Fragmented HVAC services market attracts PE-backed buy-and-build

Capstone explains that the fragmented HVAC services market, with many small local businesses, is highly attractive to deep-pocketed financial firms, with new PE-backed players continuing to enter the market to execute buy-and-build strategies.

“the fact that you see new players who are backed by private equity largely continuing to enter the market to do it, I'd say also indicates to me that we've still got a ways to go.”

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