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Market signals

Every PE/M&A signal we can find, concrete deals and the broader market mood, each pinned to a verbatim quote from its source. 1148 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

1,106 dated signals shown · 42 undated (excluded from the chart).

Market signals per year 0 125 250 2000: 4 2005: 2 2006: 8 2007: 20 2008: 43 2009: 8 2010: 23 2011: 20 2012: 10 2013: 8 2014: 14 2015: 13 2016: 53 2017: 16 2018: 18 2019: 52 2020: 82 2021: 133 2022: 233 2023: 97 2024: 91 2025: 107 2026: 51 (partial year) '00 '06 '08 '10 '12 '14 '16 '18 '20 '22 '24 '26
2026 (year to date, partial)
All Add-on acquisition 466 Consolidation trend 182 Expansion 124 Deal closed 86 Platform formation 67 Leadership change 54 Market commentary 50 Deal announced 44 Fundraise 21 Divestiture 16 Other 16 Sentiment 15 Bankruptcy 5 Deal rumored 2
Consolidation trend Mar 2022 · St. Louis, Missouri

Heartland building a multi-brand HVAC platform anchored by local brands (St. Louis / Classic Aire)

Heartland is folding Faszold into its existing St. Louis presence anchored by Classic Aire Care, illustrating a multi-brand roll-up that retains local brands while pooling collective strength.

“Faszold will partner with Heartland Home Services' other brands in the St. Louis market anchored by Classic Aire Care.”
Heartland Home Services · Platform Classic Aire Care · Subsidiary Faszold Heating and Cooling · Subsidiary
HVAC Positive
www.achrnews.com
Add-on acquisition Mar 2022 · Missouri and Cincinnati, Ohio
Verified

Heartland Home Services acquires three HVAC companies (Buckner's, Faszold, National)

Heartland Home Services announced the simultaneous acquisition of three HVAC companies: Buckner's Heating and Cooling (Kansas City, MO), Faszold Heating and Cooling (St. Louis, MO), and National Heating and Air Conditioning Company (greater Cincinnati).

“Heartland Home Services announced the acquisition of three HVAC companies: Buckner's Heating and Cooling in Kansas City, Missouri;”
Heartland Home Services · Acquirer Buckner's Heating and Cooling · Target Faszold Heating and Cooling · Target National Heating and Air Conditioning Company · Target
HVAC
www.achrnews.com
Expansion Mar 2022 · Hudson Valley, New York, USA

Sila accelerates growth in expanding Hudson Valley market

Sila CEO Jason Rabbino frames the Heckeroth acquisition as accelerating growth and serving the expanding Hudson Valley market.

“Bringing the highly skilled team from Heckeroth on board will allow us to accelerate our growth and better serve the growing needs of homeowners and businesses in this expanding market," said Jason Rabbino, CEO of Sila Services, LLC.”
Sila Services · Platform Heckeroth Plumbing & Heating · Target
HVACPlumbing
www.achrnews.com
Add-on acquisition Mar 2022 · Western New York, USA

Sila Services acquires T-Mark Plumbing, Heating, Cooling & Electric (western NY)

A photo caption states Sila Services has acquired T-Mark Plumbing, Heating, Cooling & Electric, a company in western New York — a separate add-on referenced alongside the Heckeroth deal.

“Sila Services has acquired T-Mark Plumbing, Heating, Cooling & Electric, a company in western New York.”
Sila Services · Acquirer T-Mark Plumbing, Heating, Cooling & Electric · Target
ElectricalHVACPlumbing
www.achrnews.com
Add-on acquisition Mar 2022 · Highland / Hudson Valley, New York, USA
Verified

Sila Services acquires Heckeroth Plumbing & Heating (Hudson Valley)

Sila Services acquired Heckeroth Plumbing & Heating of Highland, New York, adding to its growing presence in the Hudson Valley region.

