How to Build a $30M HVAC HoldCo (4 Acquisitions and Next Goal $150M)

HoldCo Builders - A podcast by PrivatEquityGuy

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At 42, Sam Turner had the title, the pay, the lake view in Switzerland — but he was not happy. So he engineered his exit, just as COVID nuked his industry. Instead of crawling back, he jumped into buying gritty local businesses. His first deal nearly sank him — wrong sector, thin margins, the people piece ignored. Most would quit. Sam doubled down, bought better, and then built a division from scratch that hit $3.66m in year one with double-digit margins. Today it’s five companies, ~$30m rev...