Team First Home Services, a residential plumbing platform backed by Grove Mountain Partners, announced on September 14, 2026 that it has partnered with Holloway Plumbing, a residential plumbing provider serving Kerrville and the surrounding Texas Hill Country. Holloway keeps its local brand. Terms were not disclosed.
CEO Mike Bornhorst framed Holloway as a people-first operator with a strong Hill Country reputation. Stephen Fraser, Chairman of Team First and Partner at Grove Mountain, cast the deal as the kind of employee-and-customer-first local business the firm wants as Team First scales into a national residential plumbing platform. The partnership follows Team First’s earlier investment in Halls Rooter & Plumbing in Midland and further densifies the platform’s Texas footprint.
The asset.
Holloway Plumbing is positioned as a premier residential plumbing provider in the Texas Hill Country, with a reputation for workmanship, integrity, and responsive service to homeowners. The release does not disclose founding year, revenue, EBITDA, or headcount. What it establishes is the classic add-on profile: an owner-led local brand with technician depth in a defined metro, folded into a PE-backed platform that leaves the name on the trucks.
The platform.
Team First launched in 2025 as a residential services platform focused on plumbing, sewer, water, and related home services. Backed by Grove Mountain Partners, it partners with owner-led plumbing companies, preserves local brands and cultures, and sells growth capital plus operating support. Grove Mountain invests in middle-market home services and specialty business services with annual revenues of $15–$200 million at the firm filter — platform/firm scope, not Holloway’s disclosed figures (none were). Team First says it continues to seek residential plumbing partners nationally.
Pure-play plumbing densify in Texas.
While garage doors and multi-trade HVAC have dominated recent Insights coverage, Team First is a reminder that dedicated residential plumbing platforms are still building state-by-state. Midland, then Kerrville / Hill Country — two named Texas partners on a young platform — is a densify signal for plumbing owners in secondary and tertiary Texas markets, not only the mega-metros. The structure is partnership / brand retention rather than a wipeout buyout headline.
What it means.
For residential plumbing owners, two practical points.
First, a 2025-vintage PE-backed plumbing platform is already on its second Texas partner and still shopping nationally. Early platforms need density; that usually means more inbound for well-run local shops before the map fills in.
Second, Hill Country and Midland are on the board. Owners in similar Texas markets — and in other states Team First has not named yet — should treat pure-play plumbing platforms as a real buyer class alongside multi-trade HVAC consolidators.
No purchase price, revenue, or EBITDA was disclosed. The story is the second Texas densify and the plumbing-only thesis, not a multiple.
Own a residential plumbing business?
Schryver & Co. advises trades owners across roughly $5 million–$100 million of revenue, and works with plenty of owners who simply want an honest read on what they have built. If you would like to understand what your business is worth and which acquirers would actually compete for it — PE platforms, partnership alliances, and strategics alike — we are glad to talk. No pitch, no pressure.
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