Operator-led private investment firm buying founder-owned service businesses
Heritage Holding
- HeadquartersBoston, MA S4
- Websiteheritage-holding.com
- Last verifiedOctober 27, 2026
At a glance
| Check size | $5M to $100M S2 |
|---|---|
| Deal types | Platform, Add-on S2 |
| Sectors | IT Services & MSP, HVAC, Plumbing & Electrical, Construction Services, Healthcare Services |
What Heritage Holding buys
Heritage Holding is a Boston investment firm run by former operators that buys majority stakes in founder and family-run service businesses. It looks for companies with steady revenue, a record of profits and loyal customers, in industries that are only starting to consolidate. Its current focus list covers managed IT service providers, rural internet providers, commercial HVAC, power and utility contractors, hydrovac services, fencing, engineering, data centers, remote patient monitoring, fractional CFO firms, pest control and wealth management.
Platform investments usually run from $5 million to $100 million, and Heritage puts no size limit on add-ons, so a small local company can still fit. It says it has completed more than 50 acquisitions across more than 10 platforms. Its capital comes from family offices, which it says frees it from the usual three to five year private equity hold. Recent additions include HVAC contractors Airco and Blue Mountain Mechanical, utility contractors Arrowhead Line, RedRock and Roberts Ditching, managed IT provider Columbia Advisory Group, and Fence Masters in 2026.
Recent deals
Announced in the 24 months before October 27, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| December 2025 | Unnamed Massachusetts engineering services providerSale to Heritage Holding USA closed November 14, 2025, announced by the seller's advisor, Generational Group | Investment | Source |
Portfolio by sector
From the firm's portfolio page S3.
Diagnostic Testing
- Omnia Current
Engineering Services
- Consulting Engineering Services Current
- Earles Engineering & Inspection Current
Fencing
- Fence Masters Current
HVAC
- Airco Current
- Blue Mountain Mechanical Current
- Walker Mechanical Current
- Winchester Mechanical Current
Internet Service Providers
- Hilltop Broadband Current
- Hyak Current
- MiFiber Current
- NCI Datacom Current
- Thrive Broadband Current
- Wind Wireless Current
Managed Service Providers
- Complete Network Current
- Bluenet Current
- Columbia Advisory Group Current
- CVM Current
- Fluid Networks Current
- Umzuzu Current
Power Services
- Arrowhead Line Current
- RedRock Current
- Roberts Ditching Current
Remote Patient Monitoring
- 1bios Current
Past investments: ActivMed, Boston Clinical Trials, Quest Research Institute, Battery Power Solutions, Maicom, Maiuri Electrical, Penta Communications, Waveguide, Data102, Quonix, TurnKey Internet, NCS Global, Sturgeon
Greymont’s take
How Heritage Holding fits a seller
Heritage is worth a call for owners of small and mid-sized managed IT providers, commercial HVAC contractors, utility and powerline contractors, and fencing companies, because it is building platforms in each and accepts add-ons of any size. Its MSP page says it wants firms with recurring managed service contracts, hands-on support for small and mid-sized clients, and a plan for leadership succession.
A sale usually means selling a majority stake and joining a regional group of similar companies. Heritage leans on operating help such as finance, recruiting, ERP systems and winning larger customers, and founder quotes on its site describe staying on and growing after the sale. Because Heritage says it does not follow a fixed three to five year hold, owners should ask how long it actually expects to own the business and how any equity they keep would eventually be turned into cash.
Questions owners ask
Will Heritage Holding buy a small company?
Yes, especially as an add-on. Its criteria page says platform investments typically range from $5 million to $100 million and that there is no size restriction for strategic add-ons.
Does Heritage Holding invest in managed IT service providers?
Yes. MSPs are a named focus, and its portfolio lists six current MSP holdings: Complete Network, Bluenet, CVM, Fluid Networks, Umzuzu and Columbia Advisory Group, the newest added in 2025.
Does Heritage Holding buy majority or minority stakes?
Its criteria page says it mainly pursues majority acquisitions of founder or family-run businesses, and its home page says its committed capital comes from family offices.
Sources
- S1Heritage Holding home page (focus industries and approach) Accessed October 27, 2026
- S2Heritage Holding: Investment Criteria Accessed October 27, 2026
- S3Heritage Holding: Our Companies Accessed October 27, 2026
- S4Heritage Holding: Contact (Boston office) Accessed October 27, 2026
- S5Heritage Holding: Managed Service Providers focus Accessed October 27, 2026
- S6Heritage Holding: HVAC Services focus Accessed October 27, 2026
- S7Generational Group: Engineering Service Provider Acquired by Heritage Holding USA, LLC (December 2025) Accessed October 27, 2026
- S8Heritage Holding: Team Accessed October 27, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Heritage Holding. Figures are as reported on the dates shown and may have changed. Request a correction