15% of US car washes with employees9.3% of US body shops4.8% of US dental offices0.9% of US HVAC and plumbing contractors18% of US veterinary practices1.0% of US CPA offices belong to groups backed by private equity.
We counted more than 15,000 locations of the largest groups in car washes, collision repair, dentistry, HVAC and plumbing, veterinary care and accounting on their own websites and compared them with the government's count of businesses in each industry.
The findings in ten sentences.
- Groups backed by private equity run 18% of US veterinary practices, 15% of car washes with employees, 9.3% of body shops, 4.8% of dental offices, 1.0% of CPA offices and 0.9% of HVAC and plumbing contractors.
- In Arizona, four chains backed by private equity run 39% of car washes: Super Star, Cobblestone, Mister and Quick Quack.
- Caliber Collision alone runs 5.3% of the country's body shops.
- In Maryland, chains backed by private equity run 17% of body shops.
- Counting the dental groups that don't list their offices, at the size each one states, private equity's share of dental offices rises from 2.0% to 4.8%. At its stated size, Heartland Dental, the largest, runs 1.4% of them.
- In HVAC and plumbing, more than 30 groups backed by private equity buy local companies and keep their names. Service Logic, the largest by our count, has 121 locations, about one in 1,000 of the country's contractors.
- In veterinary practices, the three largest groups backed by private equity, NVA, Mission Pet Health and VetCor, don't list their hospitals. Counted on the websites of the groups that do, the share is 5.5%.
- Private equity has bought into many of the largest accounting firms, but most CPA offices belong to small local firms, so firms backed by private equity run 1.0% of them.
- Lender-owned groups, former private equity roll-ups now held by their lenders, run 0.9% of dental offices and 0.9% of car washes.
- Adding the family-owned, public and lender-owned chains, multi-site groups run 17% of car washes, 13% of body shops, 6.7% of dental offices and 1.3% of HVAC and plumbing contractors.
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How much of each industry private equity owns.
Groups backed by private equity run 5.5% to 18% of US veterinary practices, 15% to 16% of car washes, 9.3% to 9.6% of body shops, 2.0% to 4.8% of dental offices, 0.9% to 1.0% of CPA offices and 0.8% to 0.9% of HVAC and plumbing contractors. The higher figure adds the groups that don't list their locations, at the size each one states.
- Car washes: private equity 15% to 16%, other multi-site groups 2.2%
- Body shops: private equity 9.3% to 9.6%, other multi-site groups 3.6%
- Dental offices: private equity 2.0% to 4.8%, other multi-site groups 1.9%
- HVAC and plumbing contractors: private equity 0.8% to 0.9%, other multi-site groups 0.4%
- Veterinary practices: private equity 5.5% to 18%, other multi-site groups 0.1%
- CPA offices: private equity 0.9% to 1.0%, other multi-site groups 0.8%
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Car washes
15% of US car washes with employees belong to chains backed by private equity.
Who owns the most car washes.
Mister Car Wash runs 2.8% of US car washes, Whistle Express 2.4% and Club Car Wash and Express Wash Concepts 1.9%.
- Mister Car Wash: 2.8%Leonard Green & Partners
- Whistle Express: 2.4%Oaktree Capital Management
- Club Car Wash and Express Wash Concepts: 1.9%Wildcat Capital Management
- Quick Quack: 1.9%Seidler Equity Partners and the founders
- Tidal Wave Auto Spa: 1.7%Golden Gate Capital
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Where private equity owns the most car washes.
Arizona leads at 39%, then Tennessee, Colorado, Utah and Texas at 27% to 30%.
- ALAlabama: 25%
- AKAlaska: Fewer than 100 car washes
- AZArizona: 39%
- ARArkansas: 18%
- CACalifornia: 11%
- COColorado: 30%
- CTConnecticut: 13%
- DEDelaware: Fewer than 100 car washes
- DCDistrict of Columbia: Fewer than 100 car washes
- FLFlorida: 18%
- GAGeorgia: 21%
- HIHawaii: Fewer than 100 car washes
- IDIdaho: 14%
- ILIllinois: 4.6%
- INIndiana: 1.8%
- IAIowa: 12%
- KSKansas: 22%
- KYKentucky: 9.1%
- LALouisiana: 12%
- MEMaine: Fewer than 100 car washes
- MDMaryland: 0.7%
- MAMassachusetts: 0.0%
- MIMichigan: 13%
- MNMinnesota: 19%
- MSMississippi: 23%
- MOMissouri: 23%
- MTMontana: 2.8%
- NENebraska: 19%
- NVNevada: 4.9%
- NHNew Hampshire: Fewer than 100 car washes
- NJNew Jersey: 3.3%
- NMNew Mexico: 20%
- NYNew York: 3.7%
- NCNorth Carolina: 12%
- NDNorth Dakota: Fewer than 100 car washes
- OHOhio: 13%
- OKOklahoma: 19%
- OROregon: 2.0%
- PAPennsylvania: 3.9%
- RIRhode Island: Fewer than 100 car washes
- SCSouth Carolina: 24%
- SDSouth Dakota: Fewer than 100 car washes
- TNTennessee: 30%
- TXTexas: 27%
- UTUtah: 29%
- VTVermont: Fewer than 100 car washes
- VAVirginia: 16%
- WAWashington: 6.5%
- WVWest Virginia: Fewer than 100 car washes
- WIWisconsin: 14%
- WYWyoming: Fewer than 100 car washes
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Body shops
9.3% of US body shops belong to chains backed by private equity.
