Latest / The Buyout Show with Fexingo: Private Equity, Roll-Ups, and Business Acquisitions
How Private Equity Is Rolling Up Commercial HVAC Services
Episode 35 of The Buyout Show dives into the quiet but massive roll-up of commercial HVAC service companies. Lucas breaks down why PE firms are targeting this fragmented, recession-resistant industry — over 80 percent of the 50 billion dollar market is still owned by small independent operators. Through the lens of one specific platform deal, the episode explores the economics: recurring service contracts, 90 percent gross retention rates, and the opportunity to roll up mom-and-pop shops into regional powerhouses. Luna challenges whether the consolidation actually benefits customers, and they…
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