Tracked deals
540
540 tracked deals across 2018-2026.
Tracked deals
540
540 tracked deals across 2018-2026.
Buyer mix
Mixed buyer set
454 pe · 422 strategic
Top trend
Volume peaked in 2022
112 tracked deals announced in 2022.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Sila Services, LLC | 29 | Home‑services platform operating multiple HVAC, plumbing,... | Strategic (PE-backed) |
| Gryphon Investors | 22 | Middle-market private equity firm focused on partnering w... | PE |
| Hidden Harbor Capital Partners | 20 | Operationally-focused private equity firm specializing in... | PE |
| Right Time Group of Companies | 18 | Leading Canadian independent residential HVAC contractor ... | Strategic (PE-backed) |
| HCI Equity Partners | 15 | Lower middle-market private equity firm focused on partne... | PE |
| Tech24 | 14 | National provider of installation, preventative maintenan... | Strategic (PE-backed) |
| Seacoast Service Partners | 12 | Platform operator acquiring and integrating plumbing, HVA... | Strategic (PE-backed) |
| White Wolf Capital Group | 12 | Diversified investment management firm focused on private... | PE |
| Heartland Home Services | 10 | Technology-enabled provider of residential HVAC, plumbing... | Strategic (PE-backed) |
| Huron Capital | 10 | Lower middle-market private equity firm focused on partne... | PE |
Last 9 years
Supporting Data
GHK Capital Partners completed its acquisition of USA Hometown Experts, a Memphis-based provider of residential and commercial HVAC, plumbing, electrical, and other services operating through eight brands across the Southeast. The investment is intended to support expansion into new markets, the addition of trades, and further acquisitions; terms were not disclosed.
Rensa Filtration acquired Aero Filter, a Michigan-based distributor and service provider of air filtration solutions. The acquisition adds local technical sales and on-site service capabilities to Rensa’s regional network and expands its reach across Michigan.
Peterson Partners closed a $510 million single-asset continuation vehicle for Kelso Industries, with NorthSands Capital committing more than $450 million as the sole lead investor. Peterson Partners Fund X rolled its Kelso position into the new vehicle and added capital; Paceline Equity Partners’ preferred equity investment was redeemed in full as part of the transaction.
Airo Mechanical acquired Legrande's Enterprises, a specialty plumbing and HVAC contractor based in Myrtle Beach, South Carolina. The transaction is Airo's first in partnership with CCMP Growth and marks Airo’s first location in the Myrtle Beach metropolitan area while deepening its plumbing expertise.
Fix-It Group announced the acquisition of Ballard Natural Gas Service, a Seattle-area provider of residential heating and air conditioning maintenance, repairs, and installations. The deal is intended to preserve Ballard’s locally led leadership while Fix-It brings marketing, operational support, and scale to help the business grow.
Air Comfort Service Group partnered with Astra Service Partners, a nationwide network of commercial and industrial mechanical service providers backed by the Orion Group. The transaction closed on March 12, 2026, with Air Comfort’s senior leadership remaining in place to support continued growth and customer service.
NexCore, a commercial HVAC services platform backed by Trinity Hunt, acquired Mechanical Systems Technology. Hudson Avenue Partners acted as exclusive financial advisor to Trinity Hunt and NexCore and arranged financing to support the acquisition.
AirX Climate Solutions, Inc. acquired Northern Air Systems, Inc. to strengthen its mission-critical and specialty HVAC capabilities. Northern Air’s engineering and manufacturing capabilities for complex applications will be integrated into AirX’s HVAC portfolio, with Northern Air founder Tim Confer transitioning to a strategic advisor role and Will Rausch leading operations as general manager.
Oak Hill Capital has agreed to buy Guild Garage Group, an alliance of residential garage door repair and replacement businesses, for more than $800 million. Guild launched in 2024 and has already completed close to 30 acquisitions, generating over $300 million in annual revenue and close to $50 million of EBITDA.
Bauer Investments announced that its portfolio company, UrbanBuild, acquired a controlling interest in We Cool LLC, an Austin-based HVAC and plumbing services provider. The deal formally launches UrbanBuild’s integrated Services Division to build a multi-trade, vertically integrated home services operator across West Austin and the Texas Hill Country.
LO3 Capital provided a senior debt investment to support the recapitalization of Thermometer BAS Holdings LLC and its acquisition of an Arizona-based commercial HVAC business. Thermometer Holdings is a founder-led provider of HVAC, controls, and energy efficiency services, focused on mission-critical customers across the Southeast and Southwest.
Ally Services (backed by Watchtower Capital) completed three add-on acquisitions in 2025: J Hood Services (Manassas, VA), Tri-County Aire (Charlotte Hall, MD), and Above & Beyond (Laurel, DE). The deals expand Ally’s residential HVAC platform across Virginia and adjacent markets while preserving each acquired business’s local brand and employee base.
