HVAC M&A Activity Surges 4x Over Last Decade

M&A deals in the HVAC industry have increased by almost 4x in the last 10 years, and 2026 is on pace to be another strong year. Strategic buyers have driven the majority of the activity, but financial sponsors are also active in the space.

“M&A deals in the HVAC industry have increased by almost 4x in the last 10 years, and 2026 is on pace to be another strong year. Strategic buyers have driven the majority of the activity, but financial sponsors are also active in the space.”

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