“Sila Services, LLC has acquired Heckeroth Plumbing & Heating, adding to its growing presence in the Hudson Valley region of New York.”
Sila Services · Acquirer Heckeroth Plumbing & Heating · Target
ElectricalHVACPlumbing
www.achrnews.com
Add-on acquisition Mar 2022 · Highland / Hudson Valley, New York, USA
Verified

Sila Services acquires Heckeroth Plumbing & Heating

Sila Services, LLC acquired Heckeroth Plumbing & Heating of Highland, New York, expanding its presence in the Hudson Valley region. Heckeroth offers heating, cooling, plumbing, electrical, and water-treatment services.

“Sila Services, LLC has acquired Heckeroth Plumbing & Heating, adding to its growing presence in the Hudson Valley region of New York. Based in Highland, New York, Heckeroth Plumbing & Heating has over 45 years of experience in providing residential and commercial services, specializing in custom repair, maintenance, and installation for heating, cooling, plumbing, electrical, and water treatment needs.”
Sila Services · Acquirer Heckeroth Plumbing & Heating · Target
ElectricalHVACPlumbing
www.achrnews.com
Add-on acquisition Mar 2022 · Vancouver Island, BC, Canada
Verified

Right Time acquires 360 Super Techs (12th acquisition)

Gryphon Investors-backed Right Time Group of Companies acquired 360 Super Techs of Vancouver Island, BC (encompassing 360 Comfort Systems and The Super Plumber), its twelfth acquisition, supporting western Canadian expansion.

“Right Time Group of Companies announced it is continuing its western expansion with the acquisitions of 360 Super Techs and The”
ElectricalHVACPlumbing
www.achrnews.com
Add-on acquisition Mar 2022 · Vancouver Island, British Columbia, Canada
Verified

Right Time Group acquires 360 Super Techs (12th acquisition)

Right Time Group of Companies acquired 360 Super Techs (360 Comfort Systems and The Super Plumber) of Vancouver Island, BC, its twelfth acquisition, as part of western Canadian expansion.

“360 Super Techs of Vancouver Island is the twelfth acquisition completed by Right Time.”
ElectricalHVACPlumbing
www.achrnews.com
Expansion Feb 2022 · United States
Verified

Air Pros USA expands national footprint to seven states

With the Doug's Service Company deal, its first in Louisiana, Air Pros USA grows to operations in seven states and more than a dozen metro areas, totaling 450+ vehicles and 500 technicians.

“Its first acquisition in Louisiana, Air Pros USA will now operate in seven states and more than a dozen metro areas including Miami, Orlando, Dallas, Atlanta, Colorado Springs, Mobile, and Spokane.”
HVAC
www.achrnews.com
Add-on acquisition Feb 2022 · Thibodaux, LA
Verified

Air Pros USA acquires Doug's Service Company (LA expansion)

Fort Lauderdale-based Air Pros USA acquired Doug's Service Company, an HVAC and home services business in Lafourche Parish, Louisiana, its first acquisition in the state.

“Fort Lauderdale-based Air Pros USA announced the acquisition of Doug’s Service Company, an HVAC and home services business that has been serving home and business owners in Lafourche Parish, Louisiana since 1988.”
Air Pros USA · Acquirer Doug’s Service Company · Target
ElectricalHVACPlumbingRefrigeration
www.achrnews.com
Expansion Feb 2022 · USA
Verified

Air Pros USA national footprint expands to multiple states and metros

The acquisition expands Air Pros USA's national footprint to over 450 vehicles, 500 staff, and roughly half a million customers across multiple states and metros.

“Its first acquisition in Louisiana, Air Pros USA will now operate in seven states and more than a dozen metro areas including Miami, Orlando, Dallas, Atlanta, Colorado Springs, Mobile, and Spokane.”
Add-on acquisition Feb 2022 · Lafourche Parish, Louisiana, USA
Verified

Air Pros USA acquires Doug's Service Company, entering Louisiana

Fort Lauderdale-based Air Pros USA acquired Doug's Service Company of Lafourche Parish, Louisiana (HVAC, plumbing, electrical, refrigeration), its first Louisiana acquisition and eighth-state expansion.

