Commercial mechanical platforms trade at premium multiples to residential roll-ups

Commercial mechanical platforms like EMCOR and Comfort Systems USA trade at premium multiples compared to residential roll-ups, driven by data center construction tailwinds and multi-year mechanical service contracts.

“Commercial mechanical platforms (EMCOR, Comfort Systems USA, PremiStar, Crete United, FirstCall Mechanical, Astra Service Partners, Modigent, United Building Solutions) trade at premium multiples to residential roll-ups.”

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