How do I find and select the right business broker in the HVAC industry?
Updated: Aug 10, 2021
Business brokers work with people looking for companies to buy and business owners ready to sell. How do you select a broker? The right broker will have the ability to find a buyer or seller and advise you in making the best deal with them.
That's pretty obvious, but what gives you confidence in a broker? The number of deals done? Your gut feeling about the person? How about knowledge of your industry? As a business broker, I get asked this question a lot: "Have you worked in fill in the blank industry?" While good business brokers follow a process that does not require an in-depth knowledge of your industry, it sure helps.
In the HVAC industry, whether you are buying or selling, the perfect broker would have both the experience making deals, and the industry knowledge that qualifies them. This person will know your competitors, your suppliers, and your customers. They will know the challenges you face in performance requirements, meeting third party test requirements, air exchanges and energy efficiency, “vent right seal tight” concepts, permeability requirements, geographic requirements, etc. I know this because these qualifications happen to be mine.
Prior to business brokerage, I worked in the air barrier field. I spent time with ABBA, ASHRAE, and more. I worked with architects, specifiers, construction management firms and even have my name on a patent for an air barrier system.
I also spent time in M&A buy side transactions, prospecting for companies and owners, deciding deal structure, and leading acquisition integration. So if you're in search of a business broker with experience in making deals and knowledge of the HVAC industry, just remember I'm only an email away.