Permira has agreed to acquire a majority stake in US residential services provider Flint Group from General Atlantic in a transaction valued at more than $1.5bn, according to a report by Reuters citing people familiar with the deal.

Kansas City-based Flint Group provides heating, ventilation, air conditioning, plumbing and electrical services across the US. Founded in 2019 by Trevor Flannigan and Collin Hathaway, the business has expanded significantly since General Atlantic invested in 2023, growing from seven regional brands across five states to 20 brands operating across 15 states.

The acquisition reflects growing private equity interest in the fragmented US home services sector, where recurring demand, predictable cash flows and opportunities for consolidation have attracted institutional capital. Blackstone acquired Champions Group earlier this year, while Apollo invested in Apex Service Partners at a valuation of approximately $10bn including debt.

Permira reportedly plans to use its experience in scaling consumer businesses and digital capabilities to support Flint's expansion. William Blair and Jefferies advised Flint, while Goldman Sachs advised Permira. The transaction is expected to close before the end of 2026.