Building an HVAC Holdco to £60m in Revenue
Acquiring Minds
00:00
Is There a Natural Multiple Arbitrage Opportunity in the HVAC Industry?
There's like 38,000 businesses just in the UK HVAC industry. So therefore you've got this whole huge long tail of businesses which means the valuations at that level in the long tail is super low. And if you've got 10 businesses in a group, even though they're not one business,. The risk is obviously less than buying one one business. There is a natural arbitrage opportunity by putting companies together, not even together, but as part of the same group. Because multiple, multiple is increased as risk reduces.
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