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Back to blog May 17, 2022 No Comments Author: Andy Jones

Most Active Private Equity Investors in HVAC Companies 

Expanding on our last post, Private Equity Investments in HVAC Companies, here we show the most active PE investors in HVAC companies, sample platform investments, and recent add-on HVAC investments.

Most Active

Four PE firms with at least three current platform HVAC investments:

  1. Bestige Holdings (Park City, UT, US)
  2. Gryphon Investors (San Francisco, CA, US)
  3. Aterian Investment Partners (NewYork, NY, US)
  4. Ardian (Paris, France)

Sample Private Equity Investments in HVAC Companies

September 2021PNC Riverarch Capital invested in Shearer Supply (Farmers Branch, TX, US), an independent distributor of HVAC equipment and supplies.

June 2021RLJ Equity Partners invested in Flow Service Partners (Nashville, TN, US), a maintenance, repair, replacement, and installation platform focused on the heating, ventilation, and air conditioning as well as plumbing and electrical markets.

January 2021Ardian invested in Nevel (Paris, France), a district heating and industrial energy solutions company.

January 2021Bestige Holdings invested in Diamond Heating & Cooling (Garden City, ID, US), provides heating, cooling, indoor air quality, and other related home services to homeowners in the Treasure Valley region.

December 2020Gryphon Investors invested in Right Time Heating and Air Conditioning (St. Catharines, Ontario, Canada), an independently owned residential HVAC services provider with a focus on preventative maintenance programs and repairs and replacements of HVAC units.

September 2020Aterian Investment Partners invested in Rogers Mechanical Contractors (Vila Rica, GA, US), a national provider of HVAC/mechanical and plumbing contracting services to the distribution center market.

Recent HVAC Add-On Investments

March 2022Air Conditioning Specialist [PE Owner: Hidden Harbor Capital Partners] acquired Chancey & Reynolds Inc., based in Knoxville, Tennessee, is a provider of commercial and residential HVAC installation and services.

March 2022Resolute Industrial [PE Owner: AE Industrial Partners] acquired Rocky Mountain Portable Cooling based in Englewood, Colorado, which offers temporary cooling, heating, and power solutions, including 24/7 support.

March 2022Right Time Heating and Air Conditioning [PE Owner: Gryphon Investors] acquired Wardlaw Heating and Cooling, based in Sault Ste. Marie, Ontario, Canada, is an installer and service provider for heating, air conditioning and air quality equipment.

February 2022The Kelvin Group [PE Owner: Southfield Capital] acquired Refrigeration Design & Service (RD&S), an industrial refrigeration services and design/build provider headquartered in Fairless Hills, PA.

January 2022Any Hour [PE Owner: Knox Lane] acquired Advanced Home Services, provides air conditioning, indoor air quality, heating, plumbing, drain and sewer, water treatment, and water heater services throughout Southeast Idaho.

Get the Data

There are currently 233 active PE platform portfolio companies in the HVAC space (and 440 exits).

Purchase the list of 233 PE-owned HVAC portfolio companies
The file includes:
  • Portfolio Company - name, website, city, state, country, business profile
  • Private Equity Firm - name, website, address, city, state, zip, country, phone

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