Who owns the most body shops.
Caliber Collision runs 5.3% of US body shops, Gerber Collision & Glass 3.4% and Crash Champions 1.9%.
- Caliber Collision: 5.3%Hellman & Friedman
- Gerber Collision & Glass: 3.4%Boyd Group Services, publicly traded
- Crash Champions: 1.9%Clearlake Capital
- Classic Collision: 1.0%TPG
- CollisionRight: 0.3%Summit Partners
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Where private equity owns the most body shops.
Maryland leads at 17%, then Texas, Colorado, Virginia and Washington at 14% to 15%.
- ALAlabama: 4.8%
- AKAlaska: Fewer than 100 body shops
- AZArizona: 12%
- ARArkansas: 5.4%
- CACalifornia: 12%
- COColorado: 14%
- CTConnecticut: 4.4%
- DEDelaware: Fewer than 100 body shops
- DCDistrict of Columbia: Fewer than 100 body shops
- FLFlorida: 9.2%
- GAGeorgia: 10%
- HIHawaii: 0.0%
- IDIdaho: 12%
- ILIllinois: 8.5%
- INIndiana: 8.2%
- IAIowa: 3.0%
- KSKansas: 4.8%
- KYKentucky: 9.6%
- LALouisiana: 1.8%
- MEMaine: 7.7%
- MDMaryland: 17%
- MAMassachusetts: 0.8%
- MIMichigan: 4.6%
- MNMinnesota: 9.5%
- MSMississippi: 7.7%
- MOMissouri: 7.3%
- MTMontana: 9.5%
- NENebraska: 4.1%
- NVNevada: 8.4%
- NHNew Hampshire: 9.0%
- NJNew Jersey: 5.7%
- NMNew Mexico: 12%
- NYNew York: 2.8%
- NCNorth Carolina: 12%
- NDNorth Dakota: 0.0%
- OHOhio: 10%
- OKOklahoma: 5.7%
- OROregon: 10%
- PAPennsylvania: 8.5%
- RIRhode Island: 2.1%
- SCSouth Carolina: 12%
- SDSouth Dakota: 0.0%
- TNTennessee: 13%
- TXTexas: 15%
- UTUtah: 12%
- VTVermont: Fewer than 100 body shops
- VAVirginia: 14%
- WAWashington: 14%
- WVWest Virginia: 4.6%
- WIWisconsin: 9.6%
- WYWyoming: Fewer than 100 body shops
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Dental offices
4.8% of US dental offices belong to dental groups backed by private equity.
Who owns the most dental offices.
At its stated size, Heartland Dental runs 1.4% of US dental offices. Aspen Dental, the largest group that lists its offices, runs 0.8%.
- Heartland Dental: 1.4%, at the size it statesKKR
- Aspen Dental: 0.8%Leonard Green & Partners and Ares Management
- PDS Health: 0.7%, at the size it statesPrivately held
- MB2 Dental: 0.6%, at the size it statesCharlesbank Capital Partners
- Smile Doctors: 0.3%Linden Capital Partners and THL
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Where private equity owns the most dental offices.
Counting the groups that list their offices, Wisconsin leads at 5.7%, then Rhode Island, Ohio, Iowa and Texas at 3.2% to 3.7%.
