Private equity manager that builds service platforms

ZBS Partners

At a glance

Deal typesPlatform, Add-on S4
GeographyUnited States S3
SectorsIT Services & MSP, Accounting & Professional Services, HVAC, Plumbing & Electrical, Veterinary

What ZBS Partners buys

ZBS Partners is a private equity manager controlled by Jake Sloane and Frank Zhang, the same two founders who run Springdale Industries. It has no website of its own and publishes no buying criteria, so its buy box has to be read from what it owns. Its pattern is to build a national platform out of local service businesses, where owners usually keep some equity, their brand and their team. Springdale's disclosure names six ZBS investments: Alliance Animal Health (veterinary), Crete United (commercial HVAC and electrical), Legacy Service Partners (home HVAC and plumbing), Current (accounting), Rocket Youth (youth sports) and Shield Technology Partners (managed IT).

ZBS buys through those platforms rather than in its own name. Some deals are small: Current's partner firm RRBB has added accounting firms with about $2 million to $3 million of revenue. Thrive Holdings is also a major backer of Shield and Current. An owner whose company fits one of the six platforms would normally start with that platform, not with ZBS.

Recent deals

Announced in the 24 months before November 13, 2026.

DateCompanyTypeSectorSource
Nov 2026Ovation Tax GroupTax resolution firm in California and New York, added to Current; it keeps its name and leadersAdd-onAccounting & Professional ServicesSource
Sep 2026Nerds SupportShield Technology Partners' 20th partner companyAdd-onIT Services & MSPSource
Sep 2026Preferred CFOFractional CFO and controller firm near Salt Lake City, added to CurrentAdd-onAccounting & Professional ServicesSource
Aug 2026Shapiro Villalobos & AssociatesBurbank accounting and business management firm, the third purchase by Current's partner firm AdeptusAdd-onAccounting & Professional ServicesSource
Jul 2026RRBB tuck-in firms, including Offit & RothCurrent's partner firm RRBB reports five tuck-ins; recent ones added $2 million to $3 million of revenue eachAdd-onAccounting & Professional ServicesSource
Jul 2026Lunsford Air Conditioning and HeatingMilton, Florida HVAC company founded in 1981, added to Legacy Service PartnersAdd-onHVAC, Plumbing & ElectricalSource
Jun 2026Murphy, Miller & BaglieriGlen Rock, New Jersey accounting firm, added to CurrentAdd-onAccounting & Professional ServicesSource
May 2026Ellis MechanicalIndianapolis commercial mechanical contractor, added to Crete UnitedAdd-onHVAC, Plumbing & ElectricalSource
Apr 2026Maxwell AdvisorsCalifornia tax advisory firm, added to CurrentAdd-onAccounting & Professional ServicesSource
Apr 2026Think Advisors R&D Tax Credit practiceCarve-out of a specialist tax credit practice, added to CurrentAdd-onAccounting & Professional ServicesSource
Apr 2026Willco Air ConditioningBranchville, New Jersey HVAC company founded in 1988, added to Legacy Service PartnersAdd-onHVAC, Plumbing & ElectricalSource
Mar 2026BFJSt. Paul accounting and advisory firm, added to CurrentAdd-onAccounting & Professional ServicesSource
Feb 2026Bowers AdvisorsSyracuse accounting and advisory firm, added to CurrentAdd-onAccounting & Professional ServicesSource
Jan 2026Force 10 PartnersRestructuring and litigation support advisers in Irvine, added to CurrentAdd-onAccounting & Professional ServicesSource
Jan 2026Mellott & MellottCincinnati accounting and advisory firm, added to CurrentAdd-onAccounting & Professional ServicesSource
Dec 2025Legacy Valuations & ForensicsHauppauge, New York valuation firm, added to CurrentAdd-onAccounting & Professional ServicesSource
Nov 2025Cross FinancialPortland firm that became the first wealth management partner in CurrentAdd-onAccounting & Professional ServicesSource
Nov 2025AccuityHawaii accounting firm, the 30th partner firm in CurrentAdd-onAccounting & Professional ServicesSource
Oct 2025TKR Accountants and AdvisorsWashington, D.C. area firm that took Current into that marketAdd-onAccounting & Professional ServicesSource
Sep 2025CWDL (now Advisent)San Diego accounting firm that rebranded as it joined CurrentAdd-onAccounting & Professional ServicesSource
Jun 2025Shield Technology PartnersManaged IT platform launched with Thrive Holdings on more than $100 million of funding and four founding partner firmsPlatformIT Services & MSPSource
Jun 2025CAM H.V.A.C. & ConstructionRhode Island contractor founded in 1974, added to Crete UnitedAdd-onHVAC, Plumbing & ElectricalSource
Apr 2025NJ Pipe DoctorNew Jersey plumbing and HVAC company, added to Legacy Service PartnersAdd-onHVAC, Plumbing & ElectricalSource
Dec 2024Swedberg ElectricCommercial electrical contractor in Sycamore, Illinois, added to Crete UnitedAdd-onHVAC, Plumbing & ElectricalSource
Dec 2024Albiero Plumbing and HVACWest Bend, Wisconsin company founded in 1967, added to Legacy Service PartnersAdd-onHVAC, Plumbing & ElectricalSource

