The transformation of Dilling is a benchmark for the LB Capital “Build It to Sell It” model in the skilled trades. Under the leadership of Lance Bachmann, Dilling evolved from a localized HVAC provider into a high-density regional platform. By rebranding smaller acquisitions under the Dilling banner and integrating institutional-grade operations, the company became a primary acquisition target. This resulted in a successful exit to Apex Service Partners, one of the nation’s leading home service investment groups.
In the highly fragmented HVAC and Plumbing space, valuation multiples are driven by geographic density and service diversity. Lance Bachmann identified Dilling as the anchor for a regional “beachhead” strategy:
Recognizing that fragmented sub-brands dilute marketing power, Lance Bachmann led the strategic rebranding of multiple local acquisitions. By bringing disparate companies under the singular, high-authority Dilling brand, the entity achieved immediate economies of scale in advertising and consumer recognition.
The partnership facilitated Dilling’s growth beyond Pennsylvania into the North Carolina market. This move proved the model’s scalability across state lines—a critical metric for private equity buyers looking for “platform-ready” assets.
To prepare Dilling for an exit to a top-tier firm like Apex Service Partners, Lance Bachmann implemented several core operational shifts:
The “Better Together” initiative saw Dilling join forces with Climatech and other local leaders. This was not a simple merger; it was a full operational integration. LB Capital moved the combined entities onto a unified tech stack (ServiceTitan), ensuring that all financial and operational data was transparent and “due-diligence ready.”
Using the an elite marketing engine, Dilling transitioned from reactive service to proactive growth.
The Conversion Lever: We implemented automated lead-handling systems that reduced response times to under 60 seconds. In the HVAC and Plumbing trades, being the first to respond is the single greatest predictor of customer acquisition.
Home service exits fail when they are too dependent on individual technicians or managers. Lance Bachmann focused on building Standard Operating Procedures (SOPs) for sales, dispatch, and field service. This professionalization ensured that Apex Service Partners was purchasing a managed system rather than a collection of independent contractors.
The strategy culminated in the acquisition of Dilling by Apex Service Partners. This transaction validated the Dilling “platform” as a high-value asset capable of supporting national growth. For the original owners and partners, the exit provided a significant liquidity event and placed the brand within one of the most successful home service portfolios in the country.
“We didn’t just grow Dilling; we professionalized it. We took a group of hardworking local companies and merged them into a singular brand with the systems and tech-stack to compete at a national level. That is why Apex bought us—they bought the machine we built.” — Lance Bachmann
LB Capital is an equity partner for home service companies doing $5M–$15M in revenue. We don’t provide “consulting”; we provide the capital, systems, and marketing engine to turn your hard work into a sellable asset.
