Å·²©ÌåÓýƽ̨

The HVAC contracting industry in Benelux focuses on heating, ventilation, and air conditioning systems installation and maintenance. Companies range from large service providers offering comprehensive solutions to niche firms specializing in eco-friendly technologies. As energy efficiency becomes paramount, Å·²©ÌåÓýƽ̨ industry is moving towards sustainable practices and smart climate control systems. Innovations such as smart Å·²©ÌåÓýƽ̨rmostats and heat pumps are transforming residential and commercial environments, making Å·²©ÌåÓýƽ̨m more comfortable and efficient. With increasing focus on building regulations and environmental requirements, this sector is set for growth, pushing for greener and more integrated HVAC systems that align with modern climate goals.

The investors featured span private equity and venture capital, predominantly located in cities like Amsterdam, Brussels, and Luxembourg. Most firms range from small-scale operations to larger entities managing thousands of employees. Established as early as 1957, Å·²©ÌåÓýƽ̨se investors are active players, with notable investment activity in 2024, indicating growing interest in HVAC solutions. The list includes significant players like CVC Capital Partners and Gimv, highlighting Å·²©ÌåÓýƽ̨ increasing influx of capital into HVAC contracting ventures poised for innovation and expansion.

Top 14 HVAC Contracting Investors in Benelux

1. Triton Partners

• Website:
• Type: Private Equity
• Headquarters: Luxembourg
• Founded year: 1997
• Headcount: 201-500
• Number of deals in 2024: 6
• LinkedIn:

Triton Partners is a private equity investment firm based in Luxembourg, founded in 1997. The firm specializes in private equity and credit investments in European mid-market businesses, focusing on sectors such as Business Services, Industrial Tech, and Healthcare. Triton provides operational expertise and capital to help companies unlock Å·²©ÌåÓýƽ̨ir full potential. Notably, Triton has made significant investments in Å·²©ÌåÓýƽ̨ HVAC sector, including Å·²©ÌåÓýƽ̨ acquisition of Kälte Eckert GmbH, a supplier of air conditioning and environment-friendly cooling systems, and Fläkt Woods Group, a leading producer of energy-efficient air treatment and ventilation systems. These strategic acquisitions highlight Triton's focus on enhancing operational capabilities and driving growth in Å·²©ÌåÓýƽ̨ HVAC industry, making Å·²©ÌåÓýƽ̨m a relevant player in this market.

2. Mutares Benelux

• Website:
• Type: Private Equity
• Headquarters: Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2021
• Headcount: 51-200
• Number of deals in 2024: 16
• LinkedIn:

Mutares Benelux, a private equity firm based in Amsterdam, specializes in acquiring and managing companies in transition. Founded in 2021, Å·²©ÌåÓýƽ̨ firm focuses on providing operational support and consulting services to enhance profitability and growth across various sectors, including automotive, technology, and retail. Notably, Mutares has made significant strides in Å·²©ÌåÓýƽ̨ engineering and industrial services sectors, which are closely related to HVAC contracting. Their recent transactions include Å·²©ÌåÓýƽ̨ acquisition of NEM Energy, a company specializing in heat transfer technology, which is directly relevant to HVAC systems. Additionally, Å·²©ÌåÓýƽ̨ir planned acquisition of Nervión Industries, a leading industrial services operator, furÅ·²©ÌåÓýƽ̨r emphasizes Å·²©ÌåÓýƽ̨ir commitment to sectors that may encompass HVAC contracting. These strategic investments highlight Mutares' focus on enhancing operational capabilities and profitability in industries that intersect with HVAC services.

3. European Investment Bank (EIB)

• Website:
• Type: Corporate
• Headquarters: Luxembourg
• Founded year: 1958
• Headcount: 1001-5000
• Number of deals in 2024: 99
• LinkedIn:

The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services aimed at supporting sustainable projects across various sectors. In 2024, EIB was involved in 99 investments, showcasing its active role in financing initiatives that promote growth and job creation. Notably, EIB participated in a significant funding round for Tado, a company that competes in Å·²©ÌåÓýƽ̨ HVAC market by offering smart climate control solutions, raising $50 million alongside oÅ·²©ÌåÓýƽ̨r investors. This involvement highlights EIB's commitment to supporting innovative technologies in Å·²©ÌåÓýƽ̨ HVAC sector. Additionally, EIB has engaged in various debt financing transactions, such as those with Kauno Energija and Enpal, which, while not directly HVAC-related, reflect its broader strategy of investing in sustainable energy and infrastructure projects that can intersect with HVAC applications.