- ALAlabama: 1.7%
- AKAlaska: 0.0%
- AZArizona: 1.3%
- ARArkansas: 2.7%
- CACalifornia: 1.3%
- COColorado: 1.6%
- CTConnecticut: 2.1%
- DEDelaware: 0.7%
- DCDistrict of Columbia: 0.0%
- FLFlorida: 2.0%
- GAGeorgia: 2.5%
- HIHawaii: 0.0%
- IDIdaho: 0.8%
- ILIllinois: 1.7%
- INIndiana: 2.0%
- IAIowa: 3.2%
- KSKansas: 1.0%
- KYKentucky: 1.8%
- LALouisiana: 1.5%
- MEMaine: 2.2%
- MDMaryland: 2.0%
- MAMassachusetts: 1.4%
- MIMichigan: 1.9%
- MNMinnesota: 2.9%
- MSMississippi: 2.0%
- MOMissouri: 2.1%
- MTMontana: 0.6%
- NENebraska: 0.9%
- NVNevada: 0.3%
- NHNew Hampshire: 3.1%
- NJNew Jersey: 1.2%
- NMNew Mexico: 1.3%
- NYNew York: 1.5%
- NCNorth Carolina: 2.3%
- NDNorth Dakota: 2.1%
- OHOhio: 3.3%
- OKOklahoma: 1.5%
- OROregon: 0.9%
- PAPennsylvania: 2.2%
- RIRhode Island: 3.7%
- SCSouth Carolina: 2.6%
- SDSouth Dakota: 2.2%
- TNTennessee: 3.2%
- TXTexas: 3.2%
- UTUtah: 0.6%
- VTVermont: 2.6%
- VAVirginia: 1.6%
- WAWashington: 1.2%
- WVWest Virginia: 1.9%
- WIWisconsin: 5.7%
- WYWyoming: 2.2%
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HVAC and plumbing contractors
0.9% of US HVAC and plumbing contractors belong to groups backed by private equity.
Who owns the most HVAC and plumbing contractors.
Service Logic has 121 locations, TurnPoint Services 95 and Heartland Home Services 81. The largest runs about one in 1,000 of the country's contractors.
- Comfort Systems USA: 178 locations, at the size it statesPublicly traded
- Roto-Rooter: 121 locations, at the size it statesChemed, publicly traded
- Service Logic: 121 locationsBain Capital
- Legence: 116 locations, at the size it statesPublicly traded
- TurnPoint Services: 95 locationsOMERS Private Equity
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Every HVAC and plumbing groupWhat changes after private equity buys an HVAC company
Where private equity owns the most HVAC and plumbing contractors.
Indiana leads at 1.8%, then Delaware, Wisconsin, Kentucky and South Carolina at 1.5% to 1.7%.
- ALAlabama: 0.5%
- AKAlaska: 0.0%
- AZArizona: 0.8%
- ARArkansas: 0.3%
- CACalifornia: 0.3%
- COColorado: 1.3%
- CTConnecticut: 1.0%
- DEDelaware: 1.7%
- DCDistrict of Columbia: Fewer than 100 HVAC and plumbing contractors
- FLFlorida: 0.8%
- GAGeorgia: 0.9%
- HIHawaii: 0.0%
- IDIdaho: 0.2%
- ILIllinois: 0.9%
- INIndiana: 1.8%
- IAIowa: 0.5%
- KSKansas: 1.4%
- KYKentucky: 1.5%
- LALouisiana: 0.6%
- MEMaine: 0.8%
- MDMaryland: 1.1%
- MAMassachusetts: 0.6%
- MIMichigan: 0.5%
- MNMinnesota: 1.4%
- MSMississippi: 0.4%
- MOMissouri: 1.2%
- MTMontana: 0.2%
- NENebraska: 0.6%
- NVNevada: 0.6%
- NHNew Hampshire: 0.4%
- NJNew Jersey: 0.9%
- NMNew Mexico: 0.6%
- NYNew York: 0.4%
- NCNorth Carolina: 0.9%
- NDNorth Dakota: 0.0%
- OHOhio: 1.3%
- OKOklahoma: 0.5%
- OROregon: 0.8%
- PAPennsylvania: 1.0%
- RIRhode Island: 0.4%
- SCSouth Carolina: 1.5%
- SDSouth Dakota: 0.0%
- TNTennessee: 0.9%
- TXTexas: 0.7%
- UTUtah: 1.0%
- VTVermont: 0.6%
- VAVirginia: 0.9%
- WAWashington: 1.3%
- WVWest Virginia: 0.4%
- WIWisconsin: 1.6%
- WYWyoming: 0.3%
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Veterinary practices
18% of US veterinary practices belong to groups backed by private equity.
Who owns the most veterinary practices.
At its stated size, NVA runs 2.7% of US veterinary practices. PetVet Care Centers, the largest group that lists its hospitals, runs 1.0%.
- NVA (National Veterinary Associates): 2.7%, at the size it statesJAB Consumer Partners
- Mission Pet Health: 2.6%, at the size it statesShore Capital Partners and Silver Lake
- VetCor: 2.5%, at the size it statesOak Hill Capital, Harvest Partners and Cressey & Company
- PetVet Care Centers: 1.0%KKR
- Western Veterinary Partners: 0.9%, at the size it statesTyree & D'Angelo Partners
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Where private equity owns the most veterinary practices.
