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HVAC Industry Consolidation Tracker
Updated Quarterly
The pace of HVAC industry consolidation grew quickly over the past few years. To help HVAC owners visualize and track this consolidation trend, IEI Advisors developed two graphs tracking the number of aggressive commercial and residential HVAC buyers.
The first graph displays data on the number of buyers aggressively pursuing commercial HVAC acquisitions over the past decade. IEI defines an aggressive buyer as any company that has already purchased one commercial HVAC company and has someone in a role dedicated to making additional acquisitions. Our Blog has a more detailed breakdown on who these companies are and what sparked their interest in buying commercial HVAC companies.

As the first graph shows, commercial consolidation is primarily driven by private equity investors. Typically, private equity investors purchase a large HVAC company and use that business as their "platform" to acquire other companies in the industry.
The second graph looks at residential HVAC consolidation which indicates that consolidation in residential HVAC is also driven by private equity investors.

This Consolidation Tracker data simple scratches the surface of all that is happening in commercial and residential HVAC consolidation. Owners that have questions about how this trend impacts their exit plans can Contact IEI and request a complimentary exit consultation and review of the consolidation tracker data.