As more and more companies are being acquired by private equity, the market is drastically changing, meaning the smaller contractors need to learn to adapt to survive.
When a business owner starts a conversation with a professional buyer, it’s important to note they will always be at a disadvantage. That’s why it’s important to have a professional in their corner, too.
To preserve the time and hard work spent on developing a company culture, really take the time to ensure whoever the business is sold to is committed to preserving it.
As a retirement plan, an ESOP won’t maximize the sale price of an HVAC company. But for owners looking to carry on their legacy, it will keep the company intact and reward loyal employees who helped them build it.
While many HVAC companies are prepared for booming growth and expansion these days, others within the industry may be in a better position to consider market consolidation instead.
While growth may be the case for a number of HVAC businesses, it’s not necessarily the future of every one. In fact, some of them are best positioned for market consolidation.