Portfolio by sector

From the firm's portfolio page S1.

Accounting & Professional Services

  • Current

HVAC, Plumbing & Electrical

  • Crete United
  • Legacy Service Partners

IT Services & MSP

  • Shield Technology Partners

Veterinary

  • Alliance Animal Health

Other

  • Rocket Youth
  • Allied Chimney Partners

Greymont’s take

How ZBS Partners fits a seller

ZBS suits the owner of a local IT, accounting, HVAC, plumbing, electrical or veterinary business who wants money at closing but would rather stay on under the same name. A sale here usually means joining one of its platforms and keeping a stake. An owner can't realistically approach ZBS itself: it has no website of its own, its domain forwards to Springdale Industries, and it publishes no criteria. The way in is the platform that fits, such as Shield for IT or Current for accounting.

Owners should ask who actually controls the platform, because Thrive Holdings has put in large sums and ZBS's share isn't public. They should also ask how much of the company they would keep, since Shield has said it buys 60 to 90 percent, and how and when that retained equity can be turned into cash.

Questions owners ask

Does ZBS Partners buy IT service companies?

Yes, through Shield Technology Partners, a managed IT platform launched with Thrive Holdings in June 2025 on more than $100 million of funding. Shield's About page now counts 20 partner companies, and its summary of a June 2025 interview says it buys 60 to 90 percent of a provider's equity.

How is ZBS Partners related to Springdale Industries?

Jake Sloane and Frank Zhang co-founded both. Springdale's disclosure says the two are under common control, while the notice on ZBS's redirect says Springdale is not directly affiliated with ZBS. Springdale's own platforms are separate from the six ZBS investments.

How can an owner reach ZBS Partners?

ZBS has no website of its own, and its domain forwards to Springdale Industries. The practical route is the platform that fits your business, such as Shield for IT services, Current for accounting, or Legacy Service Partners for home HVAC and plumbing.

How small a company will these platforms buy?

ZBS publishes no minimum. As one example, Current's partner firm RRBB says recent tuck-in firms added about $2 million to $3 million of revenue each, so a small practice can fit as an add-on to an existing partner.

Sources

  1. S1Springdale Industries home page, including its disclosures and the ZBS redirect notice Accessed November 4, 2026
  2. S2ZBS Partners domain, which redirects to Springdale Industries Accessed November 4, 2026
  3. S3Shield Technology Partners: About Accessed November 4, 2026
  4. S4Thrive Holdings and ZBS Partners Launch Shield Technology Partners (June 5, 2025) Accessed November 4, 2026
  5. S5Shield Raises $100 Million From Thrive Holdings (February 2, 2026) Accessed November 4, 2026
  6. S6Shield's summary of a CRN interview with its co-founder (June 20, 2025) Accessed November 4, 2026
  7. S7Shield's summary of Channel Dive coverage of its 20th partnership (September 24, 2026) Accessed November 4, 2026
  8. S8Current: Our Team, with the founders' and ZBS CFO's biographies Accessed November 4, 2026
  9. S9Current Hits 30 with Hawaii's Accuity (November 11, 2025) Accessed November 4, 2026
  10. S10Current's Growth Story Highlighted by Reuters, naming its backers (June 4, 2025) Accessed November 4, 2026
  11. S11Crete Professionals Alliance Rebrands as Current (June 2, 2026) Accessed November 4, 2026
  12. S12RRBB Adds Fifth Tuck-In Firm Since Joining Current (July 7, 2026) Accessed November 4, 2026
  13. S13Crete United: Partnerships Accessed November 4, 2026
  14. S14Legacy Service Partners home page Accessed November 4, 2026
  15. S15Alliance Animal Health: In The News Accessed November 4, 2026
  16. S16Rocket Youth home page Accessed November 4, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with ZBS Partners. Figures are as reported on the dates shown and may have changed. Request a correction

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