Building Systems HVAC Target Diligence

The challenge

Acquisition decisions in specialty HVAC depend on a clear view of the end market, not just a target's own performance. The acquirer needed a fact-based view of how large and fast-growing each target's end market was, how each company was differentiated from competitors, how customers perceived them, and how purchasing decisions were made.

With a diligence timeline to meet, it needed reliable answers quickly, grounded in real market and customer input.

The solution

The client engaged BCE Consulting to deliver rapid diligence on two specialty HVAC manufacturers, projecting market size and growth, competitive differentiation, and customer perceptions.

BCE combined open-source research with more than 100 primary research conversations to assess the addressable market size and growth, competitive market share, customer needs, and purchasing processes for both targets. Findings were translated into forward-looking perspectives and implications for the potential acquisitions. 

The results

BCE provided a five-year market size and growth forecast for the end markets of both companies. It also delivered go-forward perspectives and implications for the target acquisitions, giving the client an evidence-based view of each market's potential and each company's competitive position to inform its investment decision.