New Hampshire leads at 12%, then Georgia, Massachusetts, Maryland and Tennessee at 8.1% to 9.4%.
- ALAlabama: 3.5%
- AKAlaska: Fewer than 100 veterinary practices
- AZArizona: 6.3%
- ARArkansas: 7.7%
- CACalifornia: 6.3%
- COColorado: 5.8%
- CTConnecticut: 6.7%
- DEDelaware: Fewer than 100 veterinary practices
- DCDistrict of Columbia: Fewer than 100 veterinary practices
- FLFlorida: 6.8%
- GAGeorgia: 9.4%
- HIHawaii: 3.5%
- IDIdaho: 1.8%
- ILIllinois: 4.9%
- INIndiana: 3.4%
- IAIowa: 1.2%
- KSKansas: 3.1%
- KYKentucky: 4.6%
- LALouisiana: 3.9%
- MEMaine: 1.7%
- MDMaryland: 8.1%
- MAMassachusetts: 9.2%
- MIMichigan: 2.5%
- MNMinnesota: 1.7%
- MSMississippi: 7.1%
- MOMissouri: 2.6%
- MTMontana: 0.0%
- NENebraska: 4.3%
- NVNevada: 5.9%
- NHNew Hampshire: 12%
- NJNew Jersey: 6.8%
- NMNew Mexico: 5.7%
- NYNew York: 7.7%
- NCNorth Carolina: 6.7%
- NDNorth Dakota: Fewer than 100 veterinary practices
- OHOhio: 4.1%
- OKOklahoma: 2.4%
- OROregon: 3.4%
- PAPennsylvania: 4.5%
- RIRhode Island: 8.1%
- SCSouth Carolina: 7.3%
- SDSouth Dakota: 0.6%
- TNTennessee: 8.1%
- TXTexas: 4.9%
- UTUtah: 4.1%
- VTVermont: 5.1%
- VAVirginia: 5.8%
- WAWashington: 5.9%
- WVWest Virginia: 4.5%
- WIWisconsin: 2.8%
- WYWyoming: 1.7%
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CPA offices
1.0% of US CPA offices belong to firms backed by private equity.
Who owns the most CPA offices.
Carr, Riggs & Ingram has 94 offices, Ascend 70 and Aprio, EisnerAmper and UHY 46 each. Even the largest runs about one in 700 of the country's CPA offices.
- CBIZ (Marcum): 140 locations, at the size it statesPublicly traded, sale pending
- Carr, Riggs & Ingram (CRI): 94 locationsCenterbridge Partners
- Baker Tilly: 93 locationsPrivate equity, minority stake
- Ascend: 70 locationsAlpine Investors
- Cherry Bekaert: 54 locationsParthenon Capital, minority stake
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Where private equity owns the most CPA offices.
Alabama leads at 2.4%, then New Mexico, New Hampshire, Oregon and Georgia at 1.6% to 2.1%.
- ALAlabama: 2.4%
- AKAlaska: 0.0%
- AZArizona: 0.2%
- ARArkansas: 0.0%
- CACalifornia: 0.7%
- COColorado: 0.9%
- CTConnecticut: 1.2%
- DEDelaware: 0.8%
- DCDistrict of Columbia: 0.7%
- FLFlorida: 1.0%
- GAGeorgia: 1.6%
- HIHawaii: 0.0%
- IDIdaho: 1.0%
- ILIllinois: 0.6%
- INIndiana: 0.3%
- IAIowa: 0.4%
- KSKansas: 1.4%
- KYKentucky: 0.3%
- LALouisiana: 0.8%
- MEMaine: 0.0%
- MDMaryland: 1.6%
- MAMassachusetts: 1.3%
- MIMichigan: 0.8%
- MNMinnesota: 0.6%
- MSMississippi: 1.0%
- MOMissouri: 0.6%
- MTMontana: 0.2%
- NENebraska: 0.0%
- NVNevada: 1.1%
- NHNew Hampshire: 1.9%
- NJNew Jersey: 1.2%
- NMNew Mexico: 2.1%
- NYNew York: 1.2%
- NCNorth Carolina: 1.5%
- NDNorth Dakota: 0.0%
- OHOhio: 1.0%
- OKOklahoma: 0.5%
- OROregon: 1.6%
- PAPennsylvania: 0.6%
- RIRhode Island: 0.4%
- SCSouth Carolina: 1.0%
- SDSouth Dakota: 0.0%
- TNTennessee: 1.0%
- TXTexas: 1.0%
- UTUtah: 0.7%
- VTVermont: 0.6%
- VAVirginia: 0.6%
- WAWashington: 1.2%
- WVWest Virginia: 0.0%
- WIWisconsin: 0.9%
- WYWyoming: 1.1%
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Software for a roll-up.