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.
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.
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.
Seacoast Service Partners, a platform formed by White Wolf Capital Group, acquired Cool By Design, a residential HVAC services provider in Broward County, Florida. The add-on bolsters Seacoast’s footprint in South Florida and expands its network of plumbing, HVAC and refrigeration service businesses.
Franchise Equity Partners (FEP), together with Reliable Residential, has acquired ACG Smith Texas, LLC — the Precision Garage Door Service locations serving Dallas–Fort Worth and Palo Pinto. The deal expands Reliable Residential's Precision Garage Door footprint into the Texas market as an add-on to its multi-brand residential services platform backed by FEP.
Any Hour Group, LLC has entered into a definitive agreement to acquire Lee's Plumbing, Inc., a residential plumbing services provider in northern Utah and southern Idaho. The parties did not disclose the transaction terms. Lee Draper will continue leading Lee's Plumbing under the existing brand.
Seacoast Service Partners, a White Wolf Capital platform focused on plumbing, HVAC and refrigeration services, has acquired Always Air Services, a family- and veteran-owned residential and commercial HVAC provider serving Southwest Florida. The transaction is an add-on to Seacoast's platform and strengthens its presence in Port Charlotte, Charlotte County and Sarasota County, Florida.
Lynx Equity Limited has acquired Valley Plumbing & Heating, a British Columbia–based HVAC and plumbing contractor serving the Okanagan region. The acquisition strengthens Lynx's presence in Canada’s HVAC market and supports Valley's leadership team in its next stage of growth.
Del-Air Plumbing, Air Conditioning and Electric has acquired Jacksonville-based McGowan's Heating & Air Conditioning, expanding Del-Air's service footprint into northeast Florida. Del-Air, a PE-backed platform majority owned by Astara Capital Partners, will integrate McGowan's operations and customers while preserving warranties and adding Del-Air's broader plumbing and electrical services.
Entities managed by Good Springs Capital have completed a growth investment in Falasca Mechanical, a Vineland, New Jersey-based provider of HVAC, mechanical and plumbing services to education, healthcare and commercial & industrial end markets. The Falasca family and senior management will remain in place; Good Springs said the capital will support a third-generation succession, organic growth and pursuit of strategic add-on acquisitions.
Cascade Services has acquired East Coast Mechanical (ECM) — a South Florida residential HVAC, plumbing, electrical and home warranty provider — from Air Pros Solutions, LLC. The add-on expands Cascade's Florida footprint (its 10th Florida acquisition and 13th overall) and will allow ECM to operate under its brand while leveraging Cascade's resources and platform.
Astra Service Partners, a division of Orion Group and portfolio company of Alpine Investors, has made an investment in Knott Mechanical, Inc. SC&H Capital advised Knott Mechanical on the transaction. Knott Mechanical, founded in 2002, provides mechanical and HVAC maintenance, repair and retrofit services to over 1,700 buildings across the Mid-Atlantic.
Grizzly MEP, a commercial MEP platform backed by Garnett Station Partners, announced a partnership with Vermont Mechanical Incorporated, a full-service mechanical contractor headquartered in Williston, Vermont. The deal serves as an add-on to Grizzly's platform to expand its New England footprint and leverage Vermont Mechanical's installation and growing services capabilities across healthcare, government and education end markets.
PremiStar announced that Smith's Refrigeration, a full-service mechanical contractor based in Lumberton, North Carolina, has joined the PremiStar family of companies. The acquisition expands PremiStar’s HVAC, refrigeration and mechanical capabilities in North Carolina and South Carolina and strengthens its service coverage across healthcare, senior living, education, manufacturing and government end markets.
Southern Home Services has acquired Nick's Plumbing & Air Conditioning, a Houston-based provider of plumbing, heating and air conditioning services. The deal expands Southern Home Services' Texas footprint (its fourth Texas location) and will keep Nick's brand and local operations intact while integrating the business into Southern's residential trade services network.
Funded Ventures' Heating & Cooling Services platform has acquired Naugle Heating & Cooling, a long-standing HVAC service provider based in Tecumseh, Michigan. The deal is part of Funded Ventures' seed portfolio buildout to establish regionally focused operating platforms in essential-service sectors.
Sila Services, a national home services platform, has acquired Oxford Plumbing & Heating, a long‑standing residential plumbing and heating provider serving Chester County, Pennsylvania. The add‑on expands Sila’s service footprint and capabilities in its founding market in Eastern Pennsylvania; financial terms and seller details were not disclosed.
Palmetto Air & Water Balance, an SRM Equity Partners portfolio company, has acquired Bay to Bay Balancing, a Tampa-based provider of Testing, Adjusting, and Balancing (TAB) services. The add-on expands Palmetto’s footprint into Florida (its seventh state) and was financed by Deerpath Capital; terms were not disclosed.
