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Owned and Operated Growth

From Investment Banker to HVAC Owner: 18 Months Later

📅 July 9, 2026 ⏱️ 1:05:35 🎤 John Wilson, Will Scriver

Chapters

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  • 0:00
    Preparing a Business for Sale
    The discussion begins with the critical importance of preparing a business for sale well in advance, highlighting common owner mistakes and the value of proactive planning.
  • 1:45
    Investment Banker vs. Broker
    Will Scriver explains the key differences between an investment banker and a business broker, emphasizing the specialized skill set and structured process of investment banking compared to the generalist approach of brokers.
  • 12:49
    From IB to HVAC Owner
    Will recounts his transition from investment banking to owning an HVAC business, detailing his motivation and the initial challenges and learning experiences in the home service industry.
  • 20:43
    IB Background in Home Services
    Will discusses how his investment banking background has both helped and hindered his ability to operate a home service business, focusing on the macro-level understanding versus the micro-level operational and people management skills.
  • 35:33
    HVAC Business Overview
    Will provides an overview of his HVAC business 18 months after acquisition, including revenue growth, team structure, and the strategic focus on plumbing to mitigate seasonality.
  • 48:58
    Common Owner Mistakes
    The conversation delves into common mistakes made by home service business owners, particularly their lack of preparation for a future sale and underestimation of technology and team building as investments.
  • 1:05:32
    The Apex Deal & Market Trends
    Will and John discuss the nuances of M&A valuations, specifically touching on the Apex deal and the broader market trends, including new capital inflows and the impact of AI on the home service industry.
  • 1:33:26
    Advice for Business Owners
    Will offers advice to home service business owners, emphasizing the importance of thinking about a potential sale years in advance and understanding key performance indicators.
  • 1:45:44
    People Business Insight
    Will shares his most valuable lesson learned from owning a service business: it's fundamentally a people business, highlighting the importance of taking care of employees and customers.

Speakers

J
John Wilson
Host
W
Will Scriver
Tradesman Group

Key Takeaways

✦

Start preparing your business for sale 2-3 years in advance by implementing robust systems, processes, and a strong management team.

✦

Understand the difference between investment bankers and business brokers; an investment banker offers specialized skills for structured M&A processes, crucial for businesses with over $1M EBITDA.

✦

View investments in technology (like Service Titan or HouseCall Pro) and human capital (management teams) as essential for increasing business value, not just as expenses.

✦

Diversify your service offerings, like adding plumbing to an HVAC business, to smooth out seasonality and increase year-round revenue stability.

✦

Leverage your strengths and seek partnerships that offset your weaknesses, especially in areas like operations, sales, or strategic growth, to build a more robust company.

✦

Embrace feedback on your business's weaknesses, even from potential buyers, as this can provide a clear roadmap for improvements that significantly increase your valuation.

✦

Recognize that the home services industry is attracting significant capital due to its durability and protection from disruptive technologies like AI, creating favorable conditions for sellers.

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