{
  "title": "Who Is Buying HVAC Businesses in 2026: PE Platforms and Strategics",
  "url": "https://acquisitions.com/blog/who-is-buying-hvac-businesses/",
  "author": "Moran Pober",
  "publisher": "Acquisitions.com",
  "published": "2026-10-24",
  "updated": "2026-10-24",
  "section": "Private equity",
  "keyword": "who is buying HVAC businesses",
  "short_answer": "Three kinds of buyers are buying HVAC businesses in 2026. Private equity-backed platforms such as Apex Service Partners, Sila Services, Redwood Services and Wrench Group buy residential shops as add-ons. Public companies such as Comfort Systems USA and EMCOR buy larger commercial mechanical contractors. Individual buyers with SBA 7(a) loans buy the small, owner-run companies the platforms skip.",
  "facts": {
    "Apex Service Partners": [
      "Alpine Investors; Apollo funds taking a minority stake",
      "Residential HVAC, plumbing, electrical; 75 brands in 46 states, 13,000+ employees per the release",
      "Apollo release, 28 May 2026: minority investment, close expected Q4 2026, terms not disclosed"
    ],
    "Sila Services": [
      "Goldman Sachs Alternatives (majority, bought from Morgan Stanley Capital Partners)",
      "Residential HVAC, plumbing, electrical in the Northeast, Midwest and Mid-Atlantic; 30+ brands",
      "Goldman Sachs release, 12 Nov 2024: majority stake, terms not disclosed"
    ],
    "Redwood Services": [
      "Altas Partners, alongside founding backer Union Main Group",
      "Residential HVAC, plumbing, electrical through a partnership model; bought the five-company Sierra Platform (Las Vegas)",
      "Kirkland & Ellis, 5 May 2026: about 400 employees and 40,000 households added, terms not disclosed"
    ],
    "Wrench Group": [
      "Leonard Green & Partners (majority); TSG Consumer Partners and Oak Hill Capital (minority)",
      "Residential HVAC, plumbing, water, electrical; 16 brands in 24 markets per the 2022 release",
      "Leonard Green announcement, 9 Nov 2022: minority investment by TSG and Oak Hill, terms not disclosed"
    ],
    "Service Logic": [
      "Bain Capital with Mubadala (bought from Leonard Green)",
      "Commercial HVAC and building automation; 140+ locations, 5,000+ technicians",
      "Mubadala release, 17 Dec 2025: acquisition closed, terms not disclosed"
    ],
    "Southern Home Services": [
      "Gryphon Investors, through North American Essential Home Services",
      "Residential HVAC, plumbing, electrical in the Southeast, Midwest and Mid-Atlantic",
      "Contracting Business, 23 Feb 2026: bought Dunn's HVAC, Plumbing & Electrical, Alabama, terms not disclosed"
    ],
    "Any Hour Group": [
      "Knox Lane (invested July 2021)",
      "HVAC, plumbing, electrical in the Mountain West, based in Orem, Utah",
      "Release reprinted by HJ News, 24 Nov 2025: agreement to buy Lee's Plumbing, terms not disclosed"
    ],
    "ARS / Rescue Rooter": [
      "GI Partners (majority since 2020) with Charlesbank Capital Partners",
      "Residential and light commercial HVAC, plumbing, electrical; based in Memphis",
      "ARS release, 19 May 2026: bought Tipping Hat Plumbing, Heating & Electric, Denver, terms not disclosed"
    ],
    "TruTemp Services": [
      "Centre Partners with Baldwin Creek Partners",
      "Residential HVAC, plumbing, electrical in North Carolina",
      "PR Newswire, 13 Oct 2026: bought D&D HVAC and Sandhills Heating & Refrigeration, terms not disclosed"
    ]
  },
  "sources": [
    "https://www.apollo.com/insights-news/pressreleases/2026/05/apex-service-partners-and-alpine-investors-announce-strategic-mi",
    "https://am.gs.com/en-kw/institutions/news/press-release/2024/sila-services-investment",
    "https://www.kirkland.com/news/press-release/2026/05/kirkland-advises-altas-backed-redwood-services-on-acquisition-of-sierra-platform-from-se-capital",
    "https://www.achrnews.com/articles/164593-redwood-announces-investment-by-altas-partners",
    "https://www.leonardgreen.com/tsg-consumer-partners-oak-hill-partner-with-leonard-green-and-management-to-enhance-wrench-groups-next-phase-of-growth/",
    "https://www.mubadala.com/en/news/mubadala-partners-with-bain-capital-in-acquisition-of-service-logic",
    "https://www.contractingbusiness.com/industry-news/news/55360026/southern-home-services-expands-alabama-footprint-with-dunns-acquisition",
    "https://www.gryphon-inv.com/news/gryphon-investors-completes-majority-investment-in-southern-hvac-and-announces-new-home-services-holding-company/",
    "https://www.hjnews.com/news/state/any-hour-group-expands-into-northern-utah-with-the-acquisition-of-lees-plumbing-inc/article_4489841a-53e7-5737-8d61-233b368ba4f7.html",
    "https://digital-release.kxan.com/business/press-releases/cision/20260519CL63200/american-residential-services-llc-continues-to-expand-with-the-acquisition-of-tipping-hat-plumbing-heating-electric",
    "https://www.gipartners.com/news/gi-partners-joins-charlesbank-capital-partners-to-accelerate-growth-at-american-residential-services",
    "https://www.prnewswire.com/news-releases/trutemp-services-expands-north-carolina-footprint-with-two-complementary-acquisitions-302906264.html",
    "https://www.sec.gov/Archives/edgar/data/1035983/000110465926017530/fix-20251231x10k.htm",
    "https://emcorgroup.com/investor-relations/press-releases/2025-news/emcor-group-inc-completes-acquisition-of-miller-electric-company",
    "https://www.sba.gov/funding-programs/loans/7a-loans"
  ],
  "license": "Facts may be quoted with attribution to Acquisitions.com and a link to the url above."
}