Our most-read stories of December
M&A, international expansion, and what’s next for the HFC phasedown
Image: Homepros
As the new year kicks off, here’s a look at our five most-read stories from December:
Apex Service Partners acquires technology company
“Apex Service Partners, the nation’s largest residential HVAC consolidator, has acquired three-year-old tech company HomeBreeze for an undisclosed sum, according to a press release… The company, which raised $3 million in funding in 2021, enables homeowners to get online quotes for water heater replacements.”
$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, capitalizing on America’s growing demand for cooling. The company’s entrance comes at a time when five manufacturers, including Carrier, Lennox, and Trane, hold over a 70 percent share of the U.S. market.”
“As long as we were hitting our numbers, they left us alone,” says contractor on private equity
“They said, ‘You’re growing 20% year-over-year; you’re the highest in our whole group — just keep doing it your way.’ They didn’t come in and change anything and mess with the brand. They knew what the brand meant and the value we created. As long as we were hitting our numbers, they left us alone.”
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 former Congressman Lee Zeldin to run the Environmental Protection Agency… While in Congress, he was part of the ‘Climate Solutions Caucus,’ a bipartisan group balancing economic well-being with environmental stewardship. However, he voted against the Inflation Reduction Act in 2022.”
Yelp makes updates to boost contractor advertising
“Yelp this week rolled out over 20 product updates as part of a larger initiative to improve its advertising offerings, particularly for home service businesses… The company embarked on a $40 million spending blitz this year to capture more advertising dollars from home service companies, which now represent over 60 percent of its revenue.”
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