Buyer evaluated then passed on a 40+ year HVAC business; another buyer acquired and turned it around

The hosts walk through a small residential HVAC acquisition target (~$105K price, 2.1x) that they passed on at due diligence over an unusable customer list; a different local buyer acquired it and grew it to $3M in the first six months by raising prices and adding CRM/operations.

“But the outcome to this is I had a buddy who bought it here in town In six months. He was able to turn this around in six months.”

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