Every PE/M&A signal we can find, concrete deals and the broader market mood, each pinned to a
verbatim quote from its source. 1670 signals in the record.
Signals are reports drawn from public coverage and print archives, presented as reported by their
sources. Naming a company in a signal is not an accusation against it. See our methodology and legal notes.
Signal volume over time
1,577 dated signals shown · 93 undated (excluded from the chart).
Flow Service Partners, backed by Quad-C Management, acquired Altman Air Conditioning to complement its existing Florida business. Altman is a commercial HVAC and mechanical services provider founded in 1985.
“Flow Service Partners, backed by Quad-C Management, acquired Altman Air Conditioning, a commercial HVAC and mechanical services provider founded in 1985, complementing its existing Florida business.”
The acquisition supports Southern Home Services' strategy of strengthening its established Centers through complementary local partnerships. Presidential is part of the Southern Home Services network and benefits from shared resources while remaining locally focused.
“The acquisition supports Southern Home Services’ strategy of strengthening its established Centers through complementary local partnerships. Presidential is part of the Southern Home Services network and benefits from shared resources, training and operational support while remaining focused on the needs of its local community.”
Presidential Heating & Air Conditioning announced the acquisition of Shipley Plumbing, Heating & Air Conditioning, effective August 24, 2026. The deal expands Presidential's service offerings to include plumbing and whole-home services in Montgomery County.
“Presidential Heating & Air Conditioning, a trusted home-comfort provider serving Montgomery County and the surrounding communities, today announced the acquisition of Shipley Plumbing, Heating & Air Conditioning, effective August 24, 2026.”
Presidential Heating & Air Conditioning has completed the acquisition of Shipley Plumbing, Heating & Air Conditioning, effective August 24, 2026. The deal expands Presidential's service offerings to include plumbing in Montgomery County and aligns with Southern Home Services' strategy of strengthening local centers through complementary partnerships.
“Presidential Heating & Air Conditioning has acquired Shipley Plumbing, Heating & Air Conditioning, effective August 24, 2026, expanding its home-comfort services across Montgomery County and surrounding communities.”
Go Lime Inc. has acquired the Cobourg, Ontario-based HVAC company Comfort Zone Heating & Air Conditioning. The acquisition is part of a broader strategy to expand across Canada through investments in local home and commercial services businesses.
“Go Lime Inc. has acquired Cobourg, ON-based Comfort Zone Heating & Air Conditioning.”
Toronto-based Go Lime announced the acquisition of Cobourg, Ontario-based Comfort Zone Heating & Air Conditioning. This is Go Lime's first acquisition of 2026 and part of a planned series of investments in local Canadian HVAC businesses.
“With stated intentions of expanding across the Canada, both organically and through acquisition, Toronto-based residential HVAC home services company Go Lime has announced its first acquisition of 2026 with the addition of Cobourg, Ontario-based Comfort Zone Heating & Air Conditioning.”
Rocket Group has announced a partnership with Encore Heating and Air, marking its first entry into the Upper Midwest. The deal expands Rocket's national home services network into Minnesota, specifically the greater Minneapolis-St. Paul area.
“Rocket Group has expanded its national home services network into Minnesota through a partnership with Encore Heating and Air, marking the company's first entry into the Upper Midwest.”
Service Experts East Bay, a local HVAC and plumbing provider since 1973, has joined the national Service Experts network.
“Service Experts East Bay is thrilled to join the Service Experts family, combining over 50 years of local experience with a trusted national brand serving communities since 1996.”
The acquisition and rebranding of Eastern Refrigeration by CoolSys illustrates ongoing consolidation in commercial HVAC and refrigeration services in the Northeast.
“Several years ago, CoolSys acquired Eastern Refrigeration, a recognized industry leader, **serving Connecticut, Rhode Island, and Massachusetts** since 1975.”
Eastern Refrigeration has fully transitioned to the CoolSys brand, operating as a single unified organization after being acquired several years ago.
“Now, we’re pleased to announce **Eastern Refrigeration’s full integration into the CoolSys brand**, which boasts over 25 years of nationwide industry leadership.”
Service Logic acquired CustomAir, a mechanical service provider in British Columbia, Canada, from private equity firm CAI Capital Partners. This marks Service Logic's first transaction in Canada and its fourth in the business services sector.
“On July 14, 2026, Service Logic acquired business services company CustomAir from CAI Capital Partners”
Roughly two dozen active PE-backed platforms are buying HVAC, plumbing, or multi-trade operators, with add-on acquisition activity in HVAC services rising an estimated 88% year-over-year through mid-2025.
“Roughly two dozen active PE-backed platforms — names like Apex Service Partners, Wrench Group, Sila Services, and Champions Group among them — are actively buying HVAC, plumbing, or multi-trade operators across the country, and add-on acquisition activity in HVAC services alone rose an estimated 88% year-over-year through mid-2025.”
Swedish contracting group Nordic Climate has acquired Poole-based Meridian Cooling to strengthen its position in the South of England. The acquisition adds air conditioning, ventilation, and heat pump capabilities to Nordic Climate's growing UK platform.
“UK: Swedish contracting group Nordic Climate is continuing to make inroads into the UK with the acquisition of Poole-based Meridian Cooling.”
