Heartland Home Services
Background
Founded in 2017, Heartland Home Services was launched by North Branch Capital through a series of strategic investments and acquisitions, beginning with Randazzo Mechanical Heating & Cooling. Recognizing strong potential in the fragmented residential services market, North Branch expanded Heartland’s portfolio by acquiring additional high-quality, top performing brands.
North Branch Capital retained Randall Partners in March of 2020 to recruit a new Chief Financial Officer with the goal of professionalizing the finance function, prioritizing human capital, driving further expansion in the Midwest, and preparing the business for an exit. Central to the growth initiative was the bolstering of Heartland’s management team with the appointment of Bill Viveen as Chief Financial Officer. His immediate impact led to a fast-tracked promotion to Chief Executive Officer. Under Viveen’s leadership, Heartland expanded its services into Michigan, Ohio, Indiana, Kentucky, and Wisconsin. To support the company’s rapid organic and acquisitive growth, Bill asked Randall Partners to build out a team resulting in the addition of Director of Talent Acquisition, Vice President of Environmental Health & Safety, Vice President of Human Resources, and the Regional Human Resources Business Partner.
Randall Partners’ strategic partnership with Heartland Home Services, the Board, and existing leadership team significantly enhanced the company’s enterprise value and is notably a marquee success story in the home services sector.
Measurable Success
- Geographic Expansion: From a single operation in Michigan, Heartland grew to serve multiple states, with over 25 leading brands under its umbrella by 2025.
- Operational Efficiency: Partner companies reported significant improvements in service delivery, with reduced response times and higher customer satisfaction scores. For example, streamlined subcontract control and billing processes saved time and costs for brands like FLAME Heating, Cooling, Plumbing & Electrical.
- Employee Satisfaction: Heartland’s focus on career opportunities and veteran hiring led to lower turnover rates compared to industry averages, fostering a loyal and skilled workforce.
- Customer Impact: Online reviews across Heartland’s brands reflect high customer satisfaction, with many praising the professionalism and reliability of technicians. The company’s emphasis on technology ensured consistent, high-quality service, even as it scaled.
- Financial Growth: Through Bill Viveen’s leadership and nearly 30 acquisitions, the company was successfully sold to The Jordan Company in December of 2020.