PE roll-up 'second bite of the apple' pitch to HVAC owners

The advisory commentary explains the PE roll-up model to HVAC owners: selling to a PE firm that consolidates multiple businesses to resell later, earning a 'second bite of the apple.'

“If you sell to a private equity (PE) firm that consolidates multiple businesses into one entity, to then sell later, you can get a “second bite of the apple.” You’ll earn for the initial sale of your business, and then again for the later sale.”

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