HVAC M&A 2025 recap: PE peak interest behind us, mid-size already bought up

A video update recapping the HVAC M&A outlook into 2025: private equity's peak interest is behind us, many mid-size HVAC companies have already been bought up, but small independent businesses still sell, with more buyer scrutiny expected.

“For starters, private equity’s peak interest in HVAC is behind us. Secondly, many of the mid-size HVAC companies have already been bought up. But for those small independent HVAC businesses, sales remain nimble. Lastly, the market to sell an HVAC business will stay strong in 2025, but, expect more scrutiny from buyers than in the past.”

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