PE holds ~$10B of ~$130B HVAC market dominated by mom-and-pops

Despite the acquisition flurry, PE still holds only about $10 billion of an estimated $130 billion HVAC market, with 80%+ still represented by mom-and-pop firms, signaling a long 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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