A roll-up runs the same work at every site it buys, from booking and estimates to billing and payroll. We write the software those sites share, one process at a time, and the owner keeps the code. How we work with buyers and operating partners.
The data.
We counted the locations on September 30, 2026.
How we did it
We counted the US locations of the largest multi-site groups in car washes, collision repair and dentistry on September 30, 2026, from each group's own website: its sitemap, its location finder or its location pages. HVAC and plumbing followed on October 3, 2026, and veterinary practices and accounting firms on October 15, 2026. Their groups often keep the names of the businesses they buy, so we read each group's list and then each business's own website, as each page's method explains. That came to 15,321 locations of 109 groups, out of 152 groups studied. Each location counts once. Pages for a region rather than one location are out, and so are locations outside the US and sites marked as coming soon.
43 groups don't list their locations in one place, among them Heartland Dental, MB2 Dental, Apex Service Partners and NVA, whose offices keep their own names. We use the size each one states, show those groups apart and leave them out of the state figures. Tommy's Express, whose washes are mostly franchised, counts its company-owned sites only.
A group counts as backed by private equity when a private equity firm or a similar investment firm controls it, or when a dated source names a private equity fund as its owner or lead investor. NVA counts, as it belongs to JAB Consumer Partners, a JAB fund with outside investors. Minority stakes and deals not yet closed are listed apart. Mars, which owns VCA, Banfield and BluePearl, is family-owned and isn't counted. Groups their lenders took over in a restructuring count apart, as lender-owned. Publicly traded, family-owned and dentist-owned groups, an infrastructure fund's and a retailer cooperative's count as multi-site groups, not as private equity. A franchise sign isn't ownership, so franchised CARSTAR, Fix Auto, ABRA, One Hour or Mr. Rooter shops count as independent.
The number of businesses in each industry is the Bureau of Labor Statistics count of private establishments with employees for the first quarter of 2026: 20,042 car washes (NAICS 811192), 35,392 body shops (811121), 138,982 dental offices (621210), 125,652 plumbing, heating and air-conditioning contractors (238220), 36,732 veterinary practices (541940) and 63,134 offices of certified public accountants (541211). Car washes without staff aren't in that count. The Census Bureau's 2023 counts are within 2% of these for the first three.
We read each location's state from its website. A state's count of businesses is the larger of the Bureau of Labor Statistics count for the first quarter of 2026 and the Census Bureau's 2023 County Business Patterns count. The first can fold a chain's sites in a state into one report, and the second misses sites opened since 2023, so the larger count keeps a state's share from running high. Washington, West Virginia, Wisconsin and Wyoming use the first count only. A state is charted when it has at least 100 establishments in the industry, and the tables show every state. 60 locations have no state and count only in the national figures.
Owners are as reported by the groups' investors and the trade press, checked against sources from 2025 and 2026. A firm is named when its source is clear, otherwise the owner reads as private equity.
Published counts line up with these where they measure the same thing. Focus Advisors' 2025 counts of the largest collision repair groups are within 2% of ours, and a 2024 Health Affairs study found almost 5% of US dental offices affiliated with private equity in 2021. The American Dental Association's 16.1% for 2024 is higher because it counts dentists rather than offices, in practices tied to any dental service organization. Industry reporting puts corporate owners of every kind at about a quarter of US general veterinary practices (VIN News, 2023), and KPMG Corporate Finance found private equity in 11 of the 30 largest US accounting firms by the third quarter of 2025, counted by firm rather than office.
These shares are floors. Groups we didn't count, and brands of counted groups that don't list their locations, aren't in them. Car Wash Advisory puts private equity and other institutional investors at 61% of the highest-volume express car washes in 2025, which shows how much of that end of the market sits with owners beyond the largest chains. A location is a place a group lists on its website.
