Dear readers, we are delighted to present our M&A report in the field of technical building equipment (TBE) in Germany. In particular, we focus on the installation, expansion, maintenance, repair and conversion of heating, cooling and air conditioning technology in Germany. We focus in particular on the development of the HVAC market and M&A activities in the period from 2020 to January 2024. All of the following information is based on internal analyses, research and our team’s many years of expertise in this sector.
Due to a significant increase in construction activity, political factors, a high demand for modernization and rising energy prices, the HVAC market in Germany has developed rapidly during this period. The shortage of skilled workers and rising effective interest rates are inhibiting factors. At the same time, increasing market consolidation by strategic investors and financial investors has led to an increase in M&A activities.