In this episode the hosts hilariously critique a New England insulation and energy‑efficiency contractor deal, debating subsidy dependency, normalized EBITDA red flags, and whether it’s a business worth owning.

Business Listing – https://drive.google.com/file/d/1x1fQmCWxkw0Jzbhc-vGwR89oK25r91Lm/view?usp=drive_link

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This week on Acquisitions Anonymous, Michael, Heather, and Mills tackle a unique deal in the home services world — a premier insulation and energy‑efficiency contractor operating in New England with roughly $5.3M in annual sales and a normalized EBITDA of about $671K. The business benefits from utility‑run programs like MassSave and EnergyWise, which drive much of its lead flow, but the panel quickly zeroes in on the risks inherent in those subsidy‑dependent revenue streams and skinny net margins once normalized adjustments are factored in.

Key Highlights:
- New England insulation & energy efficiency contractor with $5.3M revenue.
- Revenue driven heavily by utility subsidy programs (MassSave/EnergyWise).
- Normalized EBITDA ~ $671K but thin net margins after realistic adjustments.
- Discussion on dependency risk of government/utility funding.
- Debate over true profitability once owner labor and capex are normalized.

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