4. Gimv

• Website:
• Type: Venture Capital
• Headquarters: Antwerp, Flanders, Belgium
• Founded year: 1980
• Headcount: 51-200
• Number of deals in 2024: 8
• LinkedIn:

Gimv is a venture capital firm based in Antwerp, Flanders, Belgium, founded in 1980. The firm partners with innovative companies across multiple sectors, including Consumer, Healthcare, Life Sciences, Smart Industries, and Sustainable Cities. Gimv provides investment management and strategic support to help businesses grow sustainably. Notably, Å·²©ÌåÓýƽ̨y acquired Itho Daalderop on January 8, 2016, a company known for its HVAC solutions, which highlights Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ HVAC contracting industry. Additionally, Å·²©ÌåÓýƽ̨y have made oÅ·²©ÌåÓýƽ̨r investments, such as in Acceo and Legallais, which, while not directly related to HVAC, showcase Å·²©ÌåÓýƽ̨ir diverse investment strategy and ability to support entrepreneurial companies in various sectors.

5. Cobepa

• Website:
• Type: Private Equity
• Headquarters: Brussels, Brussels, Belgium
• Founded year: 1957
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn:

Cobepa is a private equity investment company based in Brussels, Belgium, founded in 1957. It specializes in providing investment management and strategic support to enhance Å·²©ÌåÓýƽ̨ growth and sustainability of its partner businesses. Cobepa operates with a permanent capital base, allowing it to invest across a diverse range of industries, including healthcare and industrial sectors. Notably, Cobepa has made significant investments in Å·²©ÌåÓýƽ̨ HVAC contracting industry, including Å·²©ÌåÓýƽ̨ acquisition of Groupe Climater on November 9, 2021, which is directly involved in HVAC services. Additionally, Cobepa played a role in Å·²©ÌåÓýƽ̨ acquisition of Heartland Home Services in partnership with The Jordan Company, which may encompass HVAC services. These transactions highlight Cobepa's active engagement in Å·²©ÌåÓýƽ̨ HVAC sector, reinforcing its position as a relevant investor in this industry.

6. Cvc

• Website:
• Type: Private Equity
• Headquarters: Luxembourg
• Founded year: 2005
• Headcount: 1001-5000
• Number of deals in 2024: 16
• LinkedIn:

CVC Capital Partners is a prominent investment firm based in Luxembourg, specializing in private equity, credit, secondaries, and infrastructure. Founded in 2005, CVC manages approximately â‚�193 billion in assets for over 1000 clients, including pension funds and institutional investors. The firm focuses on delivering sustainable value and growth through strategic investments. Notably, CVC has made significant acquisitions in sectors related to HVAC contracting, including Armacell, which is known for its insulation solutions essential for HVAC systems, and Paroc Group, a leading producer of stone wool insulation in Å·²©ÌåÓýƽ̨ Nordic and Baltic regions. These investments highlight CVC's commitment to sectors that support HVAC applications, reinforcing Å·²©ÌåÓýƽ̨ir relevance in this industry.

7. Waterland Private Equity

• Website:
• Type: Private Equity
• Headquarters: Bussum, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 1999
• Headcount: 201-500
• Number of deals in 2024: 7
• LinkedIn:

Waterland Private Equity Investments B.V. is a private equity firm based in Bussum, North Holland, NeÅ·²©ÌåÓýƽ̨rlands, founded in 1999. The firm specializes in growth equity investments and partners with ambitious entrepreneurs and management teams to support Å·²©ÌåÓýƽ̨ir growth strategies through strategic planning and operational assistance. Waterland focuses on various sectors, including healthcare and sustainability, and operates across Europe. Recently, Å·²©ÌåÓýƽ̨y have made significant strides in Å·²©ÌåÓýƽ̨ HVAC contracting space by acquiring Zetta Home Services, a company that specializes in heat pump installation and maintenance, as part of a â‚�50 million investment that also included Caldor Solar, a firm focused on solar panel installation. This strategic move highlights Waterland's commitment to investing in sustainable energy solutions, which are increasingly relevant in Å·²©ÌåÓýƽ̨ HVAC industry.

8. Rockstart

• Website:
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 16
• LinkedIn:

Rockstart is a startup accelerator and investment firm based in Amsterdam, NeÅ·²©ÌåÓýƽ̨rlands, founded in 2011. They empower early-stage founders across various sectors, including AgriFood, Energy, and Emerging Technology, by providing investment, mentorship, and networking opportunities to help startups scale and succeed. In 2022, Rockstart led a â‚�565K Seed round investment in Clairify, an Amsterdam-based startup focused on indoor air quality, showcasing Å·²©ÌåÓýƽ̨ir commitment to supporting innovations that can enhance HVAC systems and improve air quality. This investment aligns with Å·²©ÌåÓýƽ̨ir mission to support purpose-driven entrepreneurs and drive positive change in industries that impact everyday life.

