PE holds ~$10B of ~$130B HVAC market; 80%+ still mom-and-pops

Per Wrench Group's CEO, despite recent acquisition activity, private equity holds only about $10 billion of an estimated $130 billion market, with 80%+ still represented by mom-and-pop operators, signaling large remaining consolidation runway.

“PE, Haines said, has helped professionalize HVAC service businesses, but, despite the flurry of acquisitions in the last few years still only holds about $10 billion of an estimated $130 billion market.”

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