Euclid-based Fred's Home Services, a provider of heating, cooling and plumbing services, has been acquired by Norwalk, Conn.-based Home Serve USA.
The acquisition is the fifth acquisition in the last year for privately held HomeServe, including the December purchase of Elyria-based Geisel Heating, Air Conditioning & Plumbing Inc.
Fred's Home Services was founded by Fred Bucci in 1982. Steve Newman was the most recent owner prior to the sale to Home Serve.
“As I looked at how to best position Fred’s Home Services for growth in both the near and long term, transitioning into a strong, growing company like HomeServe made terrific sense,” Newman said in a statement. “Their coverage throughout the area combined with their smart business acumen will be key to helping us grow.”
Northeast Ohio has proven to be a strong market for Home Serve, according to CEO John Kitzie.
“From a customer perspective, the Cleveland area, including Akron, has been the number one geographic location for total customer savings over the last 12 months," he said. "HomeServe has completed more than 14,000 jobs in the area."