Running a small HVAC business is difficult, relying on a single owner to maintain all aspects of the business. In this new episode of Conversations from The EDGE with Service Logic, host Sean Heath sat down with Tim Riedel, president of Service Logic, to discuss how the nationwide HVAC company approaches acquisitions and help ensure that buyer and seller see eye to eye.
The Charlotte, North Carolina-based company is the largest privately held energy and HVAC/mechanical company in the United States. Their robust acquisitions program offers company owners the opportunity to financially secure their business while gaining a well-established partner in business.
“For many, selling their business is like selling their baby,” Riedel said. “We need to feel out whether we are the right fit for you and are you the right company for us. The more time we spend getting to know one another, the better chance we’ll both make the right decision.”
Riedel said interestingly, most sellers aren’t looking to retire and leave the business.
“They take chips off the table, secure what they’ve built, and stay now, feeling a tremendous burden off their shoulders,” he said. “Then in the future, they want to have their employees and customers taken care of and make sure their business has the right home.”
For the latest news, videos, and podcasts in the Building Management Industry, be sure to subscribe to our industry publication.
Follow us on social media for the latest updates in B2B!