“Fort Lauderdale-based Air Pros USA announced the acquisition of Doug’s Service Company, an HVAC and home services business that has been serving home and business owners in Lafourche Parish, Louisiana since 1988.”
Air Pros USA · Acquirer Doug’s Service Company · Target
ElectricalHVACPlumbingRefrigeration
www.achrnews.com
Add-on acquisition Feb 2022 · Oregon and Idaho
Verified

The SEER Group acquires First Call Heating & Cooling and Gropp Heating, Air & Electric

The SEER Group LLC announced acquisitions of First Call Heating & Cooling (Oregon City, OR) and Gropp Heating, Air, & Electric (Moscow, ID), bringing its family to 22 brands.

“The SEER Group LLC announced its acquisitions of First Call Heating & Cooling located in Oregon City, Oregon, and Gropp Heating, Air, & Electric located in Moscow, Idaho. There are now 22 brands in The SEER Group LLC family.”
The SEER Group · Acquirer First Call Heating & Cooling · Target Gropp Heating, Air, & Electric · Target
ElectricalHVAC
www.achrnews.com
Add-on acquisition Feb 2022 · Oregon / Idaho
Verified

The SEER Group acquires First Call Heating & Cooling and Gropp Heating, Air, & Electric

The SEER Group LLC announced two acquisitions: First Call Heating & Cooling (Oregon City, OR) and Gropp Heating, Air, & Electric (Moscow, ID), bringing its family to 22 brands.

“The SEER Group LLC announced its acquisitions of First Call Heating & Cooling located in Oregon City, Oregon, and Gropp Heating, Air, & Electric located in Moscow, Idaho. There are now 22 brands in The SEER Group LLC family.”
The SEER Group · Acquirer First Call Heating & Cooling · Target Gropp Heating, Air, & Electric · Target
ElectricalHVAC
www.achrnews.com
Add-on acquisition Jan 2022 · Western New York, USA

Sila Services acquires T-Mark Plumbing, Heating, Cooling & Electric

An image caption in the article states Sila Services acquired T-Mark Plumbing, Heating, Cooling & Electric, a company in western New York, indicating an additional add-on acquisition by the Sila platform.

“Sila Services has acquired T-Mark Plumbing, Heating, Cooling & Electric, a company in western New York.”
Sila Services · Acquirer T-Mark Plumbing, Heating, Cooling & Electric · Target
ElectricalHVACPlumbing
www.achrnews.com
Add-on acquisition Jan 2022 · Boston / New England, USA
Verified

Sila Services acquires Boston Standard Company and New England Ductless

Sila Services, an HVAC/plumbing roll-up platform, acquired Boston Standard Company and New England Ductless (both Massachusetts), expanding its presence in the New England region.

“Sila Services, LLC has acquired Boston Standard Company and New England Ductless, adding to its rapidly growing”
Sila Services · Acquirer Boston Standard Company · Target New England Ductless · Target
HVACPlumbing
www.achrnews.com
Add-on acquisition Jan 2022 · Boston / New England
Verified

Sila Services acquires Boston Standard Company and New England Ductless

Sila Services, LLC acquired Boston Standard Company (Mattapan, MA) and New England Ductless (Milton, MA), both plumbing/heating/cooling businesses, expanding its presence in the New England region.

“Sila Services, LLC has acquired Boston Standard Company and New England Ductless, adding to its rapidly growing presence in the New England Region.”
Sila Services · Acquirer Boston Standard Company · Target New England Ductless · Target
HVACPlumbing
www.achrnews.com
Add-on acquisition Jan 2022 · Tecumseh, Ontario, Canada
Verified

Enercare acquires Syles Mechanical Services

Enercare, one of North America's largest residential and commercial HVAC/plumbing service companies, acquired Syles Mechanical Services in Tecumseh, Ontario, expanding its Southwestern Ontario presence by 55+ employees and 30 vehicles.

