John Stevenson Plumbing, Heating & Air Anchors New American Service Partners Platform

What happened

American Service Partners announced its launch on October 7, 2026, as a national residential home services platform, formed through the acquisition of brands from Platform Partner Holdings (PPH) and Air Today Holdings (ATH). Exuma Capital Partners sponsored the institutional capital raise that led the launch, which the release says also delivers a successful outcome for investors in ATH.

John Stevenson Plumbing, Heating & Air, based in Carlsbad, California, is one of three brands the release names as the platform's anchors, alongside A-One Refrigeration, which has served Washington's Tri-Cities since 1980, and Howze Plumbing, a Dallas–Fort Worth name since 1995. The release does not say which brands came from PPH and which from ATH, or what role the Stevenson family holds now, and it gives no price or other financial terms.

The company

John Stevenson founded the company in 1990. He had started in the trade in 1976 with firms building custom homes in Rancho Santa Fe, Fairbanks Ranch, and the Hollywood Hills, and helped start and manage Golden Eagle Plumbing before going out on his own. He first ran the business from his home in Cardiff-by-the-Sea, then moved it to Solana Beach and later Carlsbad. His wife, Connie Stevenson, joined in 2000 after a career in insurance and serves as company secretary. The legal entity is John Stevenson Plumbing & Mechanical Inc.

The release calls it a San Diego family business. It offers same-day plumbing, drain, heating, cooling, and water heater service across San Diego County and Orange County from offices in Carlsbad and San Diego, along with commercial HVAC and plumbing work. John Stevenson was president of the Plumbing, Heating and Air Conditioning Contractors Association of San Diego for the 2004–2005 term and became president of the state association in May 2018. The company gives $1 of every invoice to the Rancho Coastal Humane Society.

The investor

American Service Partners is based in Fort Lauderdale, Florida, and brings together residential HVAC, plumbing, and electrical brands in more than 15 states, from Seattle to Miami and San Diego to Boston. The businesses joining it have served their communities for a combined 225-plus years.

Its chief executive, Landon Brewer, has led PPH since 2022. He previously held roles with American Residential Services, Legacy Service Partners, and Clockwork Home Services, and scaled Goettl Air Conditioning & Plumbing ahead of its acquisition by Cortec Group. PPH describes itself as a management consulting company that helps locally owned residential service businesses "go from local operator to institutional asset," supplying executive leadership, shared services, and real-time performance management. Its broader network continues to operate alongside the new platform.

Brewer set the platform against the usual private equity model. "Traditional buy-and-flip and buy-and-build private equity has faced headwinds in home services, and that has opened a real opportunity," he said. "This isn't an ordinary roll-up."

Exuma Capital Partners is a South Florida private equity firm that calls itself operator-first and targets technology, real estate, food and beverage, and home services. "Landon and his operators lead this platform," said Anthony Perera, Exuma's founder and managing partner, "and access to institutional capital lets them build what local brands can't build alone."

What this means for plumbing and HVAC owners

This platform was not assembled one founder at a time. It was built by buying brands already gathered under two holding companies, one of them a consulting firm whose stated job is turning local operators into institutional assets. Brands inside a leadership and shared-services network of that kind were, in this deal, one transaction away from a sale into a new platform with its own institutional capital.

For an owner weighing a consulting partner, a management company, or a minority investor, the point to settle at the start is who holds the equity and who has the right to sell it. The platform's chief executive says it is not an ordinary roll-up, and its launch still rests on a raise a private equity firm sponsored. For owners comparing buyers across home and facility services, the test that holds up is who owns the business after closing, whatever a buyer calls its model.

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Source: GlobeNewswire - https://www.globenewswire.com/news-release/2026/10/07/3376443/0/en/american-service-partners-launches-national-home-services-platform-acquiring-brands-from-platform-partner-holdings-and-exuma-capital.html