Morgan Stanley Capital Partners Agrees to Sell Sila Services
Morgan Stanley Capital Partners (MSCP) has agreed to sell Sila Services, a leading residential HVAC, plumbing and electrical services provider, to Goldman Sachs Alternatives. Sila's management will retain a significant minority stake and continue leading the company. Since MSCP's investment in 2021, Sila has expanded through organic growth and strategic M&A, establishing itself as a residential services leader across the Northeast, Midwest and Mid-Atlantic regions. The company, headquartered in King of Prussia, Pennsylvania, focuses on customer service excellence and prioritizing people. Financial terms were not disclosed.
Morgan Stanley Capital Partners (MSCP) ha accettato di vendere Sila Services, un fornitore leader di servizi residenziali HVAC, idraulici ed elettrici, a Goldman Sachs Alternatives. Il management di Sila manterrà una significativa partecipazione di minoranza e continuerà a guidare l'azienda. Dall'investimento di MSCP nel 2021, Sila ha ampliato la propria attività attraverso la crescita organica e fusioni e acquisizioni strategiche, affermandosi come leader nei servizi residenziali nelle regioni del Northeast, Midwest e Mid-Atlantic. L'azienda, con sede a King of Prussia, Pennsylvania, si concentra sull'eccellenza nel servizio al cliente e sulla valorizzazione delle persone. I termini finanziari non sono stati divulgati.
Morgan Stanley Capital Partners (MSCP) ha acordado vender Sila Services, un proveedor líder de servicios residenciales de HVAC, fontanería y eléctricos, a Goldman Sachs Alternatives. La dirección de Sila retendrá una participación significativa de minoría y continuará liderando la empresa. Desde la inversión de MSCP en 2021, Sila ha crecido a través del crecimiento orgánico y fusiones y adquisiciones estratégicas, estableciéndose como un líder en servicios residenciales en las regiones del noreste, medio oeste y medio atlántico. La empresa, con sede en King of Prussia, Pennsylvania, se centra en la excelencia en el servicio al cliente y prioriza a las personas. No se divulgaron los términos financieros.
모건 스탠리 캐피탈 파트너스 (MSCP)가 Sila Services, 주거용 HVAC, 배관 및 전기 서비스 제공업체의 선도 기업을 골드만 삭스 얼티너티브스에 매각하기로 합의했습니다. Sila의 경영진은 상당한 소수 지분을 보유하며 회사를 계속 이끌어 갈 것입니다. MSCP의 2021년 투자 이후 Sila는 유기적인 성장과 전략적 인수합병을 통해 사업을 확장하였으며, 북동부, 중서부 및 중대서양 지역의 주거 서비스의 리더로 자리 잡았습니다. 펜실베니아주 킹 오브 프러시아에 본사를 두고 있는 이 회사는 고객 서비스의 우수성에 집중하고 사람들을 우선시합니다. 재무 조건은 공개되지 않았습니다.
Morgan Stanley Capital Partners (MSCP) a accepté de vendre Sila Services, un fournisseur de services résidentiels HVAC, plomberie et électricité, à Goldman Sachs Alternatives. La direction de Sila conservera une participation minoritaire significative et continuera à diriger l'entreprise. Depuis l'investissement de MSCP en 2021, Sila s'est développé grâce à une croissance organique et à des fusions et acquisitions stratégiques, s'établissant en tant que leader des services résidentiels dans le Nord-Est, le Midwest et la région du Mid-Atlantic. L'entreprise, dont le siège est situé à King of Prussia, Pennsylvanie, se concentre sur l'excellence du service client et priorise les personnes. Les conditions financières n'ont pas été divulguées.
Morgan Stanley Capital Partners (MSCP) hat zugestimmt, Sila Services, einen führenden Anbieter von Wohn-HVAC-, Sanitär- und Elektrodienstleistungen, an Goldman Sachs Alternatives zu verkaufen. Das Management von Sila behält eine bedeutende Minderheitsbeteiligung und wird das Unternehmen weiterhin leiten. Seit der Investition von MSCP im Jahr 2021 hat Sila sein Geschäft durch organisches Wachstum und strategische Fusionen und Übernahmen erweitert und sich als führendes Unternehmen für Wohnservices in den Regionen Nordosten, Mittlerer Westen und Mittelatlantik etabliert. Das Unternehmen mit Hauptsitz in King of Prussia, Pennsylvania, konzentriert sich auf exzellenten Kundenservice und legt Priorität auf die Menschen. Finanzielle Bedingungen wurden nicht bekannt gegeben.
