HVAC & Mechanical Acquisitions in 2026

Green Heron Partners, a Houston-based lower middle market private equity firm, announced a strategic growth investment in Regency Plumbing Contractors, a commercial plumbing contractor serving the Greater Houston area. Regency's executive leadership will remain in place with a significant ownership stake; the capital and operational support will be used to build a broader facility services platform and support geographic and capability expansion.

AIR Control Concepts, a portfolio company of Blackstone, has acquired Technical Air Systems, Inc., an ESOP-owned regional HVAC manufacturers' representative based in Morristown, New Jersey. The deal positions Technical Air to leverage AIR's national platform and resources to accelerate growth across the New York/New Jersey market and preserve the company's local relationships and entrepreneurial culture.

Trane Technologies has completed the acquisition of Stellar Energy Americas, a provider of turnkey and modular data center cooling solutions. The purchase strengthens Trane's data center thermal management capabilities and accelerates deployment of prefabricated, scalable cooling systems to meet growing demand in the data center market.

NexCore, the Trinity Hunt Partners-backed commercial HVAC platform, has acquired Action Air Systems (Connecticut), Accutemp Engineering (Massachusetts) and FX Automation (Massachusetts) as tuck-ins to expand its Northeast footprint and capabilities. The three acquisitions added more than 155 employees and bring the NexCore team to over 900 employees nationwide, while adding building controls expertise in-house via the FX Automation tuck-in to Accutemp.

Precision Door Tri-State, a portfolio company of Monogram Capital Partners, has acquired Foris Solutions, a multi-territory Precision Garage Door Service franchisee. The deal creates one of the largest and most diversified operators within the Precision Garage Door Service system and expands the platform’s geographic footprint across nine states; founder Steve Freitas remains a minority shareholder and will join the combined board.

Averon Group, a national HVAC distribution platform backed by Trinity Hunt Partners, announced an investment in Fenco Supply, adding the family-owned HVAC distributor to its platform. The move expands Averon Group’s footprint into the Southeast and strengthens its network of independent HVAC distributors serving contractors and facility managers.

Alvarez & Marsal Capital has formed a strategic partnership with the Day & Nite family of companies and completed a merger with AmeriServe to create Day & Nite AmeriServe, a national HVAC, refrigeration, and commercial foodservice equipment service platform. The combined business, led by Day & Nite CEO Matthew Sher, will leverage A&M Capital's investment to expand geographically across the East Coast, Southeast and Texas and scale service capacity nationwide.

Impact Climate Technologies (ICT), a portfolio HVAC holding company of Ardian, has acquired Larry Wunsch & Associates (LWA), a San Antonio–based commercial HVAC and plumbing equipment representative and distributor. LWA will continue operating under its existing name and leadership while ICT provides strategic, operational, and sales resources to support growth and expand ICT's presence in Texas.

SPS PoolCare, the U.S. swimming-pool services platform backed by Storr Group, has acquired Marathon Pool Care, a pool maintenance and repair provider serving Lee County (Fort Myers/Cape Coral/Bonita Springs), Florida. The deal is an add-on to SPS PoolCare’s Florida expansion as the company continues to scale its Sun Belt platform.

PMC Energy Limited has acquired Halifax-based Metro Commercial Heating & Cooling Limited and Active Heating & Air Conditioning Ltd., expanding its commercial HVAC and Building Automation Systems (BAS) service footprint in the Halifax Regional Municipality. The transactions — completed following BDC Capital’s Growth Equity Partners investment in PMC in September 2025 — increase PMC's service density, recurring maintenance capability, and preserve continuity by retaining founders and management teams.

United Building Solutions, a PE-backed national commercial HVAC platform, has acquired DFW Mechanical Group, a full-service commercial and industrial mechanical contractor based in Wylie, Texas. The add-on expands UBS's footprint across the Southeast and South-Central United States and broadens its HVAC, plumbing, heating, and piping capabilities; financial terms were not disclosed.

Champions Group Holdings, a national provider of residential HVAC, plumbing and electrical services, has acquired Lex Cooling, Heating, Plumbing & Electrical, a North Texas residential service provider. Lex will retain its brand and leadership as Champions Group expands its presence in the Texas market.

Impact Climate Technologies (ICT), an Ardian-backed HVAC holding company, has acquired Heat Transfer Systems of Georgia, an Alpharetta, Georgia-based provider of cooling towers, heat exchangers, boilers, water filtration and related HVAC equipment and services. The acquisition expands ICT’s presence in the Southeast and adds specialized thermal expertise to its platform; Heat Transfer Systems of Georgia will continue operating under its existing name and leadership.

Sila Services has acquired NEOH, an Ohio-based home services platform that comprises five operating brands (Simpson Heating & Air; Bonsky Heating & Cooling; Best Heating & Air Solutions; Ultra Clean Duct Cleaning; Coblentz Plumbing Solutions) and Trade Masters Academy. The add-on expands Sila’s Midwest/Ohio footprint and builds out its multi-trade capabilities across HVAC, plumbing and indoor air-quality services; financial terms were not disclosed.

Blackstone has acquired Madison Dearborn Partners' remaining equity stake in AIR Control Concepts, making Blackstone the sole institutional investor after an initial investment in July 2024. AIR founder and CEO Brad Hobbs and his family are reinvesting alongside Blackstone as the company pursues continued expansion—including opportunities in data centers and adjacent service areas—across 35 U.S. states and Canada with more than 38 operating companies and roughly 1,900 associates.

Broadtree Partners, a Charlotte-based private equity firm, has acquired ACME Plumbing Company, a fourth-generation commercial and residential plumbing services business headquartered in Durham, North Carolina. ACME will serve as Broadtree's platform for its mechanical, electrical, and plumbing (MEP) services strategy while founder Larry Tilley stays on in an advisory capacity.

Kelvin Group, a national provider of industrial and commercial mechanical refrigeration services backed by Southfield Capital, has acquired PermaCold Engineering, a Portland-based industrial refrigeration firm. The add-on deal expands Kelvin's geographic footprint into the Pacific Northwest and brings PermaCold's expertise in ammonia and CO2 refrigeration to Kelvin's platform; terms were not disclosed.

MCS, the national property services provider based in Lewisville, Texas, has been sold in a management buyout to current CEO Craig Torrance and President Andrew Nolan with financial backing from J.P. Morgan Asset Management. The relaunched MCS will retain its brand and narrow focus to commercial, residential and government property services across the United States.