Plumbing and Mechanical

PSI On Target For IPO

June 1, 2005
At Plumbers' Success International's spring meeting in Las Vegas, VenVest CEO Jim Abrams told members that the initial public offering for PSI and other VenVest groups should occur between September of this year and January 2006. He gave members two options to become part of the “world's largest and most profitable home services company”: to exit and sell their business outright to the company, or merge and become a partner with PSI in the venture. He said members could still remain independent and reap the rewards of membership, or become a franchise operation of Benjamin Franklin if they chose.

Abrams also said that VenVest would close recruitment for Airtime 500, aimed at HVAC contractors, at the end of the year. This is to make sure all current members have the opportunity to be part of the IPO, and to ensure the company doesn't grow too fast. If successful, VenVest will close recruitment in PSI possibly next year.