If it feels like service businesses are changing hands quickly right now, that's because they are. Across the country, plumbing companies, HVAC firms, home care agencies, cleaning services, and landscaping outfits are attracting more buyers—and closing faster—than almost any other category of small business. The trend is national, but it's playing out right here in Wilmington, NC in ways that create real opportunity for both buyers and sellers.
At Momentum Companies, we've watched this shift accelerate firsthand. Below, we break down what's driving the surge in demand for service businesses, why buyers are paying a premium for them, and what it means if you're thinking about buying or selling in the Coastal Carolina region.
The Numbers Behind the Surge
The appetite for service businesses isn't just anecdotal—it's showing up in transaction data. Private capital has poured into the space, tightening competition and pushing valuations up.
In the HVAC sector alone, private equity investments in acquisitions jumped from 8% in 2023 to 23% in 2024. Transaction multiples have remained elevated—north of 10x EBITDA—particularly for high-margin businesses with a large service component.
How This Plays Out in Wilmington
National trends set the stage, but local conditions determine the outcome—and Wilmington's are especially favorable for service businesses.
Our region's steady population growth, active real estate market, and year-round tourism keep demand high for the exact kinds of service businesses buyers want. Skilled trades benefit from ongoing residential and commercial development. Senior care and home health services are expanding as retirees continue relocating to the coast. Construction, home renovation, pet care, and wellness businesses all enjoy loyal, recurring customer bases.
We covered this in depth in our look at which types of businesses are in high demand right now in Wilmington, and service businesses appear at the top of nearly every category. The combination of a national buyer wave and strong local fundamentals means Wilmington service businesses are, in many cases, selling faster than owners expect.
What This Means If You're Thinking About Selling
If you own a service business, this is a strong moment to understand what your company is worth. Buyer demand is high, financing remains available, and recurring-revenue businesses are commanding premium multiples.
But timing alone doesn't guarantee a great outcome—preparation does. The most successful sellers are the ones who position their business well in advance: clean financials, documented customer relationships, reduced owner dependency, and clearly demonstrated recurring revenue. A professional business valuation is the best first step, even if you're a year or two away from selling. It tells you exactly what drives your value and where you can strengthen it before going to market.
Partner With Momentum Companies
Whether you're preparing to sell a service business you've spent years building or looking to buy into one of Wilmington's most in-demand sectors, Momentum Companies is your trusted local partner. Our team brings deep regional experience and a confidential, hands-on process to every transaction.
Contact us today for a free, confidential consultation—and let's talk about your next move.
