Trades Transparency

Private equity is steadily rolling up the trades.

Investment firms are buying up heating-and-cooling contractors and folding them into national platforms. This is a public, independent record of who owns whom: the sponsors, the platforms, and the deals that built them. Structural facts are verified against independent sources; dollar figures we can't confirm are marked reported.

920

Service companies

717

Verified deals

Counts cover service-contractor roll-ups in our record: a floor on the real scale, not a census. How we count →

Where the rollups are

All companies →

Where the consolidation is landing: companies in our record by the US state of their headquarters. The South and the large Sun Belt metros carry the most activity.

1. Texas 113
2. Florida 98
3. California 84
4. Ohio 58
5. New York 56
6. Georgia 54
7. Pennsylvania 49
8. Illinois 47
9. Wisconsin 45
10. Michigan 44

1–4 5–14 15–39 40–79 80+ no recorded companies

All companies in the record. Of the 3,706 published companies, 1,231 (33%) have a recorded US HQ state. A density map, not a market-concentration measure. 766 US companies have no recorded state, 1,258 have no recorded country, and 146 Canadian plus 305 international HQs are not shown.