Every industry
| Industry | Establishments | Private equity | With stated sizes | All multi-site groups |
|---|---|---|---|---|
| Car washes | 20,042 | 15% | 16% | 18% |
| Body shops | 35,392 | 9.3% | 9.6% | 13% |
| Dental offices | 138,982 | 2.0% | 4.8% | 6.7% |
| HVAC and plumbing contractors | 125,652 | 0.8% | 0.9% | 1.3% |
| Veterinary practices | 36,732 | 5.5% | 18% | 18% |
| CPA offices | 63,134 | 0.9% | 1.0% | 1.8% |
Every group
| Group | Owner | Locations | Share |
|---|---|---|---|
| Car washes | |||
| Mister Car Wash | Leonard Green & Partners | 557 | 2.8% |
| Whistle Express | Oaktree Capital Management | 488 | 2.4% |
| Club Car Wash and Express Wash Concepts | Wildcat Capital Management | 386 | 1.9% |
| Quick Quack | Seidler Equity Partners and the founders | 381 | 1.9% |
| Tidal Wave Auto Spa | Golden Gate Capital | 342 | 1.7% |
| MOJO Family of Brands (Mammoth Holdings) | Private equity | 250 stated | 1.2% |
| ZIPS Car Wash | Owned by its lenders | 188 | 0.9% |
| GO Car Wash | Imperial Capital | 156 | 0.8% |
| WhiteWater Express | Freeman Spogli | 153 | 0.8% |
| Spotless Brands (Cobblestone, Flagship) | Access Holdings | 151 | 0.8% |
| ModWash | Founder-owned | 136 | 0.7% |
| Super Star Car Wash | TSG Consumer Partners | 116 | 0.6% |
| Summit Wash (Russell Speeder's, Waters) | New Mountain Capital | 99 | 0.5% |
| Autobell | Family-owned | 95 | 0.5% |
| El Car Wash | Warburg Pincus | 95 | 0.5% |
| Caliber Car Wash | Private equity | 64 | 0.3% |
| Tommy's Express | Family-owned franchisor, company sites only | 30 stated | 0.1% |
| Body shops | |||
| Caliber Collision | Hellman & Friedman | 1,887 | 5.3% |
| Gerber Collision & Glass | Boyd Group Services, publicly traded | 1,205 | 3.4% |
| Crash Champions | Clearlake Capital | 661 | 1.9% |
| Classic Collision | TPG | 348 | 1.0% |
| CollisionRight | Summit Partners | 118 | 0.3% |
| Quality Collision Group | Private equity | 95 | 0.3% |
| VIVE Collision | Greenbriar Equity Group | 82 | 0.2% |
| G&C Auto Body | Family-owned | 65 | 0.2% |
| Puget Collision | Eagle Merchant Partners | 64 stated | 0.2% |
| Kaizen Collision Center | Kinderhook Industries | 46 | 0.1% |
| OpenRoad Collision | Private equity | 41 | 0.1% |
| BrightPoint | Private equity | 36 stated | 0.1% |
| Chilton Auto Body | Trive Capital | 26 | 0.1% |
| Dental offices | |||
| Heartland Dental | KKR | 1,900 stated | 1.4% |
| Aspen Dental | Leonard Green & Partners and Ares Management | 1,093 | 0.8% |
| PDS Health | Privately held | 1,000 stated | 0.7% |
| MB2 Dental | Charlesbank Capital Partners | 800 stated | 0.6% |
| Smile Doctors | Linden Capital Partners and THL | 463 | 0.3% |
| Smile Brands (Bright Now!, Castle, Monarch, Midwest) | Private equity | 452 | 0.3% |
| Dental Care Alliance | Owned by its lenders | 400 stated | 0.3% |
| Sonrava (Western Dental, Brident) | New Mountain Capital | 386 | 0.3% |
| Affordable Care (Affordable Dentures & Implants) | Owned by its lenders | 365 | 0.3% |
| SGA Dental Partners | Thurston Group | 250 stated | 0.2% |
| Specialized Dental Partners | Quad-C | 250 stated | 0.2% |
| Specialty Dental Brands | Owned by its lenders | 250 stated | 0.2% |
| US Oral Surgery Management | Private equity | 242 stated | 0.2% |
| Great Expressions | Owned by its lenders | 224 | 0.2% |
| North American Dental Group | Privately held | 200 stated | 0.1% |
| SALT Dental Partners | Latticework Capital | 200 stated | 0.1% |
| Specialty1 Partners | Private equity | 200 stated | 0.1% |
| Guardian Dentistry Partners | Family office | 164 stated | 0.1% |
| DECA Dental (Ideal Dental) | Private equity | 161 | 0.1% |
| Dental365 | The Jordan Company | 158 | 0.1% |
| Sage Dental | Private equity | 150 stated | 0.1% |
| Mortenson Dental Partners | Privately held | 44 | 0.0% |
| HVAC and plumbing contractors | |||
| Comfort Systems USA | Publicly traded | 178 stated | 0.1% |
| Roto-Rooter | Chemed, publicly traded | 121 stated | 0.1% |