“Enercare has acquired [Syles Mechanical Services](https://www.syles.ca/), a residential and commercial services provider located in Tecumseh, Ontario.”
ElectricalHVACPlumbing
www.hpacmag.com
Consolidation trend Jan 2022 · USA

TurnPoint continues seeking acquisition partnerships

TurnPoint stated it continues to pursue partnerships with owners of high-performing service businesses, signaling ongoing roll-up acquisition intent.

“TurnPoint continues to search for partnerships with owners of high-performing service businesses that possess strong brand equity and shared values, with the goal of making them even stronger.”
ElectricalHVACPlumbing
www.achrnews.com
Consolidation trend Jan 2022 · USA (28 states)
Verified

TurnPoint Services completes 21 acquisitions in 2021, doubling platform

TurnPoint Services Group completed 21 acquisitions during 2021, more than doubling its platform and now operating 40 branded service companies across 28 states in HVAC, plumbing, and electrical.

“TurnPoint Services Group announced the completion of 21 acquisitions over the course of 2021, more than doubling the TurnPoint platform. TurnPoint now operates 40 individually branded and locally managed service companies in 28 states from coast to coast.”
ElectricalHVACPlumbing
www.achrnews.com
Consolidation trend Jan 2022 · United States
Verified

TurnPoint doubled platform size for fourth consecutive year

TurnPoint says it more than doubled platform size for a fourth consecutive year through organic growth and strategic acquisitions, and continues to seek partnerships with high-performing service business owners.

“For the fourth consecutive year, we more than doubled the size of the TurnPoint platform through a combination of double-digit organic growth and strategic acquisitions.”
ElectricalHVACPlumbing
www.achrnews.com
Consolidation trend Jan 2022 · 28 states (United States)
Verified

TurnPoint Services completes 21 acquisitions in 2021, doubling platform

TurnPoint Services Group completed 21 acquisitions in 2021, more than doubling its platform, and now operates 40 branded service companies in 28 states providing heating, cooling, plumbing, and electrical services.

“TurnPoint Services Group announced the completion of 21 acquisitions over the course of 2021, more than doubling the TurnPoint platform. TurnPoint now operates 40 individually branded and locally managed service companies in 28 states from coast to coast.”
ElectricalHVACPlumbing
www.achrnews.com
Consolidation trend Dec 2021 · California, USA

The SEER Group continuing national HVAC roll-up expansion

SEER Group's CEO framed the Aladdin deal as part of an ongoing expansion of its footprint in California and other markets nationally, signaling continued roll-up activity.

“Wayne and the Aladdin team have built a wonderful brand, and we look forward to partnering with them as we continue to expand our footprint in California and other markets across the nation.”
HVAC
www.achrnews.com
Add-on acquisition Dec 2021 · Newbury Park, California, USA
Verified

The SEER Group acquires majority stake in Aladdin Air Conditioning & Heating

The SEER Group, an HVAC roll-up platform, acquired a majority stake in Aladdin Air Conditioning & Heating of Newbury Park, California. It was SEER Group's 20th acquisition overall and 7th of the year.

“The SEER Group LLC announced its twentieth acquisition, a majority stake in Aladdin Air Conditioning & Heating Inc., in Newbury Park, California. This is the seventh acquisition for The SEER Group this year.”
The SEER Group · Acquirer Aladdin Air Conditioning & Heating Inc. · Target
HVAC
www.achrnews.com
Add-on acquisition Dec 2021 · Newbury Park, California
Verified

The SEER Group acquires majority stake in Aladdin Air Conditioning & Heating

The SEER Group LLC acquired a majority stake in Aladdin Air Conditioning & Heating Inc. of Newbury Park, California. It is described as SEER's twentieth acquisition overall and seventh this year.

