Why PE loves HVAC: recurring revenue, fragmentation, margin/roll-up upside

The host explains PE attraction to HVAC: recurring maintenance-contract revenue, treatment as a recession-resistant essential service, a fragmented market suited to roll-ups, and margin-improvement opportunities (COGS via manufacturer deals, labor cost reduction).

“It's fragmented, so classic roll -up opportunity. They look at HVAC companies and immediately see chances to save margin or to improve margins.”

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