Bullseye Buying a $1m SDE Business in a Hot Industry | Peter Ciaverilla Interview

Today's guest Pete Ciaverilla bought an HVAC business with over $1m in SDE. And he found it with proprietary search, although he also used a buy-side advisor. And then we spend time on owning and operating a sizable HVAC business, his revenue mix between residential and commercial, and how he's invested in improving that mix. Less than 3 years after buying the business, Pete has grown EBITDA from just over a million to over $1.6m, and crucially, he's improved the quality of those earnings. Based on his company's revenue mix today versus when he bought it, the value of each dollar of earnings it generates is higher. Here is Pete Ciaverilla, owner of Sharon's Heating & Air Conditioning.

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00:00:00. Pete's background
00:06:49. Pete starts searching
00:18:04. Combining households with his parents
00:23:21. Finding Sharon's Heating and Air Conditioning
00:27:49. Evaluating the HVAC business
00:36:56. Deal structure breakdown
00:41:46. Negotiating with the owner
00:48:43. Investor relations and fundraising
00:52:39. Transition challenges
00:57:58. Ownership and business size
01:06:10. Strategic shift to residential
01:10:37. Seasonal vs. cyclical demand in HVAC
01:15:43. Challenges with commercial revenue
01:25:55. Why does private equity like HVAC so much?
01:30:30. Navigating high leverage in business acquisition
01:43:05. Future plans and possibilities

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ABOUT Acquiring Minds
Acquiring Minds is a podcast about buying businesses. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and host Will Smith talks to the people who do it. New episodes 2x per week.

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