Valuations down from 2021 peak but expected to hold

Commentary notes HVAC contractor sale valuations were highest in 2021, softened in 2022-2023, but are expected to hold steady near term.

“The craziest time was in 2021, with insane money being thrown at contractors. The years 2022 and 2023 were tougher.”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.