It was about three years ago when private equity zeroed in on HVAC contracting. Jacques Zureikat of Houlihan Capital called it “the perfect storm.” COVID created uncertainty, which turned the attention of private equity companies to more recession-resistant, stable, and resilient businesses such as those in HVAC. It doesn’t matter what the economy looks like, people need heat and they need a/c. And private equity companies caught on to that. As for the state of HVAC mergers and acquisitions as we head into 2025, there are three key things to know. For starters, private equity’s peak interest in HVAC is behind us. Secondly, many of the mid-size HVAC companies have already been bought up. But for those small independent HVAC businesses, sales remain nimble. Lastly, the market to sell an HVAC business will stay strong in 2025, but, expect more scrutiny from buyers than in the past.
HVAC Mergers & Acquisitions Market in 2025
An HVAC Minute Video Update: December 5, 2024
