Blackstone is in. Goldman is in. ARS is next.
Three of the largest residential HVAC transactions in the past year — at ascending EBITDA scale, all into the hands of large-cap private equity.
The PE playbook for MEP roll-ups is changing
Public-market MEP specialty contractors are trading at a 5-year high, driven largely by data center exposure. For PE shops running MEP platforms, that changes the math on how — and where — they exit.
Here's why ARS might not get to $3.5 billion
American Residential Services is exploring a sale at a reported $3.5B EV. A closer look at process timing, growth assumptions, and channel mix suggests the headline is the bull case.
HVAC shipments fell 29% in January
January AHRI data show combined A/C and heat pump shipments down 29% YoY — the eighth consecutive month of 20%+ declines. The headline is real, but the comparison base is the story.
Chick-fil-A is getting into home services
Through subsidiary Red Wagon Ventures, the chicken giant just launched Acrew Home Professionals out of Atlanta. Two weeks after Blackstone paid 18.5x for Champions, the strategic interest just got considerably more interesting.