Large platforms tuck in small contractors; new entrants retain owners

Retiring owners are advised to seek large PE platforms (e.g., $250M doing tuck-ins) while first-time HVAC investors will want to retain the owner/operator.

“If you do not and are looking to retire, you should be looking for a big private equity platform that has already acquired a fair amount of HVAC businesses. You are looking for someone who is doing $250 million and can add your $10 million to tuck you into the company.”

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