For many home improvement is grunt work (even in its fictionalized form). And though occasionally volatile, as Tim the Toolman found out on a regular basis, it has proven to be a fertile sector for direct lenders.

Recent activity suggests private credit has found a home in the space. In the last month, 9fin has reported on Cerberus leading a financing package that supports Littlejohn’s preferred equity investment in Great Day Improvements, while Oak Hill Advisors provided a $350m debt facility to fund AEA Investors’ acquisition of Nations Roof.

Such deals perhaps show we’re in a good part of the cycle.