ROLLUP PLATFORM
RollUp Platform · Overview

Home Services Growth & Institutionalization Platform

A virtual roll-up across HVAC, plumbing and electrical. Partner with strong local contractors, install centralized infrastructure, grow EBITDA, and share the value created above a frozen baseline. Invest or acquire later — selectively.

Three-year north star
20 Companies$150M Revenue$30M EBITDA$300M Base EV/$360M Target EV

Build Value Before Buying It.

Mature 20-company run-rate. Multiples are scenario assumptions, not guaranteed valuations.

Portfolio position

Partner companies
20
At full ramp and mature economics
Network revenue
$150M
Annualized run-rate — each quarter is shown as the annual figure the portfolio is running at in that quarter, not the cash collected during the quarter.
Portfolio EBITDA
$30M
Frozen baseline $8M + uplift $22M
EBITDA margin
20.0%
Entry margin 8.0% at joining
JV annual uplift share
$11M
50% of $22M incremental EBITDA
Platform services revenue
$12M
8.0% of network revenue — cost recovery, not the profit center
Enterprise value — downside 8x
$240M
Enterprise value — base 10x
$300M
Enterprise value — target 12x
$360M

Multiples are scenario assumptions applied to portfolio EBITDA. They are not quoted or guaranteed market valuations. $100M EV is crossed at Q7 in the base case — an early milestone, not the three-year ambition.

Network build-out

Annualized run-rate, Q1–Q12

EBITDA waterfall

Mature
Portfolio EBITDA$30M
Less frozen baseline (contractor)− $8M
Incremental EBITDA created$22M
Contractor share of uplift (50%)$11M
JV share of uplift (50%)$11M
Contractor keeps the floorTotal contractor economics of $19M = frozen baseline $8M plus 50% of the uplift. The baseline is never recalculated as a percentage of future revenue.

One contractor, before and after

$5M / $400K at entry to $7.5M / $1.5M at maturity.

36-month cohort roadmap

Prove, Scale, Institutionalize — quarterly partner additions to full ramp.

Virtual roll-up first

Owner keeps legacy value. JV provides infrastructure. Uplift splits. Acquisition optional and later.