5.3.13.3Vertical

Drywall & Metal Framing

Drywall and metal stud framing contractors.

Market snapshot

These figures describe Specialty Interior Contractors (5.3.13), the segment that Drywall & Metal Framing sits within. They are not figures for Drywall & Metal Framing on its own.

Market size
~$184B
Growth
~6.3%CAGR (2017–22, nominal)
Companies
~125,379 firms
Firms by employee count

94% of firms have fewer than 20 employees: 117,820 micro-businesses, below most mandates.

The investable universe7,559 firms with 20+ employees
20–99
6,64088%
100–499
78510%
500+
1342%

Finishing trades sit at the end of the build, so they feel the cycle last and hardest, and revenue per firm is the lowest of any segment here. Labor is the whole cost base and the whole constraint; the firms that scale are those that solved crew retention, not those that won the most work.

NAICS 238310, 238320, 238330, 238340, 238350, 238390. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Business model & economics

Revenue model

Interior-finishing trade contracts

Key economics

Revenue per firm
$1,470,582
Revenue per employee
$223,533
Employees per firm
6.8
Recurring revenue
Low–Moderate

renovation and TI work

EBITDA margin
Labor-driven, trade-dependent
Capex intensity
Low

Characteristics

  • Balanced cost base: payroll is 25% of revenue, leaving room to scale margin without cutting staff
  • Moderate strategic-buyer pool: 134 firms exceed 500 employees, so a scaled asset has buyers, but not many
  • Local building-finishing trade contractors.
  • Renovation and tenant-improvement add resilience.
  • Intensely local and labor-driven.

NAICS 238310, 238320, 238330, 238340, 238350, 238390. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

M&A deal context

Deal activityModerate

Who’s acquiring

  • PE-backed trade platforms
  • Regional finishing consolidators
  • Building-services strategics

What’s driving deals

  • Emerging finishing-trade consolidation.
  • Renovation and commercial-fit-out demand.
  • Fragmented local-contractor roll-up.

Find Drywall & Metal Framing acquisition targets

Search Acquisera’s index for companies classified under Drywall & Metal Framing (5.3.13.3) and build a targeted deal pipeline.

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