In general, I believe there is a huge shortage of skilled trades people. Electricians, plumbers, HVAC, etc. This WSJ article is the perfect example. As a searcher, I think you'd want to look for one with a heavy service component, but much of the install/replacement work that these companies do is not overly economically sensitive either (if you have a plumbing, electrical, HVAC issue, etc. you've generally got to get it fixed ASAP!). Plenty of opportunity to scale and consolidate these fragmented industries - whether you consolidate a small region/city or something larger - via organic growth, marketing, and/or acquisitions. Because of the shortage of workers and high demand, margins can generally be very strong for a well-run operation. I think a lot of searches get scared off from these trades because they don't have the trade experience themselves and they don't know how to solve the licensing issue. However, both of these issues can be overcome. The knowledge can and will be gained, and the licensing issue can be overcome with proper structuring of the deal until you or someone else can get the necessary licensing. Would love to back/invest in more searchers in this area! Feel free to reach out to me: style='text-decoration:underline;' target='_blank' href=' ?mod=hp_lista_pos4'> ?mod=hp_lista_pos4