Two Parks Capital-backed Fix-It Group enters Florida with Sergeant's Electric acquisition

On May 5, 2026, Fix-It Group announced a partnership with Sergeant's Electric, a residential electrical services company headquartered in the North Port–Bradenton–Sarasota corridor of Southwest Florida. The transaction marks Fix-It Group's first operating presence in Florida and continues a steady cadence of partnerships under Two Parks Capital, the private equity firm that acquired Fix-It Group from New Harbor Capital in February 2025.

Sergeant's Electric was founded in 2017 by Travis and Crystal Howett. The Howetts will remain in their roles, and the company will continue to operate under its existing brand and local leadership — consistent with how Fix-It Group has structured its prior partnerships. As part of the transaction, Sergeant's will gain access to Fix-It Group's shared marketing, recruiting, infrastructure, and operational support functions.

According to Fix-It Group's announcement, the Howetts evaluated potential partners for more than a year before selecting Fix-It, with the alignment between Sergeant's existing culture and Fix-It's people-first operating model cited as a deciding factor. Fix-It Group CEO George Donaldson, who began his career as a master electrician, has built the platform around partnering with established residential trades businesses rather than consolidating brands under a single name.

The platform: founded in 2017, backed by two PE sponsors

Fix-It Group traces its origins to 2017, when George Donaldson — a former electrician with prior leadership roles at multiple home services businesses, including Clockwork Home Services and One Hour Heating & Air Conditioning — purchased a Denver-area HVAC and plumbing company doing approximately $1 million in annual revenue. Over the following three years, Donaldson and his team scaled Fix-It 24/7 to roughly $20 million in revenue without acquisitions.

In June 2020, New Harbor Capital made a majority equity investment in Fix-It 24/7, formalizing the business as Fix-It Group — a platform built to acquire and grow residential HVAC, plumbing, and electrical service providers across attractive metropolitan markets. Over a four-and-a-half-year hold period, Fix-It Group expanded into three new metropolitan markets and completed six strategic add-on acquisitions, ultimately reaching reported revenue of more than $100 million.

In February 2025, Two Parks Capital acquired Fix-It Group from New Harbor Capital. Under Two Parks's ownership, Fix-It has continued an active M&A program, with the Sergeant's Electric partnership now adding Florida to the platform's footprint.

A chronological look at the platform's M&A activity

The list below captures the major acquisitions and platform-level transactions that have shaped Fix-It Group's footprint from inception to today.

2017 — Fix-It 24/7 (Denver, CO). George Donaldson purchases a Denver-area HVAC and plumbing business doing roughly $1 million in annual revenue. Over the next three years, the company is scaled organically to approximately $20 million.

June 2020 — New Harbor Capital platform investment. New Harbor Capital makes a majority equity investment in Fix-It 24/7, formally creating Fix-It Group as a platform for residential trades consolidation.

2020 — Builder's Heating and Air Conditioning (Denver, CO). Fix-It 24/7 acquires Builder's Heating and Air Conditioning, an established HVAC services provider in the Denver metro, adding density and capacity in the platform's home market.

2021 — On Time Experts (Dallas, TX). Fix-It Group expands into the Dallas–Fort Worth market with the acquisition of On Time Experts, a residential HVAC and plumbing provider originally founded by Randy Kelley in 1965. Kelley transitions the business and his team to Fix-It at closing.

2022 — Air Max (Charleston, SC), rebranded as Fix-It 24/7 Charleston. Fix-It Group enters the Charleston, South Carolina market through the acquisition of Air Max. Former owner Medd Box remains involved post-close, and his son Rudy continues with the company.

2022–2023 — Emergency Air (Phoenix, AZ). Fix-It Group establishes its Phoenix presence through the acquisition of Emergency Air, expanding the platform into the Southwest.

May 17, 2024 — Colorado Discount Heating and Air (Denver, CO). Fix-It 24/7 Denver acquires Colorado Discount Heating and Air as a tuck-in to the platform's home market, adding capacity in the Denver service area.

October 23, 2024 — 888 Heating (Denver, CO). Fix-It Group adds 888 Heating, a Denver-area residential HVAC company founded in 2015.

February 5, 2025 — Two Parks Capital platform acquisition. Two Parks Capital acquires Fix-It Group from New Harbor Capital, beginning the platform's second institutional ownership period.

March 2025 — DRING Heating and Air (North Texas). On Time Experts acquires DRING Heating and Air, deepening the Dallas–Fort Worth footprint.

April 1, 2025 — Cool Willy's Air & Plumbing (Tucson, AZ). Fix-It Group adds Cool Willy's Air & Plumbing, an established local HVAC and plumbing operator in Tucson with a 4.9-star Google rating.

April 7, 2026 — Ballard Natural Gas Service (Seattle, WA). Fix-It Group enters the Pacific Northwest with the acquisition of Ballard Natural Gas Service, a residential HVAC provider in the Seattle market. Owner Neil Kappen remains involved post-close.

April 17, 2026 — Magnolia Heating & Cooling (Riverside, CA). Fix-It Group enters Southern California with the acquisition of Magnolia Heating & Cooling, a Riverside-based HVAC business founded in 1951 — bringing more than 70 years of operating history into the platform.

May 5, 2026 — Sergeant's Electric (Southwest Florida). Fix-It Group announces the Sergeant's Electric partnership, marking the platform's entry into Florida and its fourth completed partnership of 2026.

What the M&A profile says about the model

A few patterns are visible across the platform's transaction history. Fix-It Group has prioritized established, locally trusted brands — most with 5+ years of operating history, and several with multi-decade legacies (Magnolia at 75 years, On Time Experts at 60 years at acquisition, Sergeant's at roughly 9 years). It has retained local brands and leadership at each acquired company rather than consolidating under a single name. And it has expanded primarily through geographic diversification rather than density alone: most major moves have been platform entries into new metropolitan markets (Dallas, Charleston, Phoenix, Tucson, Seattle, Riverside, and now Florida), with a smaller number of tuck-ins inside existing markets.

Publicly, the platform has stated that it looks for brands headquartered in major markets, focused on residential HVAC, plumbing, or electrical services, with annual revenue between $5 million and $20 million, and a leading local market position with at least 10,000 existing customers. The company has reported revenue growth from $1.7 million in 2017 to more than $100 million in recent years, with a stated long-term target of $1 billion in revenue by 2030.

What this means for the market

Across the residential service trades, the pattern visible at Fix-It Group is increasingly common: a founder-operator builds a single-market business to a meaningful scale, partners with private equity to formalize a platform, completes several add-ons under the first sponsor, and then transitions to a larger sponsor as the platform's scale and execution justify a higher equity check. Fix-It Group's transition from New Harbor Capital to Two Parks Capital in February 2025 is a textbook example of that hand-off.

For owners of independent residential trades businesses, Fix-It Group represents one of a growing number of PE-backed acquirers operating in the HVAC, plumbing, and electrical service categories. The platform's continued partnership activity is consistent with the broader buildout across the residential service trades, where institutional capital has been active for several years and shows no clear signs of slowing.