HVAC M&A reached 149 transactions YTD 2025, up 12.9% YoY

Industry-wide HVAC services M&A reached 149 transactions year-to-date in 2025, a 12.9% increase year over year, according to Capstone Partners.

“Industry-wide HVAC services M&A reached 149 transactions year-to-date in 2025, up 12.9 percent year over year, via CT Acquisitions citing Capstone Partners”

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