The Private Equity Podcast, by Raw Selection

Scaling a Home Services Business

Mar 24, 2026

David Williams, CEO of Advantage Services Group, is an owner-operator who scaled HVAC, plumbing and electrical businesses to $100M+ via acquisitions and organic growth. He recounts moving to Oregon for his first buy, completing 10 acquisitions, and expanding across states. He focuses on building one integrated company with infrastructure, systems, strong GMs and a deliberate culture centered on urgency and trust.

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INSIGHT

Home Services Is A Durable Fragmented Market

Home services (HVAC, plumbing, electrical) is a durable, non-discretionary market with >$100bn spend and ~100k businesses, making it attractive for long-term building.
David picked the sector because demand is constant (people still need heat, cold, hot water) despite technological change.

ADVICE

Stop Preparing And Start Learning As CEO

Nothing fully prepares you for being a CEO except actually doing it, so start and learn on the job rather than waiting for perfect preparation.
Use early consulting/private equity experience as a foundation, then supplement with reading and podcasts for practical lessons.

INSIGHT

Four Pillars To Turn Small Shops Into A Scalable Platform

Scaling from a single-location small business requires four pillars: infrastructure, systems, team, and culture.
Early chaos (three accounting systems after initial deals) forced prioritising centralized accounting, HR, IT and marketing to close books faster.

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Guest: David Williams, CEO, Advantage Services Group (ASG)
Host: Alex Rawlings

David Williams joins Alex to share how he transitioned from consulting into entrepreneurship through acquisition — and scaled a home services platform to $100m+ in revenue in just five years.

Since acquiring his first HVAC business in Oregon during COVID, David has completed 10 acquisitions, expanded into three states, and grown organically at ~20% annually. His focus? Building one fully integrated company — not a loose roll-up of brands.

🕒 Timestamps

00:00 – Introduction & David’s background
01:57 – Choosing entrepreneurship through acquisition
02:51 – Why HVAC, plumbing & electrical?
03:48 – Moving to Oregon & first acquisition
04:16 – Growth to $100m+ revenue
07:57 – From small business to scalable platform
08:54 – Pillar 1: Infrastructure
09:50 – Pillar 2: Systems & integration
11:19 – Pillar 3: Building strong GMs
12:16 – Pillar 4: Culture as a CEO responsibility
15:08 – Core belief: Operating with urgency
17:56 – Why integration is about people, not spreadsheets
21:42 – Earning trust post-acquisition
24:05 – Book & podcast recommendations

Key Takeaways

Durable industry thesis: Large, fragmented, non-discretionary market.
Integration focus: ASG builds one company with shared systems and culture.
Leadership bench: Strong GMs drive performance.
Culture is deliberate: Clear beliefs — not designed for everyone.
Urgency wins: Speed in customer service and decision-making is core.
M&A is emotional: Time on the ground builds trust and long-term alignment.

Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.

🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/

🌐 Visit Raw Selection www.raw-selection.com

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