Private Equity Surge in HVAC Services

The HVAC service industry has become a hot target for private equity investors, with the number of buyers tripling over the past five years. PE firms are attracted by stable cash flows and other favorable industry characteristics.

“Surprisingly, the HVAC (Heating, Ventilation, and Air Conditioning) service industry has recently become a hot target for private equity (PE) investors. Five years ago, there were only a limited universe of buyers interested in these businesses. Today, the interest has exploded, with three times as many buyers vying for a piece of the action.”

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