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Economy

HVAC Wrapped: 2024 in Review

A lot happened in 2024, so we rounded up some highlights, by quarter, as the year winds down

October HVAC shipments grow at highest rate in three years

The industry has staged a comeback from 2023, with a promising replacement backdrop heading into the next two years

$12 billion mini-split maker expands into U.S.

AUX, a leading Chinese HVAC manufacturer, is expanding into the U.S. after nearly 40 years of operating internationally

Pulse check: The economy, small business, and the skilled trades with Gusto

A conversation about the state of the economy, its impact on small businesses, and what’s ahead — along with how to navigate it

Legal

AHRI calls on industry to protect HVAC tax credit

The incoming Congress is considering eliminating certain tax credits, including the industry-favored 25C credit, to pay for a tax bill

Court suspends reporting requirements for small businesses

The law, known as the Corporate Transparency Act (CTA), would have affected 32 million businesses nationwide

What Trump’s EPA pick could mean for contractors amid HFC phasedown

There’s a new wildcard in the mix of the HFC phasedown: Donald Trump’s November 11 nomination of Lee Zeldin to run the Environmental Protection Agency

DOE’s gas furnace rule challenged in court

The rule, per the American Gas Association, "effectively bans the sale of non-condensing natural gas furnaces"

M&A

Apex Service Partners acquires technology company

The nation's largest residential HVAC consolidator has acquired three-year-old tech company HomeBreeze

“As long as we were hitting our numbers, they left us alone,” says contractor on private equity

Post Close is a monthly series anonymously highlighting the thoughts of HVAC contractors who have sold their businesses to a private-equity-backed platform

HVAC investments flowing to the South, analysis shows

Between 2022 and 2024, private equity-backed platforms favored the South when making acquisitions, according to a new analysis

Goldman Sachs’ private equity arm to acquire Sila Services

The deal values the company at about $1.7 billion, or ~17x its 12-month EBITDA of just under $100 million, according to a few people familiar with the matter