Positive outlook for contractors who retained equity in PE deals

HVAC contractors who sold to private equity but retained some equity in the business stand to benefit from the upcoming wave of platform exits. The 'second check' from a subsequent sale to upper-market PE could provide a significant additional payout, making the initial deal structure critically important.

“This is good news for the HVAC contractors that have sold to private equity in the recent past while still maintaining some equity in the business. This is a great opportunity to fully cash out and ride off into the sunset.”

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