Add-On Acquisitions Dominate HVAC PE Strategy

Add-on acquisitions represent a significant portion of total deal activity in HVAC, with many platforms completing between 5 and 20 acquisitions over a short period. This reflects a shift toward building scaled enterprises through consolidation.

“Across private equity, add-on acquisitions now represent a significant portion of total deal activity. HVAC has seen a particularly high frequency of tuck-in acquisitions, with many platforms completing between 5 and 20 acquisitions over a relatively short period.”

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