New York, February 5, 2020 – Sutton Place Strategies (SPS) was recently featured in The Deal in an article titled, Exit Ramp: Market Heats Up for HVAC Targets. The article discusses the increased activity in the building services and HVAC sector by PE firms, highlighting portfolio companies of Trivest, Riverside, and Huron Capital in this space that may be ready for potential exit.
Nadim Malik, CEO of Sutton Place Strategies (SPS), was quoted in the article examining how the sector has outperformed overall deal growth in the middle market. He commented on the increased M&A activity in the building services and HVAC industry, “People have been rolling up businesses in this space, as shown by the growing number of add-on deals.” SPS captured approximately 36 add-on deals in the space in 2019, compared to 18 in 2018. Overall deals in the building services and HVAC sector increased from 50 deals in 2018 to 63 deals in 2019 with evidence of shorter than traditional ownership periods.
To read the full Exit Ramp: Market Heats Up for HVAC Targets from The Deal, click here.