“The SEER Group LLC announced its twentieth acquisition, a majority stake in Aladdin Air Conditioning & Heating Inc., in Newbury Park, California. This is the seventh acquisition for The SEER Group this year.”
The SEER Group · Acquirer Aladdin Air Conditioning & Heating Inc. · Target
Add-on acquisition Dec 2021 · Barrie, Ontario, Canada
Verified

Right Time Group acquires Climate Air Heating & Air Conditioning (Ontario)

Canadian residential HVAC roll-up Right Time Group of Companies acquired Climate Air Heating & Air Conditioning of Barrie, Ontario, its eleventh acquisition. Terms were not disclosed.

“Right Time Group of Companies (Right Time) announced the acquisition of Climate Air Heating & Air Conditioning.”
Right Time Group of Companies · Acquirer Climate Air Heating & Air Conditioning · Target
HVAC
www.achrnews.com
Add-on acquisition Dec 2021 · Barrie, Ontario, Canada
Verified

Right Time Group acquires Climate Air Heating & Air Conditioning (11th deal)

Canada's Right Time Group of Companies acquired Climate Air Heating & Air Conditioning, a residential HVAC company in Barrie, Ontario. It is the eleventh acquisition completed by Right Time. Terms were not disclosed.

“Right Time Group of Companies (Right Time) announced the acquisition of Climate Air Heating & Air Conditioning.”
Right Time Group of Companies · Acquirer Climate Air Heating & Air Conditioning · Target
Add-on acquisition Dec 2021 · Columbus, OH
Verified

Wrench Group acquires Buckeye Heating & Cooling (Columbus)

PE-backed home-services platform Wrench Group acquired Columbus-area HVAC contractor Buckeye Heating & Cooling, its 24th brand and 18th market nationwide; Buckeye will operate under the Williams Comfort Air banner. Terms were not disclosed.

“Worthington, Ohio-based Buckeye becomes the 24”
Wrench Group · Acquirer Buckeye Heating & Cooling · Target Williams Comfort Air · Subsidiary
HVAC
www.achrnews.com
Consolidation trend Dec 2021 · USA
Verified

Wrench Group added 14 home-services brands since March 2020

Buckeye is Wrench's 24th brand and 18th market; Wrench has added 14 home services brands since March 2020, underscoring an aggressive roll-up pace.

“Worthington, Ohio-based Buckeye becomes the 24 th  company in the Wrench family of brands and represents Wrench’s expansion into its 18 th market nationwide and its fourth market in the Midwest. Wrench has now added 14 home services brands to its roster since March, 2020.”
Add-on acquisition Dec 2021 · Columbus, Ohio, USA
Verified

Wrench Group acquires Buckeye Heating & Cooling (24th brand)

Wrench Group acquired Buckeye Heating & Cooling in Columbus, Ohio, making it the 24th company in the Wrench family of brands and Wrench's expansion into its 18th market nationwide; Buckeye will operate under the Williams Comfort Air banner.

“Wrench Group, LLC (“Wrench”) announced it has acquired Buckeye Heating & Cooling (“Buckeye”), a provider of air conditioning and heating services in the Columbus area since 1948.”
Wrench Group · Acquirer Buckeye Heating & Cooling · Target Williams Comfort Air · Platform
Add-on acquisition Nov 2021 · Northeast and Mid-Atlantic U.S.
Verified

CoolSys acquires Triangle Refrigeration, expanding Northeast/Mid-Atlantic footprint

CoolSys, a national refrigeration/HVAC/energy services platform, acquired Triangle Refrigeration, a commercial HVAC, refrigeration, plumbing and monitoring services provider across PA, MD, NJ and NY, building on prior regional acquisitions.