| Service Logic | Bain Capital | 121 | 0.1% |
| Legence | Publicly traded | 116 stated | 0.1% |
| TurnPoint Services | OMERS Private Equity | 95 | 0.1% |
| Heartland Home Services | Private equity | 81 | 0.1% |
| Service Experts | Brookfield Infrastructure, an infrastructure fund | 77 | 0.1% |
| Apex Service Partners | Alpine Investors | 75 stated | 0.1% |
| Sila Services | Goldman Sachs Alternatives | 54 | 0.0% |
| Legacy Service Partners | Private equity | 52 | 0.0% |
| ARS (Rescue Rooter) | GI Partners | 48 | 0.0% |
| Orion Services Group | Alpine Investors | 46 | 0.0% |
| Wrench Group | Leonard Green & Partners | 46 | 0.0% |
| PremiStar | Partners Group | 41 | 0.0% |
| Strikepoint Group Holdings | Private equity | 40 | 0.0% |
| Crete United | Private equity | 37 | 0.0% |
| Flint Group | Private equity | 34 | 0.0% |
| Redwood Services | Altas Partners | 34 | 0.0% |
| Champions Group | Blackstone | 30 | 0.0% |
| CoolSys | Ares Management | 30 | 0.0% |
| P3 Services | Stellex Capital Management | 29 | 0.0% |
| Leap Partners | Concentric Equity Partners | 27 | 0.0% |
| FirstCall Mechanical Group | SkyKnight Capital | 24 | 0.0% |
| Liberty Service Partners | NorthCurrent Partners | 24 | 0.0% |
| NearU Services | Private equity | 24 stated | 0.0% |
| Modigent | OMERS Private Equity | 23 | 0.0% |
| Southern Home Services | Gryphon Investors | 17 | 0.0% |
| The Arcticom Group | A&M Capital Partners | 16 | 0.0% |
| Fix-It Group | Two Parks Capital | 14 | 0.0% |
| Friendly Group | Private equity | 14 | 0.0% |
| Seacoast Service Partners | White Wolf Capital | 13 | 0.0% |
| United Building Solutions | AE Industrial Partners | 11 stated | 0.0% |
| NexCore | Trinity Hunt Partners | 10 | 0.0% |
| T3 Services Group | The Riverside Company | 9 | 0.0% |
| USA Hometown Experts | MSouth Equity Partners | 9 stated | 0.0% |
| LTP Home Services Group (Len The Plumber) | Private equity | 7 | 0.0% |
| Ace Hardware Home Services | A retailer-owned cooperative | 1 | 0.0% |
| Repipe Specialists | Private equity | 1 | 0.0% |
| Veterinary practices | |||
| NVA (National Veterinary Associates) | JAB Consumer Partners | 1,000 stated | 2.7% |
| Mission Pet Health | Shore Capital Partners and Silver Lake | 970 stated | 2.6% |
| VetCor | Oak Hill Capital, Harvest Partners and Cressey & Company | 900 stated | 2.5% |
| PetVet Care Centers | KKR | 384 | 1.0% |
| Western Veterinary Partners | Tyree & D'Angelo Partners | 325 stated | 0.9% |
| Thrive Pet Healthcare | TSG Consumer Partners | 321 | 0.9% |
| Heartland Veterinary Partners | Gryphon Investors | 300 stated | 0.8% |
| Alliance Animal Health | L Catterton | 257 | 0.7% |
| CareVet | Compass Group Equity Partners | 220 stated | 0.6% |
| AmeriVet Veterinary Partners | AEA Investors | 212 | 0.6% |
| Blue River PetCare | Private equity | 200 stated | 0.5% |
| Veterinary Practice Partners | Audax Private Equity | 200 stated | 0.5% |
| American Veterinary Group | Private equity | 187 | 0.5% |
| Community Veterinary Partners | Private equity | 150 stated | 0.4% |
| Ethos Veterinary Health | JAB Consumer Partners, through NVA | 125 | 0.3% |
| Rarebreed Veterinary Partners | Private equity | 118 stated | 0.3% |
| United Veterinary Care | Nordic Capital | 101 | 0.3% |
| GoodVets | Private equity | 88 | 0.2% |
| Innovetive Petcare | Private equity | 74 | 0.2% |
| Suveto | Private equity | 67 | 0.2% |
| Animal Dermatology Group | Private equity | 65 | 0.2% |
| Encore Vet Group | Private equity | 52 | 0.1% |
| VetEvolve | Varsity Healthcare Partners | 50 | 0.1% |
| EverVet Partners | Private equity | 35 stated | 0.1% |
| Heart + Paw | Private equity | 31 | 0.1% |
| Hippo Veterinary Group | Private equity investors, control not confirmed | 29 | 0.1% |
| NVA Equine | JAB Consumer Partners | 25 stated | 0.1% |
| Lovet Pet Health Care | Private equity | 23 stated | 0.1% |
| Sploot Veterinary Care | Private equity investors, control not confirmed | 11 | 0.0% |
