Venable LLP represented NexGen Air Conditioning and Heating LLC and NexGen Plumbing and Drain LLC (collectively, “NexGen”), one of the top home services providers in Southern California, in its acquisition by the Wrench Group, a national leader in home services. The transaction involved a transfer of 100% of NexGen’s equity, using a sophisticated, tax-efficient structure conceived by Venable,
Founded six years ago, NexGen has eight locations across Los Angeles County, Orange County, and Riverside County providing more than 100,000 homeowners with heating, air conditioning, plumbing, drain cleaning, and air quality services. This is Wrench Group’s first acquisition and expansion into Southern California, the nation’s second-largest home services market. Its family of brands now operates in 21 markets nationwide, including a presence in six of the ten largest markets in the United States.
The Venable team leading the NexGen-Wrench Group transaction included Matthew Portnoff, Max Wellman, Chris Davidson, and Tom France.