic-businesses-across-the-u-s-gaSjZ6); [PE Hub](https://www.pehub.com/stellex-acquisition-of-p3-plumbing-services-platform-from-crescendo-benefits-from-pandemic-era-focus-on-the-home/)). P3 closed at least 11 acquisitions since launch ([BusinessWire](https://www.businesswire.com/news/home/20230705650772/en/P3-Services-Finds-New-Anchor-in-the-San-Antonio-Market-With-Latest-Acquisition)) and added six local plumbing and septic acquisitions in a single 2025 push.
- **Trades Holding (a CPC company)** — multi-region plumbing and trades platform tracked by [PrivSource](https://www.privsource.com/acquisitions/plumbing/2025).

**Broader MEP / home-services platforms acquiring plumbing**

- **Apex Service Partners** — Alpine Investors / Apollo, ~$10B EV, ~60 add-ons in 2025 ([Reuters](https://www.reuters.com/legal/transactional/apex-service-partners-nears-minority-stake-sale-10-billion-valuation-source-says-2026-05-27/), [Apollo press release](https://www.apollo.com/institutional/insights-news/pressreleases/2026/05/apex-service-partners-and-alpine-investors-announce-strategic-mi)).
- **Wrench Group** — formed by Investcorp in 2016, sold to [Leonard Green & Partners in 2019](https://leonardgreen.com/investcorp-announces-sale-of-the-wrench-group-to-leonard-green/); covers HVAC and plumbing across major Sun Belt and Southwest metros.
- **Sila Services** — Goldman Sachs-backed home-services platform; acquired [John Nugent & Sons](https://www.pehub.com/goldman-sachs-backed-sila-services-scoops-up-hvac-services-firm-john-nugent-sons/) and 35+ other brands across the Northeast, Mid-Atlantic, and Midwest, with multiple plumbing add-ons in Pennsylvania alone ([PrivSource](https://www.privsource.com/acquisitions/hvac-mechanical/state/pennsylvania)).
- **Authority Brands, Service Logic, Hoffman Family of Companies** — multi-brand franchise / direct-acquisition platforms that include plumbing alongside other home services ([BusinessExits](https://businessexits.com/sell-your-plumbing-business/)).

For the full set of PE-backed plumbing acquirers, [PrivSource's PE-Backed Plumbing tracker](https://www.privsource.com/acquisitions/private-equity-backed-acquisitions/plumbing) and [PitchBook](https://pitchbook.com/news/reports/q4-2025-construction-engineering-report) (subscriber-only) are the canonical sources.

## Industry context: market size, technicians, fragmentation

A few structural data points round out the picture:

- **U.S. Plumbers (services) market**: estimated **$191.4 billion in 2026** with a 3.1% five-year CAGR ([IBISWorld](https://ibisworld.com/united-states/market-research-reports/plumbers-industry/)).
- **U.S. plumbers, pipefitters, steamfitters employment outlook (2022–2032)**: roughly **5% growth**, with **~44,000 annual openings** primarily from retirements and exits ([BLS](https://www.bls.gov/ooh/construction-and-extraction/print/plumbers-pipefitters-and-steamfitters.htm)).
- **Industry structure**: heavily owner-operated and unbranded at the local level — exactly the structural condition that PE platforms are exploiting through sales, marketing, and FSM-software standardization.

## Methodology and limitations

A note on how to read these numbers:

- **PitchBook** is the canonical source for PE-backed deal counts. The ~800 MEP figure (cited by the *Wall Street Journal*) is the broadest aggregate; PrivSource's plumbing-specific counts are narrower but more precisely sourced.
- **Apex Service Partners' ~60 add-ons in 2025** is a self-disclosed figure carried in PitchBook's reporting. It is the cleanest single-platform comp available, though it spans HVAC, plumbing, and electrical rather than pure-plumbing flow.
- **Multiples** vary widely because public ranges combine main-street businesses (sub-$1M EBITDA) with platform-quality companies. Always cite the underlying sample and tier.
- **BizBuySell** data is heavily weighted to sub-$5M-revenue businesses. The 46% 2022–2025 median-sale-price gain is real and well-sourced but reflects the small-business end of the market, not the institutional PE flow.
- **Market-size estimates** from IBISWorld measure plumber revenue inclusive of new construction (which makes up the majority of industry revenue) and service. Service-only TAM is materially smaller and harder to measure precisely.

## How owners should interpret 2025–2026

Three takeaways for plumbing founders considering an exit:

1. **The buyer universe is the deepest in home services.** Dedicated plumbing platforms (P3, Trades Holding) plus broader MEP roll-ups (Apex, Wrench, Sila, Service Logic, Hoffman, Authority Brands) plus the long tail of regional consolidators means a competitive auction can realistically reach 100+ qualified institutional buyers. [Run a process](/industries/plumbing-business-broker), don't take the first call.
2. **Multiples are bimodal.** A drain-heavy, service-led business with strong recurring-MSA penetration and clean technician economics can clear 7x–10x EBITDA. The same revenue without recurring contracts and with new-construction-heavy mix may transact at 3x–4x. Positioning is the largest pre-sale lever.
3. **The window is open and visible in the data.** A 46% median-sale-price gain from 2022 to 2025 is the cleanest signal in any home-services trade that buyers are paying up. Owners with $1M+ EBITDA who run a clean process in 2026 are entering one of the strongest seller markets ever recorded for plumbing.

