Consolidation cascades from manufacturers to distributors to installers

Guest argues PE ownership is concentrated at the manufacturer/distributor level (four big conglomerates) and that consolidation eventually flows down to the installer level, citing the same pattern that played out in HVAC and roofing.

“They're all very heavily PE -owned. There's four big conglomerates that run most of the manufacturing and distribution. And so that's the same thing that happened in HVAC and in roofing. It eventually goes down from the manufacturers to the distributors, and then eventually to the installers.”

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