Following the transaction with Redwood Services, Justin Hendrick will continue to lead the day-to-day operations of Hendrick Heat, Air & Plumbing, maintaining local leadership and operating culture.
“Justin Hendrick will continue leading Hendrick's day-to-day operations following the transaction, maintaining the company's local leadership and operating culture.”
Redwood Services has entered the Oklahoma market by acquiring a partnership in Tulsa-based Hendrick Heat, Air & Plumbing. This is Redwood's first investment in Oklahoma and adds Hendrick to its network of over 20 partner companies.
“Redwood Services has expanded into Oklahoma through a partnership with Hendrick Heat, Air & Plumbing, a residential HVAC and plumbing contractor based in Tulsa.
The agreement marks Redwood's first investment in Oklahoma and adds Hendrick to its network of more than 20 essential home services Partner Companies.”
Residential service platforms such as Champions Group, Sila Services, Redwood Services, and Apex Service Partners have completed major capital table transactions in the past 18 months, with platform-level multiples in the mid-to-high teens.
“On the residential side, platforms including Champions Group, Sila Services, Redwood Services, and Apex Service Partners have completed major cap-table transactions in the past 18 months, with platform-level multiples tracking in the mid-to-high teens.”
PE-backed consolidators including Crete United, CoolSys, and Climate Pros are actively acquiring commercial HVAC and MEP contractors, driven by recurring service contracts and tailwinds from data center and healthcare end markets.
“PE-backed consolidators such as Crete United (backed by Ridgemont Equity Partners), CoolSys, and Climate Pros are actively rolling up commercial HVAC and MEP contractors, drawn by recurring service contracts, data center and healthcare end-market tailwinds, and fragmented regional ownership.”
Nordic Climate Group has acquired Northern Refrigeration Services, a Donegal-based specialist in refrigeration and heat pumps. The target will continue to operate under its existing brand and leadership as part of the Nordic Climate Group.
“IRELAND: Nordic Climate continues to grow in Ireland through the acquisition of Northern Refrigeration Services, a Donegal-based specialist in refrigeration, heat pumps and heating solutions.”
Nordic Climate continues its expansion in Ireland by acquiring Northern Refrigeration Services, a Donegal-based specialist in refrigeration, heat pumps, and heating solutions.
“IRELAND: Nordic Climate continues to grow in Ireland through the acquisition of Northern Refrigeration Services, a Donegal-based specialist in refrigeration, heat pumps and heating solutions.”
“Redwood Services... today announced its partnership with Hendrick Heat, Air & Plumbing, a leading residential HVAC and plumbing provider based in Tulsa, Oklahoma.”
Sila Services / Davis Heating and Air Conditioning Company
“Sila Services, LLC, a leading home services platform, today announced its expansion into Western Virginia through the acquisition of Davis Heating and Air Conditioning Company”
Comfort Systems USA and EMCOR Group, both public mechanical contractors benefiting from the data center and advanced manufacturing construction boom, follow with 48 and 34 acquisitions, respectively.
“Comfort Systems USA and EMCOR Group, both public mechanical contractors benefiting from the data center and advanced manufacturing construction boom, follow with 48 and 34 acquisitions, respectively.”
The HVAC services sector is experiencing an accelerating wave of sponsor-to-sponsor transactions since 2024, characterized by premium institutional multiples. Recent deals include Blackstone's acquisition of Champions Group and Apollo's investment in Apex Service Partners.
“MSouth launching a sale process for USA Hometown Experts places the company squarely in the accelerating wave of sponsor-to-sponsor transactions that have defined the HVAC services sector since 2024. Recent platform-level deals include Blackstone's acquisition of Champions Group at approximately $2.5 billion and roughly 18.5 times EBITDA in February 2026, Apollo's $2 billion minority investment in Apex Service Partners at a $10 billion total valuation in May 2026, Bain Capital and Mubadala's acquisition of Service Logic from Leonard Green, and Goldman Sachs Alternatives' acquisition of Sila Services from Morgan Stanley Capital Partners at approximately $1.5 to $1.7 billion.”
Thermogenics Inc. has completed the acquisition of Prime Boiler Services, a boiler lifecycle solutions provider based in Red Deer, Alberta. This move expands Thermogenics' presence into Western Canada, specifically Alberta, BC, and Saskatchewan.
“Thermogenics Inc. has acquired Prime Boiler Services, a Red Deer, AB-based provider of comprehensive boiler lifecycle solutions.
The move establishes Thermogenics’ presence in Alberta, BC and Saskatchewan, and increases its technical workforce and specialized engineering capabilities.”
Thermogenics, a provider of boiler lifecycle solutions in North America, announced a corporate activity likely involving an acquisition or expansion, though the specific target is not named in the snippet.
“AURORA, ON, June 25, 2026 /CNW/ - Thermogenics, the premier provider of comprehensive Boiler Lifecycle Solutions in North America, announced its...”
Adoption of Avoca AI by PE-backed home service rollups like Authority Brands and Apex Service Partners signals rigorous procurement standards in the sector.
“The Apex/Authority Brands logos specifically signal that PE-backed home service rollups have evaluated and adopted Avoca”