- Successful exit from MSCP's first investment in distributed field services sector
- Company achieved strong organic growth and strategic M&A expansion since 2021
- Management team retention ensures business continuity
- Established market leadership position in multiple U.S. regions
- None.
Insights
The sale of Sila Services by Morgan Stanley Capital Partners (MSCP) to Goldman Sachs represents a significant private equity transaction in the residential services sector. While financial terms weren't disclosed, this exit marks MSCP's successful investment cycle since 2021, during which Sila expanded through organic growth and M&A. The deal highlights strong institutional interest in the residential services sector, particularly in HVAC, plumbing and electrical services.
The transaction demonstrates MSCP's successful execution of its investment thesis in distributed field services, having used Sila as a platform to expand into related businesses. For Morgan Stanley (
Goldman Sachs's acquisition signals continued private equity appetite for essential services businesses with recurring revenue streams and consolidation opportunities. The retention of management and their significant minority stake suggests confidence in the company's growth trajectory and operational strategy.
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“We are proud to have partnered with Jason Rabbino and the Sila team as they built an industry-leading residential services platform,” said Adam Shaw, Managing Director and Head of Business Services at MSCP. “Sila has cemented itself as a differentiated, high-growth business in the sector, and we have appreciated the opportunity to partner with the entire Sila team during this period of transformational growth. We are extremely grateful for their hard work and dedication over the past few years.”
“I am very proud of what Sila’s team has accomplished in partnership with MSCP during this chapter of the Company’s growth to build Sila into a truly distinctive residential services operating company emphasizing careers for tradespeople and customer excellence,” said Jason Rabbino, Chief Executive Officer of Sila. “MSCP has been a highly value-added partner to the entire Sila team, steadfastly supporting our organic growth ambitions, operational initiatives and differentiated M&A approach with owners. We thank MSCP for their tremendous contributions in building Sila into the business it is today.”
Sila was MSCP’s first investment in and now its first exit from the distributed field services sector, which has become a core sub-sector within MSCP’s Business Services vertical. Since investing in Sila in 2021, MSCP has partnered with a number of other businesses across the distributed field services sub-sector, including outdoor home care and maintenance provider Fairway Services, residential roofing company Allstar Services, outsourced HOA management services provider RowCal, and residential and commercial mitigation and restoration company American Restoration.
Closing is subject to customary closing conditions, including the receipt of all required regulatory approvals.
William Blair acted as lead financial advisor to Sila, with co-advisory support from Robert W. Baird & Co. Debevoise & Plimpton LLP served as legal advisor to MSCP. Goldman Sachs & Co LLC served as exclusive financial advisor and Weil, Gotshal & Manges LLP served as legal counsel to Goldman Sachs.
About Morgan Stanley Capital Partners
Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a leading middle-market private equity platform established in 1986 that primarily invests alongside founders and seeks to partner with management teams to build best-in-class companies within business, consumer, industrial and healthcare services. Morgan Stanley Capital Partners seeks to create value in portfolio companies through a transformational organic and acquisition-related growth strategy by leveraging its deep internal operational capabilities and value creation playbook. For further information about Morgan Stanley Capital Partners, please visit www.morganstanley.com/im/capitalpartners.
Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,400 investment professionals around the world and
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.
About Sila Services
Sila Services is a leading home services platform, operating over 30 brands throughout the Northeast, Mid-Atlantic, and Midwest. The companies of Sila Services, with a history of people-focused trade industry leadership dating back to the early 1900s, offer a complete range of residential and commercial services in HVAC, plumbing, electrical, water treatment, indoor air quality, and home performance solutions. The company’s mission is to attract, develop and advance the careers of the best people in the home services trades, ensuring an unmatched level of service and customer satisfaction in residential services and solutions. For more information, visit www.silaservices.com.
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Press
Morgan Stanley: Alyson Barnes
alyson.barnes@morganstanley.com
Source: Morgan Stanley Capital Partners
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