HVAC Industry Experts Set Up PE Firm’s Portco Exit

PE Firms
Deal Team
Prep For Sale
The Need
Industry-focused firm with union experience to conduct market research, headhunt C-suite executives for portco

Service Area: Commercial Due Diligence: Market Study and Recruiting

Client Type: Mid-Market Private Equity Firm

Service Provider Type: PE-focused Diligence Advisory Firm

Industry: Construction and Engineering: HVAC & Plumbing

The Challenge
Prep for sale and build a corporate office team from scratch

The PE firm needed an HVAC-experienced market research firm to help with a pair of high-priority projects. With an eye on exiting soon, the firm wanted someone in the same region as their portco – the southeast U.S. – to talk to union reps, customers, facility managers, trade organization leaders and OEMs.

They were also looking to hire a CEO, CFO and Chief Labor Relations officer to build a corporate office from scratch.

How BluWave Helped
Introduced best-in-class service providers

With just a two-week timeline, we immediately presented a pair of BluWave-grade service providers with HVAC union experience. The client chose its preferred option and was introduced on a call the next business day.

The Result
Service provider sets up private equity firm for successful exit five months after introduction

The client engaged with the service provider, who completed the market study and helped them fill their executive roles. Five months later, the firm sold its portco to a large-cap PE firm after a five-year hold period.

The portco had a 400 percent revenue and EBITDA increase during the holding period, and integrated six different acquisitions in its exit year while working with a BluWave service provider.

We recommend the service provider for anything in the built environment. The team was great. Everything was great. They clearly knew the space. I’d use them again.

PE Firm Principal


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