Has anyone successfully been able to acquire a plumbing company in the NY tri-state area? It seems the licensing requirements are too restrictive in these municipalities for searcher acquisitions. That is, it seems like you can hold master plumbing license if and only if you have 51% ownership.

Has anybody figured out structures where a searcher can run the company without a master license and still own >51% of the company? Please comment if you can connect me with anyone who's figured this out and I'll DM you.

I've heard about having multiples classes of shares and having a master plumber who is part of the company own 51% of a subordinated class. I've also heard about an opco/JV setup (how PE tends to do it), but I would think both of those routes would run afoul of SBA requirements.

Does anyone have any experience to the contrary?