Crosbie HVAC Services & Distribution M&A Update – September 2025

Crosbie recently advised the owner of Eden Energy Equipment Ltd., a specialized distributor of energy-efficient HVAC systems based in Ontario, on its sale to existing management in partnership with Sugar Maple Capital, a Canadian private equity firm. Through our research on the sector and discussions with many industry players as part of the sale process, we developed many insights into the strategies of companies in the HVAC services and distribution sector.

This market intelligence was the basis for the attached HVAC Services & Distribution M&A Update, which includes:

• Overview of the current M&A landscape
• Key drivers of industry growth and consolidation
• Recent M&A activity and profiles of active acquirers in the space