| CPA offices | |||
| CBIZ (Marcum) | Publicly traded, sale pending | 140 stated | 0.2% |
| Carr, Riggs & Ingram (CRI) | Centerbridge Partners | 94 | 0.1% |
| Baker Tilly | Private equity, minority stake | 93 | 0.1% |
| Ascend | Alpine Investors | 70 | 0.1% |
| Cherry Bekaert | Parthenon Capital, minority stake | 54 | 0.1% |
| Eide Bailly | Reverence Capital Partners, deal not closed | 51 | 0.1% |
| Aprio | Charlesbank Capital Partners | 46 | 0.1% |
| EisnerAmper | TowerBrook Capital Partners | 46 | 0.1% |
| UHY | Summit Partners | 46 | 0.1% |
| Wipfli | New Mountain Capital, minority stake | 45 stated | 0.1% |
| Grant Thornton | New Mountain Capital | 44 | 0.1% |
| Crowe | KKR | 40 stated | 0.1% |
| CohnReznick | Apax Partners | 39 | 0.1% |
| Springline Advisory | Trinity Hunt Partners | 26 | 0.0% |
| Citrin Cooperman | Blackstone and co-investors | 25 stated | 0.0% |
| Doeren Mayhew | Audax Private Equity, minority stake | 25 | 0.0% |
| Sorren | DFW Capital Partners | 25 | 0.0% |
| PKF O'Connor Davies | Investcorp | 23 | 0.0% |
| Armanino | Further Global Capital Management, minority stake | 22 stated | 0.0% |
| HBK | H.I.G. Capital, deal not closed | 20 | 0.0% |
| ATA | Copley Equity Partners, minority stake | 18 stated | 0.0% |
| Capstone Accounting & Tax | Seaside Equity Partners | 16 | 0.0% |
| Cohen & Co | Lovell Minnick Partners | 15 | 0.0% |
| Frazier & Deeter | General Atlantic | 15 | 0.0% |
| Richey May | Private equity | 15 | 0.0% |
| Meaden & Moore | Unity Partners | 14 | 0.0% |
| Sikich | Bain Capital, minority stake | 14 | 0.0% |
| Nichols Cauley | Madison Dearborn Partners | 13 | 0.0% |
| Prosperity Partners | Unity Partners | 10 | 0.0% |
| Smith + Howard | TPG | 10 | 0.0% |
| Elliott Davis | Flexpoint Ford | 8 | 0.0% |
| Stephano Slack | Madison Dearborn Partners | 7 | 0.0% |
| Sax | Cobepa, minority stake | 6 | 0.0% |
Cite this study
Fulkerson Advisors (2026). How Much of Main Street Private Equity Owns: Car Washes, Body Shops, Dental Offices, HVAC and Plumbing Contractors, Veterinary Practices and Accounting Firms, September and October 2026. https://www.fulkersonadvisors.com/research/private-equity-ownership
Use any of these numbers or charts. Credit Fulkerson Advisors and link to this page. The data is under a CC BY 4.0 license.
The data is also on Zenodo, DOI 10.5281/zenodo.23320298.
Questions
How much of Main Street does private equity own?
Groups backed by private equity run 15% of US car washes with employees, 9.3% of body shops, 5.5% to 18% of veterinary practices, 2.0% to 4.8% of dental offices, 0.9% to 1.0% of CPA offices and 0.8% to 0.9% of HVAC and plumbing contractors.
Which industry has private equity consolidated the most?
Counted on the groups' own websites, car washes, at 15%. In Arizona the share is 39%. Adding the groups that only state their size, veterinary practices are higher, at 18%. HVAC and plumbing is the least consolidated, at 0.9%.
How much of the veterinary industry does private equity own?
Groups backed by private equity run 18% of US veterinary practices, 5.5% counted on the groups' own websites and the rest at the size each group states.
How much of the accounting industry does private equity own?
Firms backed by private equity run 0.9% to 1.0% of US CPA offices. Most offices belong to small local firms, while private equity has bought into many of the largest.
How much of HVAC and plumbing does private equity own?
Groups backed by private equity run 0.8% to 0.9% of US HVAC and plumbing contractors, counted by location. Service Logic is the largest by our count.
Who owns the most car washes in the US?
Mister Car Wash, with 2.8% of US car washes.
Who owns the most body shops in the US?
Caliber Collision, with 5.3% of US body shops.
Are these shares complete?
They're floors. They count the largest multi-site groups in each industry, so smaller groups, and brands of counted groups that don't list their locations, would add to them.