PE platform-and-add-on (Pac-Man) rollup strategy in HVAC

The advisors describe the PE rollup playbook: buy one large company as a platform, then acquire smaller firms to build regional or national giants; small companies sell to platforms while large ones may become the platform.

“Private equity firms buy one large company as the “platform” and then start acquiring smaller ones to build regional or national giants. If your company is small, you’re likely selling to one of these platforms. If you’re large enough, you might become the platform, attracting buyers beyond just the existing players in your area.”

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