Podcast #89

“Company Aquisition”

Patrick Lange

Intro: Welcome to Profiles In Prosperity. The leading podcast for residential service contractors sponsored by Service Roundtable and hosted by David Heimer.

David Heimer: Hi, this is David Heimer. Welcome Profiles In Prosperity. Patrick Lange is the founder and owner of the Business Modification Group. He focuses on helping HVAC business owners sell their businesses. Given the significant presence of private equity firms buying HVAC and plumbing companies, I think this is a very timely conversation. So Patrick Lange, welcome to Profiles In Prosperity.

Patrick Lange: Thank you so much. I really appreciate you having me on.

David Heimer: Let’s explore how you got into this. You used to own and operate an HVAC company. How did that happen?

Patrick Lange: Yeah, so kind of a twisted story. I’ve owned a lot of businesses over the years and I’ve been a business broker for probably 14 or 15 years now, and I listed a heating and air company for sale, and I bought it and I’ve ran it for a little over two years. So I guess that’s probably been six years ago now. And after running it for 2 years, I realized that I didn’t belong running a heating and air company and was gonna sell it. And my oldest son worked for me at the time and I told him that he was about to have a new employer. I was gonna sell the company. And he said he really liked the industry, really liked the business and wanted it and so he bought me out.