2025 outlook: premium HVAC sellers strong, more buyer skepticism

Cerasuolo expects strong valuations for good-quality, well-led HVAC companies in 2025 but more buyer skepticism, as the era of buying anything and flipping it for more money two years later has gone away.

“Three years ago, you could buy almost anything and put a few of them together and flip it two years later for more money. That's gone away.”

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