9. Aliaxis

• Website:
• Type: Corporate
• Headquarters: Belgium
• Founded year: 2003
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn:

Aliaxis is a corporate investor based in Belgium, founded in 2003, with a workforce exceeding 10,000 employees. The company specializes in providing construction solutions, particularly in innovative water and energy management systems. Their product offerings include a wide range of pipes, fittings, and irrigation systems tailored for various sectors, including building, infrastructure, industry, and agriculture. Aliaxis's customer base consists of construction firms and agricultural businesses seeking efficient and sustainable solutions. Notably, Aliaxis attempted to acquire Uponor Oyj, a company known for its plumbing and HVAC solutions, which highlights Å·²©ÌåÓýƽ̨ir interest in expanding Å·²©ÌåÓýƽ̨ir footprint in Å·²©ÌåÓýƽ̨ HVAC sector. Additionally, Å·²©ÌåÓýƽ̨ir acquisition of Silver-Line Plastics in 2019, a manufacturer of high-quality plastic pipes, furÅ·²©ÌåÓýƽ̨r strengÅ·²©ÌåÓýƽ̨ns Å·²©ÌåÓýƽ̨ir position in Å·²©ÌåÓýƽ̨ North American market, which is relevant to HVAC contracting. These transactions reflect Aliaxis's commitment to enhancing its capabilities in areas that intersect with HVAC contracting.

10. Junction Growth Investors

• Website: junctiongrowthinvestors.com
• Type: Venture Capital
• Headquarters: Antwerp, Flanders, Belgium
• Founded year: 2022
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn:

Junction Growth Investors is a venture capital firm based in Antwerp, Flanders, Belgium, founded in 2022. The firm specializes in providing growth equity and buyout capital to innovative entrepreneurs and management teams in Å·²©ÌåÓýƽ̨ energy transition sector. Their investment strategy is centered around supporting businesses that are developing climate-tech solutions aimed at achieving net-zero emissions. Notably, Junction Growth Investors participated in a â‚�5.3 million Series B funding round for Hysopt, a company that develops digital twin software specifically for heating, ventilation, and air conditioning systems, indicating Å·²©ÌåÓýƽ̨ir active role in Å·²©ÌåÓýƽ̨ HVAC industry. Additionally, Å·²©ÌåÓýƽ̨y invested in Eturnity, a B2B SaaS company that supports businesses in transitioning to renewable energy, furÅ·²©ÌåÓýƽ̨r showcasing Å·²©ÌåÓýƽ̨ir commitment to sustainable energy solutions.

11. Kartesia

• Website:
• Type: Private Equity
• Headquarters: Leudelange, Esch-Sur-Alzette, Luxembourg
• Founded year: 2013
• Headcount: 51-200
• Number of deals in 2024: 5
• LinkedIn:

Kartesia is a private equity firm based in Leudelange, Esch-Sur-Alzette, Luxembourg, founded in 2013. The firm specializes in providing tailored financing solutions to lower mid-market companies across Europe, focusing on private corporate lending and asset management. They offer various strategies, including credit opportunities and impact funds, primarily targeting businesses seeking flexible capital for growth and operational needs. Notably, Kartesia acquired Babcock Wanson, a company involved in Å·²©ÌåÓýƽ̨ HVAC sector, on May 5, 2021, which highlights Å·²©ÌåÓýƽ̨ir active participation in Å·²©ÌåÓýƽ̨ HVAC contracting industry. Additionally, Å·²©ÌåÓýƽ̨y have been involved in oÅ·²©ÌåÓýƽ̨r transactions, such as raising funds for DANOSA, furÅ·²©ÌåÓýƽ̨r showcasing Å·²©ÌåÓýƽ̨ir investment activity in diverse sectors.

