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case studies | ESG advisory

Case studies

Assessment of policy and funding for EU HVAC and heat pump market


A major private equity firm was considering an acquisition in the heating, ventilation and air conditioning (HVAC) sector in an EU member state. 


GC conducted regulatory and political analysis, providing a red flag report on an accelerated timescale, assessing the member state government’s timeline and funding plans for the replacement of gas boilers with hybrid or fully electric heat pumps, and political views towards air conditioning subsidies in the context of the green transition. 


The client better understood policy tailwinds supporting market growth potential and was able to calibrate its bid.