Latest / The Buyout Show with Fexingo: Private Equity, Roll-Ups, and Business Acquisitions
How Private Equity Is Buying Up HVAC Companies
In this episode of The Buyout Show, Lucas and Luna break down the private equity roll-up wave in the HVAC industry. With over 10,000 small mom-and-pop contractors across the U.S., PE firms are consolidating them into regional platforms like Service Champions and ARS/Rescue Rooter. They discuss the economics of the 'recurring service revenue' model, how multiples have climbed from 4x to 8x EBITDA over the past decade, and why the fragmentation of the trades makes HVAC a perfect target for roll-ups. Lucas explains the two acquisition strategies: 'tuck-in' versus…
The skinny
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