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00:00:01
The big boys are coming for us all!!!
12 Plays4 days ago
Be ready!!!
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Transcript
Enercare Overview
00:00:00
Baker Plbg
Okay, I'm back on the private equity train here. Over the course of the Olympics, I saw a couple commercials for Enercare, E-N-E-R, n e r care And so I looked it up. Did you know that Enercare is one of North America's ah largest home and commercial services and energy solutions providers, primarily serving over 1.9 million customers across Canada?
Acquisition History
00:00:25
Baker Plbg
It was founded in Ontario in the 1950s. And... was recently purchased, well in 2018, for approximately $4.3
Service Operations
00:00:36
Baker Plbg
billion. dollars ah And what do they do? They, their core, ah or sorry, they are in the heating and cooling space, water heating and treatment, plumbing and electrical, and protection plans.
00:00:52
Baker Plbg
So I looked it up, and this is all, you can search this ah through Google. They are basically Enercare Solutions, which provides water heaters, HVAC rentals, which is an absolute scam, and what is used by the private equity firms to pump up their numbers, plumbing services, and protection plans.
00:01:14
Baker Plbg
They also own service experts. We have several service expert companies here in in Alberta. um They own Hydro Solutions and Enercare Connections.
00:01:27
Baker Plbg
which includes Triacta, Stratacon Incorporated, and Enbridge Electrical Connections.
Regional Brands and Expansion
00:01:35
Baker Plbg
Listen, man, I find it fascinating.
00:01:38
Baker Plbg
um Oh, there's some more. Regional brand brands, Pioneer Plumbing and Heating in British Columbia, Siles Mechanical Services in Ontario, And like I say, there's quite a few. A1 Chesney's here in Calgary is a service experts company.
00:01:57
Baker Plbg
um I do find it interesting that they won't use their actual name. that it's I mean, it's cloak and dagger stuff, man. and and So if you're buying something for $4.3 billion, dollars you know you got to make that profit back. um And it's it's actually there's actually an article in HPAC Magazine. Hang on second.
00:02:17
Baker Plbg
Okay, so in H-PAC Magazine in September 18th of 2023, does an article on Enercare enters BC with the acquisition of Pioneer Plumbing and Heating, which was established in 1976. Let me see if I can find an actual price tag.
00:02:34
Baker Plbg
The initial brush does not give me a price tag. Other than it's ah currently approximately has about 45 employees.
Private Equity Influence
00:02:46
Baker Plbg
Enercare is market are headquartered in Markinham, Ontario and has existing operations in Alberta, Manitoba, New Brunswick, Ontario, Quebec, Saskatchewan under its Enercare service experts in hydro solution bands.
00:02:58
Baker Plbg
Private equity is trying to take us all over. Buyer beware.