top of page
hvac consolidation


HVAC Industry Consolidation Tracker

In recent years, HVAC industry consolidation has rapidly increased. IEI Advisors developed two graphs to help HVAC owners visualize and track this trend.

This Consolidation Tracker data simply scratches the surface of all that is happening in commercial and residential HVAC consolidation. 

Owners who have questions about how this trend impacts their exit plans can contact us and request a complimentary exit consultation.

Number of Active Commercial HVAC M&A Buyers
Updated July 2024

Commercial July 2024 v2.png

The initial graph presents data on the count of buyers actively seeking commercial HVAC acquisitions in the last decade. IEI defines an active buyer as a company that has acquired one commercial HVAC company and has a dedicated role for further acquisitions.

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.

Number of Active Residential HVAC M&A Buyers
Updated July 2024

Residential July 2024 v2.png

The second graph looks at residential HVAC consolidation which indicates that consolidation in residential HVAC is also driven by private equity investors.

bottom of page