HVAC M&A Multiples Fall to 9.5x as Buyers Become More Selective
Recent HVAC-services transaction data show average EV/EBITDA multiples falling from 13.3x in 2021–2023 to about 9.5x from 2024 through mid-2026.
Recent HVAC-services transaction data show average EV/EBITDA multiples falling from 13.3x in 2021–2023 to about 9.5x from 2024 through mid-2026.
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