Expert information and news about the sale of HVAC, mechanical, plumbing, and refrigeration businesses

Earlier this month, Peterson Partners announced it had raised $510 million for a continuation vehicle. The capital will support the continued growth of Kelso Industries, the mechanical, electrical, and plumbing (MEP) services platform Peterson Partners launched in 2021. NorthSands Capital committed more than $450 million as the sole lead investor, and Peterson's own Fund X rolled its position and put in additional money. In roughly five years, Kelso has grown to more than 4,0

In earlier posts, we discussed what due diligence was, and then dug into the financial side. Now let's talk about legal due diligence. It doesn’t usually affect price the way a Quality of Earnings analysis can, but it does wear sellers down. The requests are long, and they can highlight problems you didn't know you had. In this guide, we'll look at why legal diligence is so demanding, where HVAC and mechanical contractors tend to get tripped up, and how to prepare long befo

Due diligence is a bear under the best of circumstances, but just like any other project that’s too unwieldy to handle all at once, you need to break it down into smaller tasks. Let’s tackle one part that usually knocks sellers sideways more than any other: financial due diligence. This is the one that will eat up the most hours and create the most headaches. It's also the one that has the biggest impact on your purchase price.

The early exit approach stands that whole process on its ear. Instead of selling when it’s time to stop working, you sell while you still want to be involved, and stay on for another three, five, or even 10 years (in a role that fits what you actually want to be doing). In this blog, we break down the positives and negatives of this approach.

If you've had any conversations about selling your contracting business, you've probably heard the word "multiple" thrown around a lot. What's the multiple in HVAC right now? What multiple did that guy in the next county get? Can I get a higher multiple? Multiples matter. We're not going to pretend they don't. However, here's the thing: owners who spend all their energy chasing a better multiple while ignoring their adjusted EBITDA usually leave far more money on the table

A decade ago, most owners could go years without hearing from a private equity group, a another company in the industry, or an M&A advisor. Today, you probably feel like you’re getting contacted weekly (sometimes daily) by people who “love your story” and “want to learn more.” What changed?

You’ve spent years building your business, and now it’s time to sell. This will be one of the most significant events of your life....

Selling a small or mid-sized business is no small feat. You’ve spent months (maybe years) getting your operations tight, your financials clean, and your company ready to impress potential buyers. When that well-earned letter of intent (LOI) is finally signed, it’s a big moment, one worth celebrating. But soon after, the due diligence request list arrives. Suddenly, your “Yay!” moment turns into “Oh my…”

If you're a business owner thinking about selling your company—or acquiring or merging with another—you’ll likely come across several professional titles during the process: business brokers, M&A (mergers and acquisitions) advisors, and investment banks. Understanding these distinctions is crucial to choosing the right professional for your goals. Here’s a breakdown of what each one does, how they differ, and when to engage them.

When a private equity (PE) firm comes knocking, they won’t tell you this upfront, but their job isn’t to give you a fair deal. Instead,...

The Importance of Confidentiality: A Real-World Example Selling a business is a high-stakes game where a single slip of confidentiality...

Ask any M&A professional about the most common issues in closing deals, and “working capital disputes” will likely top their list....