Who Really Owns Your HVAC Company?

At first glance, the company that shows up at your door might look like the same trusted local business you’ve used for years. The name hasn’t changed, the trucks may look familiar, and the voices on the phone might sound the same. But behind the scenes, things can be very different.

The Rise of Private Equity in HVAC

In the last few years, private equity firms have spent billions of dollars buying up HVAC, plumbing, and electrical companies across the country. Their goal isn’t building a long-term business rooted in the community — it’s about rolling up dozens of small businesses into massive platforms and chasing short-term profits.
This strategy is accelerating quickly. Nearly800 home service companies have been acquired by private equity since 2022, and more deals are happening every month.

What Happens After the Buyout

When a local company is sold to Wall Street investors, the culture often shifts:

• Trusted names, new priorities. The familiar brand remains, but behind the curtain, the focus moves to financial returns.
• Pressure to “sell, sell, sell.” Technicians may be given quotas or incentives to upsell services, even recommending replacements when simple repairs would do.
• Short-term profit over long-term trust. Decisions are made based on quarterly reports, not customer relationships built over decades.

We’ve seen this play out before in other industries. After a private equity takeover in 2005,Toys “R” Uswas burdened with debt, pushed for quick profits, and ultimately collapsed — taking thousands of jobs and a beloved brand with it.

Why This Matters to You

Your HVAC system is one of the most important investments in your home. When you call a company, you deserve to know whether you’re dealing with a true local business — or a faceless financial group focused on squeezing every dollar.
That’s why we encourage homeowners to always ask:

• Who really owns this company?
• Do technicians earn commissions for upselling?
• Will they recommend repair when it makes sense, or just push for replacement?

Proudly Local. Proudly Independent.

Here at ICT HVAC, we are proud to be locally owned for two generations. Our name is our reputation — and we’ve built it by always doing right by our customers. We never suggest replacing equipment that can be repaired, and we take pride in offering honest, straightforward service.
We are grateful for the trust and support our community has shown us over the years, and we remain committed to being the HVAC company you can depend on today, tomorrow, and for generations to come.