HVAC - Heritage Holding

Our Perspective

Heating, ventilation, and air conditioning (HVAC) services are essential to the safety, comfort, and functionality of residential, commercial, and industrial environments. As energy efficiency standards rise, infrastructure ages, and customers demand more from their building systems, HVAC providers are playing an increasingly critical role in both day-to-day operations and long-term capital planning.

We are drawn to the HVAC industry for its combination of recession-resistant demand, recurring service revenue, and meaningful opportunities for operational improvement. From preventative maintenance to emergency repair and system retrofits, HVAC services are non-discretionary and relationship-driven, making the sector ideal for long-term, values-based investment.

The market remains highly fragmented, with strong regional operators that have built trust through quality work, fast response times, and dependable service. We believe the right companies, backed by patient capital and operational support, can grow meaningfully through organic expansion and thoughtful acquisitions.

What we're looking for

Heritage is looking to partner with HVAC businesses that have built a reputation for technical excellence, reliability, and customer service.

We’re especially interested in companies that:

Generate recurring revenue through service and maintenance agreements
Serve commercial, light industrial, or residential customers
Operate in growing metro or regional markets with strong demand drivers
Have well-trained field teams, robust safety practices, and scalable systems
Are founder-led and seeking a strategic partner for expansion, succession, or M&A

We offer more than financial resources—we bring hands-on operational support, recruiting expertise, and a proven track record of scaling field service businesses. Whether you're looking to expand your footprint or transition ownership while preserving your legacy, Heritage is a long-term partner aligned with your goals.