HVAC buyers increasingly bankers, private equity groups, and outsiders with no trade experience

Broker Patrick Lange notes that at least half of his HVAC company buyers have no heating-and-air experience and many are bankers, private equity groups, and insurance agents from other trades.

“I've been selling these companies, many of them are bankers, private equity groups, insurance agents, from all sorts of different trades.”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.