Dealmakers Podcast

From Footballer to £17m HVAC Acquisition Group

Sam Turner explains what happened after acquiring three HVAC businesses, including day one communication, SME culture, CFO support, EOS implementation, deferred consideration, earn-outs, and building a scalable acquisition platform.

Episode 227  |  Runtime: 34:02  |  Audio Episode

Listen to the Episode

Hear Sam Turner break down the real work after completion, from staff communication and management structure to refinancing, deal teams, and scaling acquired HVAC companies.

Episode

227

Runtime

34:02

Topic

Post acquisition integration and HVAC consolidation

Format

Founder interview

Key Takeaways

Three operator lessons from building a £17m revenue acquisition group after completion.

Day One Communication Controls Transition Risk

Staff often assume the worst after a sale. Clear, repeated, honest communication from the buyer reduces anxiety and protects momentum.

Culture Matters More In SMEs

Small business integration is personal. Hiring, management behaviour, values, and day to day issues can shape whether the acquired company stabilises or fragments.

A Scalable Platform Needs Finance Discipline

A strong CFO, clear operating framework, working capital control, and aligned earn-out structures help a buyer move from one acquisition to a repeatable group strategy.

Episode Breakdown

This episode continues Jonathan Jay's conversation with Sam Turner after Sam acquired three HVAC businesses with combined annual revenue of £17m. The focus shifts from deal execution to what happens after completion, including the first day in the business, staff concerns, communication rhythm, and the need to be visibly present without becoming the day to day operator.

Sam explains the culture shock of moving from a large corporate environment into SME ownership, where small details can influence morale and trust. He discusses why culture, values, hiring discipline, and management alignment matter in acquired service businesses, especially when the buyer is relying on local teams to keep customers, engineers, and operations stable.

The discussion also covers the infrastructure behind a buy and build strategy, including when to hire a CFO, how to use the Entrepreneurial Operating System, why retained equity can complicate ownership, and how earn-outs and deferred consideration can align seller incentives. Sam also shares lessons on deal teams, lender due diligence, working capital, refinancing, and focusing due diligence on the issues that actually move risk.

Best For

  • Buyers planning the first 100 days after completion.
  • Acquisition entrepreneurs building a buy and build platform.
  • Operators acquiring HVAC, facilities, engineering, or service businesses.
  • Dealmakers structuring deferred consideration and earn-outs.
  • Buyers deciding when to add a CFO, HR support, and group operating systems.

Questions Answered In This Episode

What should a buyer do on day one after acquiring a business?

Why is culture so important after buying an SME?

How can earn-outs and deferred consideration support an acquisition?

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