PE Roll-Up Trend in HVAC

The article describes a significant trend of private equity firms acquiring HVAC companies and consolidating them into larger platforms. It notes that PE ownership has become common, with thousands of owners selling in the last five years, and details the typical roll-up process where a PE firm acquires 5-10 other HVAC companies and integrates them into a platform over 2-3 years.

“In the last five years, thousands of HVAC business owners have sold to private equity firms. The trend is unmistakable. What started as a trickle in 2018 has become a flood. Today, PE ownership of HVAC companies is so common that most HVAC technicians have already worked for a PE-backed platform.”

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