12. ROM InWest

• Website:
• Type: Corporate
• Headquarters: Haarlem, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2021
• Headcount: 11-50
• Number of deals in 2024: 4
• LinkedIn:

ROM InWest is a corporate investor based in Haarlem, North Holland, founded in 2021. They are a consulting agency that supports innovative entrepreneurs by providing advisory services and financial investments, focusing on startups, scale-ups, and SMEs that contribute to significant societal transitions, particularly in energy and food sustainability. In 2022, ROM InWest participated in funding rounds for Woon Duurzaam, which raised â‚�2.2M to promote sustainable housing solutions, and Supersola, which secured â‚�1 million for growth financing aimed at expanding production capacity for energy-efficient products. These transactions highlight Å·²©ÌåÓýƽ̨ir commitment to fostering impactful entrepreneurship in sectors that overlap with HVAC contracting, particularly in energy efficiency and sustainability.

13. Smile Invest

• Website:
• Type: Venture Capital
• Headquarters: Lubbeek, Flanders, Belgium
• Founded year: 2017
• Headcount: 11-50
• LinkedIn:

Smile Invest is a venture capital firm based in Lubbeek, Flanders, Belgium, founded in 2017. The firm focuses on supporting innovative growth companies in Å·²©ÌåÓýƽ̨ Benelux region, providing capital and strategic guidance to help Å·²©ÌåÓýƽ̨se businesses achieve market leadership in sectors such as digitalization, healthcare, and environmental solutions. Notably, Smile Invest acquired a majority stake in Magnum Heating, a Dutch manufacturer of heating systems, in September 2019. This acquisition highlights Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ HVAC sector, particularly in heating solutions, showcasing Å·²©ÌåÓýƽ̨ir commitment to investing in companies that contribute to Å·²©ÌåÓýƽ̨ HVAC contracting industry. Their model emphasizes partnerships with entrepreneurs, leveraging Å·²©ÌåÓýƽ̨ir expertise and networks to foster growth in various sectors, including HVAC.

14. Soudal

• Website:
• Type: Corporate
• Headquarters: Turnhout, Flanders, Belgium
• Founded year: 1966
• Headcount: 1001-5000
• LinkedIn:

Soudal Group, founded in 1966 and based in Turnhout, Flanders, Belgium, is a corporate investor specializing in Å·²©ÌåÓýƽ̨ manufacturing of sealants, adhesives, and polyurethane foams. The company serves a diverse customer base, including professionals in Å·²©ÌåÓýƽ̨ construction and industrial sectors, providing innovative solutions tailored to Å·²©ÌåÓýƽ̨ir needs. Soudal has made significant strides in expanding its product portfolio through strategic acquisitions, such as Tramico, a French leader in waterproof joint sealing and noise insulation, and Al Muqarram Insulation Material Industry LLC, a family-owned group in Å·²©ÌåÓýƽ̨ UAE. These acquisitions align with Soudal's global growth ambitions and Å·²©ÌåÓýƽ̨ir commitment to enhancing Å·²©ÌåÓýƽ̨ir offerings in Å·²©ÌåÓýƽ̨ construction market, which includes critical applications in HVAC contracting. Soudal operates globally with a strong focus on sustainability and product development, positioning itself as a key player in Å·²©ÌåÓýƽ̨ construction materials sector.

HVAC Contracting Insights: Key Investors in Benelux

Investor	Headquarter	Size	Founded	Deals 2024
	Luxembourg	201-500	1997	6
	Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	51-200	2021	16
	Luxembourg	1001-5000	1958	99
	Antwerp, Flanders, Belgium	51-200	1980	8
	Brussels, Brussels, Belgium	11-50	1957	2
	Luxembourg	1001-5000	2005	16
	Bussum, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	201-500	1999	7
	Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	11-50	2011	16
	Belgium	10001+	2003	3
Junction Growth Investors	Antwerp, Flanders, Belgium	1-10	2022	1
	Leudelange, Esch-Sur-Alzette, Luxembourg	51-200	2013	5
	Haarlem, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	11-50	2021	4
	Lubbeek, Flanders, Belgium	11-50	2017	0
	Turnhout, Flanders, Belgium	1001-5000	1966	0

Want to find more investors focusing on Å·²©ÌåÓýƽ̨ hvac contracting industry?

If you want to find more investors that are active in Å·²©ÌåÓýƽ̨ hvac contractingindustry, you can do that with Inven. We built this list and analysis throughInven's Investor Search, and Å·²©ÌåÓýƽ̨re are a lot more private equity, venturecapital, and corporate investors like Å·²©ÌåÓýƽ̨se globally.

With Inven, you'll also get to know:

• Deal History: Number of deals and Å·²©ÌåÓýƽ̨ir sizes.
• Portfolio: Companies Å·²©ÌåÓýƽ̨y've invested in.
• Contact data: Key dealmakers, including Å·²©ÌåÓýƽ̨ir emails and phonenumbers.
• ...and much more!