“CoolSys™, a refrigeration, HVAC, engineering, and energy solutions company, acquired Triangle Refrigeration, a provider of commercial HVAC, refrigeration, plumbing, and monitoring services in Pennsylvania, Maryland, New Jersey, and New York. With this acquisition, CoolSys expands its market presence throughout the Northeast and Mid-Atlantic regions, complementing service coverage areas strengthened by prior acquisitions in those regions.”
HVACPlumbingRefrigeration
www.achrnews.com
Add-on acquisition Nov 2021 · Northeast and Mid-Atlantic U.S. (PA, MD, NJ, NY)
Verified

CoolSys acquires Triangle Refrigeration

CoolSys, a refrigeration/HVAC/energy solutions consolidator, acquired Triangle Refrigeration to expand its presence in the Northeast and Mid-Atlantic, complementing prior regional acquisitions.

“CoolSys™, a refrigeration, HVAC, engineering, and energy solutions company, acquired Triangle Refrigeration, a provider of commercial HVAC, refrigeration, plumbing, and monitoring services in Pennsylvania, Maryland, New Jersey, and New York. With this acquisition, CoolSys expands its market presence throughout the Northeast and Mid-Atlantic regions, complementing service coverage areas strengthened by prior acquisitions in those regions.”
HVACPlumbingRefrigeration
www.achrnews.com
Sentiment Nov 2021 · California

Acquired-owner cites HVAC uncertainty and overhead pressure as reason to partner with a roll-up

Brower Mechanical's GM Duane Knickerbocker says he sought a partner to help manage and lower overhead amid uncertainty in the HVAC world, reflecting owner sentiment driving sell-side roll-up activity.

““With all of the uncertainty in the HVAC world, I was looking to partner with a company that could help manage and hopefully lower our overhead,” says Brower Mechanical GM, Duane Knickerbocker.”
The SEER Group · Platform Brower Mechanical · Target
HVAC
www.achrnews.com
Add-on acquisition Nov 2021 · Rocklin / Sacramento region, California
Verified

The SEER Group acquires majority stake in Brower Mechanical — 17th acquisition, 2nd in California

The SEER Group LLC announced its seventeenth acquisition, taking a majority stake in Brower Mechanical of Rocklin, CA. It is the platform's second California acquisition (after Breeze Air Conditioning in 2018), with founder Duane Knickerbocker staying on as partner/GM.

“The SEER Group LLC announced Nov. 11 its seventeenth acquisition, a majority stake in Brower Mechanical in Rocklin, CA. This is the second acquisition for The SEER Group LLC in California after its acquisition of Breeze Air Conditioning in Palm Desert, CA in 2018.”
The SEER Group · Platform Breeze Air Conditioning · Mentioned Brower Mechanical · Target Darrin Erdahl · Mentioned Duane Knickerbocker · Mentioned Eric Beardemphl · Mentioned
HVAC
www.achrnews.com
Add-on acquisition Nov 2021 · Rocklin, California
Verified

The SEER Group acquires majority stake in Brower Mechanical

The SEER Group LLC announced its seventeenth acquisition, a majority stake in Brower Mechanical of Rocklin, CA, its second acquisition in California, with founder leadership retained.

“The SEER Group LLC announced Nov. 11 its seventeenth acquisition, a majority stake in Brower Mechanical in Rocklin, CA. This is the second acquisition for The SEER Group LLC in California after its acquisition of Breeze Air Conditioning in Palm Desert, CA in 2018.”
The SEER Group · Acquirer Breeze Air Conditioning · Mentioned Brower Mechanical · Target
Add-on acquisition Nov 2021 · Northeast and Mid-Atlantic U.S.
Verified

CoolSys acquires Triangle Refrigeration, expanding in Northeast/Mid-Atlantic

Refrigeration and HVAC services consolidator CoolSys acquired Leola, PA-based Triangle Refrigeration, a commercial HVAC/refrigeration/plumbing/monitoring provider, expanding CoolSys's presence in the Northeast and Mid-Atlantic.

“CoolSys announced Nov.10 it has acquired Triangle Refrigeration, a provider of commercial HVAC, refrigeration, plumbing, and monitoring services in Pennsylvania, Maryland, New Jersey, and New York.”
HVACPlumbingRefrigeration
www.achrnews.com