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Steve Carroll
CEO and Co-Founder of Kelso Industries, a commercial HVAC services company backed by private equity. He scaled a business from $15 million to $250 million in EBITDA at Walmart.
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May 6, 2025
• 32min
From the first HVAC Services acquisition to the 25th with Steve Carroll
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In this engaging conversation, Steve Carroll, CEO and Co-Founder of Kelso Industries, shares his inspiring journey from a small-town construction background to leading 25 acquisitions in the HVAC sector. He discusses his remarkable success scaling EBITDA at Walmart and reveals key lessons about private equity pitfalls, emphasizing the need for unique market pursuits. Steve elaborates on Kelso’s innovative partnership model, which fosters trust and long-term vision, and shares insightful integration strategies that have transformed the company.
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