P1 Service Group Enters 2023 with Strong Outlook Following Robust Growth in 2022

The industry-leading home service growth partner added over 270 team members and served more than 43,000 customers last year

CHICAGO, Jan. 26, 2023 /PRNewswire/ -- P1 Service Group, an industry-leading growth partner that provides world-class resources to its home service partner companies across the country, added more than 270 new team members in 2022, helping to significantly bolster the capacity of its emergent family to serve more than 43,000 customers during the year. The company credits the commitment of its partner companies, along with its combined marketing and recruiting efforts, for its success in 2022 and anticipates strong progress to continue in the coming year.

"Our amazing growth this past year would not have been possible without the commitment of our partner companies to their teams and the people they serve," said P1 CEO Jeff Belk. "Our leadership has effectively identified the values we seek in partner companies and moved to quickly bring these companies into our family. These achievements show that when you put people first, your company can achieve its goals."

In laying the foundation for their achievements in 2022, P1 Service Group partnered with three new companies in different markets across the country, expanded their industry expertise through the addition of six new leadership positions, and participated in its first business planning workshop with partner companies to build strategies for 2023. In addition, P1 Service Group invested in the communities they serve, donating $60,000 to charity and partaking in dozens of hours of community service.

"Through a concerted effort to add subject matter experts to our leadership and consolidating marketing and recruiting resources for our partner companies, we have built the foundation for significant value creation," Belk said. "P1 is poised for significant growth in 2023, and we look forward to helping additional partner companies achieve their goals."

For more information about P1 Service Group, please visit www.p1servicegroup.com. P1 Service Group is financially backed by River Sea Network and The Edgewater Funds.

Founded in 2021, P1 Service Group is an industry-leading growth partner to home service companies across the country. P1 supports its residential HVAC, plumbing, and electrical partner companies with a 'people first' approach, providing resources in the areas of recruiting, marketing, finance, training, leadership, acquisitions, business strategy, call center management, equipment pricing and procurement, and more. P1 partners with home service companies in the range of $10 to $100 million in annual revenue that share in the belief of its mission. P1 believes growth and profits come as a result of satisfied and supported team members through a positive, thriving culture. For more information, please visit www.p1servicegroup.com.

River Sea Network, founded in 2020, is a private investment management firm located in New York City. Although it pursues other strategies, River Sea is currently investing committed capital in the residential heating & air conditioning industry. Following a transaction, River Sea provides capital investment, strategic advice, business consultation and human resources to help companies achieve their full potential. For more information, please visit www.riverseanetwork.com.

The Edgewater Funds is a Chicago-based private equity firm with over $3.0 billion of capital commitments raised since 2001. Through Edgewater Growth Capital Partners, they partner with management to help accelerate growth in their businesses. They are a flexible partner and can execute control and non-control investments. Please contact [email protected] for any questions or information.

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Heather Ripley
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SOURCE P1 Service Group