MARIETTA, Ga. — In a strategic move designed to accelerate growth, Coolray CEO Ken Haines announced the Atlanta-based home services company had formed a partnership with The Wrench Group — a culmination of four home services companies in the U.S. — with the support of Investcorp, a provider and manager of alternative investment products.
The Wrench Group — formed by Coolray in Atlanta; Berkeys Air Conditioning, Plumbing, and Electrical in Dallas; Abacus Plumbing, Air Conditioning, and Electrical in Houston; and Parker and Sons Inc. in Phoenix — will provide essential home maintenance and repair services, including HVAC, plumbing, and electrical services. Each of the companies holds a significant market share in these metropolitan areas, all of which are rapidly expanding home services markets. Combined, the four companies represented more than $150 million in 2015 revenues.