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. ❤️ Enjoy this interview? SUBSCRIBE for more: https://bit.ly/42hLnN0 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 CONNECT with the Acquiring Minds podcast, socials, etc. 🎧 Podcast on Spotify: https://open.spotify.com/show/2vZrl0u... 🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast... 👉 Get notified of new interviews: https://acquiringminds.co 👉 Follow host Will Smith on Twitter:   / whentheresawill   👉 Connect with host Will Smith on LinkedIn:   / willsmithsf   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. #business #acquisitions #buyingbusiness