Flow Service Partners, a PE-backed HVACR platform, has acquired Weber Refrigeration & Heating, Inc., a regional HVACR provider serving western Kansas. The add-on expands Flow's rural/regional footprint and capabilities in refrigeration, geothermal, and building automation while preserving Weber's local brand and leadership.
Air Conditioning Specialist, Inc. (ACS), a portfolio company of Hidden Harbor Capital Partners, has acquired Clark Heating & Cooling, Inc., a residential and light commercial HVAC provider headquartered in Dickson, Tennessee. The deal expands ACS’s footprint in Middle Tennessee and strengthens its HVAC and plumbing service platform; financing for the transaction was provided by funds managed by First Eagle Alternative Credit and Capital Southwest.
Shore Capital Partners has completed a growth partnership with Comfort Temp Company, a Gainesville, Florida-based mechanical and plumbing contractor. Shore will support Comfort Temp's expansion by investing in talent, systems, service offerings and pursuing add-on acquisitions across Florida and the broader Southeast.
ResiXperts, a residential services platform backed by FoW Partners, has acquired Handy Plumbing Man, a San Carlos, California plumbing services provider founded by Marco Acosta and Amparo Cornelio. The deal is an add-on to expand ResiXperts' presence in Northern California while retaining the company's culture and leadership to support continued growth.
Silver State HVAC, a platform backed by The Edgewater Funds, acquired four regional commercial HVAC, refrigeration and mechanical service providers — Westaire (Ventura, CA), Tri-Point Refrigeration (Austin, TX), The Whitman Co. (Anaheim, CA) and Atlantic Coast Restaurant & Mechanical Services (Miami, FL). The add-on deals expand Silver State’s geographic footprint across the southern United States and enhance its capabilities in commercial HVAC, refrigeration, kitchen equipment installation and related mechanical services.
Percheron Capital has launched Solidaire HVAC & Energy Solutions, a national commercial HVAC and energy services platform, through the foundational acquisition of Enervise, a Cincinnati-based commercial HVAC services company. The platform, led by Katrina Liddell and backed by Percheron, will invest in people, technology and infrastructure to accelerate growth and expand Solidaire's national footprint.
Centre Partners and Baldwin Creek Partners formed TruTemp Holdings, LLC and acquired Maynor Service Company to create a field-services platform focused on HVAC, plumbing and electrical services in the U.S. Southeast. Maynor’s president Brett Chappell invested alongside the firms and will lead TruTemp as the platform pursues a buy-and-build consolidation strategy across the region.
Liberty Service Partners has acquired Restivo's Heating & Air, a family-owned HVAC provider serving the Providence area in Rhode Island. The add-on expands Liberty Service Partners' residential HVAC footprint into the Northeast as part of its platform growth backed by NorthCurrent Partners.
Silver State HVAC, Refrigeration & Plumbing has acquired The Whitman Company, Inc., a commercial HVAC service provider founded in La Mirada, California in 1985, to expand Silver State's Southern California footprint. The deal is an add-on to Silver State's platform (which is backed by The Edgewater Funds) and strengthens its commercial HVAC installation, maintenance and replacement capabilities across Los Angeles and Orange counties.
CCMP Growth Advisors has acquired Airo Mechanical, a Mooresville, North Carolina-based provider of HVAC and plumbing installation services, from an investor group led by Thomas Investments and Stephens Capital Partners. Management (CEO Matt Baude and CFO Angelia Ryan) will remain significant shareholders and Pete Papagiannis will join the board to advise on growth initiatives as CCMP Growth helps expand Airo's capabilities and geographic footprint across the Southeast.
USA Hometown Experts, a platform backed by MSouth Equity Partners, has acquired Metro Plumbing, Heating & Air of Chattanooga, Tennessee. Metro's CEO Drew Hardin will remain in place as the transaction brings the residential HVAC, plumbing, septic and drain services provider into USA's Southeast home services roll-up.
Sila Services, a Goldman Sachs–backed home services platform, has acquired Ahrens & Condill, Inc. and Tangney & Sons Plumbing and Sewer Inc. to expand its footprint in the greater Chicago region. The deals add local HVAC, plumbing and sewer capabilities and teams to Sila’s AA Service Company lead brand in Chicagoland; financial terms and sellers were not disclosed.
GHK Capital Partners LP has completed the acquisition of Rogers Building Solutions, a Douglasville, Georgia-based provider of specialty mechanical HVAC and plumbing services. Rogers (founded 1962) serves mission-critical end markets including data centers, healthcare and manufacturing with over 1,200 skilled professionals across the Southeast; sellers were Aterian Investment Partners and Craft Work Capital.
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