HVAC Marketing Leaders

11. M&A Series - Part 1: What PE Actually Values: Craig Bunker on Building a Scalable HVAC Business


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This is Part 1 of our 3-part series The Exit Blueprint: M&A Strategy for HVAC Leaders.

In this opening conversation, Ashlei Rolloff talks with Craig Bunker, Director of Business Development at Tonka Bay Equity Partners, about what private equity firms are really looking for when evaluating HVAC businesses. This episode is built for owners preparing for succession, growth partnerships, or a potential exit in the next 2 to 10 years.

They cover:

  • How founder dependency can limit your business valuation

  • Why people and processes matter more than just financials

  • The three strategic investments HVAC owners should prioritize

  • What PE firms look for in team structure and culture

  • How early preparation can create better outcomes

Next up in Part 2: The Legal Landmines That Can Kill A Deal Before The Numbers Even Matter

Referenced Links:

  • Tonka Bay Equity Partners

  • Connect with Craig

Quote to Remember:"We're in the human capital business. If we get the culture wrong, we lose the business." — Craig Bunker

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HVAC Marketing LeadersBy Ashlei Rolloff