## Use this data

We update this page quarterly. If you cite a specific statistic, please link directly to the section heading and credit Main Street Wealth alongside the primary source.

If you own a plumbing business and want to translate this market data into a confidential exit conversation, see our [plumbing M&A overview](/industries/plumbing) or learn how a [specialized plumbing business broker](/industries/plumbing-business-broker) runs a sell-side process for $1M+ EBITDA founders.

## Primary sources

- [PitchBook — Q4 2025 Construction & Engineering Report](https://pitchbook.com/news/reports/q4-2025-construction-engineering-report)
- [PitchBook — Alpine Targets $1B Fund (Apex add-on count)](https://pitchbook.com/news/articles/alpine-targets-1b-fund-to-invest-in-its-own-businesses)
- [Contractor Magazine — Solid Business Sense: PE and the MEP Trades](https://www.contractormag.com/management/article/55277446/solid-business-sense-private-equity-and-the-mep-trades)
- [Reuters — Apex Service Partners $10B Valuation](https://www.reuters.com/legal/transactional/apex-service-partners-nears-minority-stake-sale-10-billion-valuation-source-says-2026-05-27/)
- [Apollo — Strategic Minority Investment in Apex (Press Release)](https://www.apollo.com/institutional/insights-news/pressreleases/2026/05/apex-service-partners-and-alpine-investors-announce-strategic-mi)
- [PrivSource — Plumbing Acquisitions](https://www.privsource.com/acquisitions/plumbing/2018)
- [PrivSource — PE-Backed Plumbing Acquirers](https://www.privsource.com/acquisitions/private-equity-backed-acquisitions/plumbing)
- [PrivSource — Plumbing Acquisitions in 2025](https://www.privsource.com/acquisitions/plumbing/2025)
- [PrivSource — P3 Services Acquires Six Local Plumbing and Septic Businesses](https://www.privsource.com/acquisitions/deal/p3-services-acquires-six-local-plumbing-and-septic-businesses-across-the-u-s-gaSjZ6)
- [PE Hub — Stellex Acquisition of P3](https://www.pehub.com/stellex-acquisition-of-p3-plumbing-services-platform-from-crescendo-benefits-from-pandemic-era-focus-on-the-home/)
- [PE Hub — Sila Services Acquires John Nugent & Sons](https://www.pehub.com/goldman-sachs-backed-sila-services-scoops-up-hvac-services-firm-john-nugent-sons/)
- [Leonard Green & Partners — Wrench Group Acquisition](https://leonardgreen.com/investcorp-announces-sale-of-the-wrench-group-to-leonard-green/)
- [BusinessWire — P3 Services Acquires Anchor Plumbing](https://www.businesswire.com/news/home/20230705650772/en/P3-Services-Finds-New-Anchor-in-the-San-Antonio-Market-With-Latest-Acquisition)
- [BusinessExits — Sell Your Plumbing Business](https://businessexits.com/sell-your-plumbing-business/)
- [BizBuySell — Plumbing Valuation Benchmarks](https://www.bizbuysell.com/learning-center/valuation-benchmarks/plumbing/)
- [BizBuySell — Q3 2025 Insight Report](https://www.bizbuysell.com/news/bizbuysell-2025-third-quarter-insight-report/)
- [BizBuySell — Electrical & Mechanical Contractor Benchmarks](https://www.bizbuysell.com/learning-center/valuation-benchmarks/electrical-mechanical-contractor/)
- [BizBuySell — Building & Construction Benchmarks](https://www.bizbuysell.com/learning-center/valuation-benchmarks/building-construction/)
- [BizBuySell via FinancialContent — Texas Plumbing Sales Growth (46% 2022–2025)](https://markets.financialcontent.com/stocks/article/marketersmedia-2026-5-29-texas-plumbing-business-sales-growth-framework-and-exit-readiness-guide-released)
- [Regalis Capital — What Is My Plumbing Company Worth?](https://learn.regaliscapital.com/what-is-my-plumbing-company-worth/)
- [ClearlyAcquired — EBITDA Multiples for HVAC, Plumbing, and Electrical](https://www.clearlyacquired.com/blog/ebitda-multiples-for-hvac-plumbing-and-electrical-contractor)
- [Viking Mergers — Plumbing & Electrical Valuation](https://www.vikingmergers.com/valuation-multiples-by-industry/selling-a-plumbing-and-electrical-business/)
- [PushLeads — Plumbing Business Valuation](https://pushleads.com/how-to-sell-your-home-service-business/plumbing-business-valuation/)
- [IBISWorld — Plumbers in the US](https://ibisworld.com/united-states/market-research-reports/plumbers-industry/)
- [BLS — Plumbers, Pipefitters & Steamfitters Occupational Outlook](https://www.bls.gov/ooh/construction-and-extraction/print/plumbers-pipefitters-and-steamfitters.htm)
- [GF Data via Forvis Mazars — Q2 2025 Middle-Market M&A Insights](https://www.forvismazars.us/forsights/2025/09/q2-2025-middle-market-m-a-insights-signs-of-potential-recovery)