Key Points From the Interview
ames Bloom bought small.
The commercial HVAC business he acquired in 2019 was generating less than $400k SDE and had only 8 employees.
It also had heavy customer concentration, with 2 clients representing a significant share of revenue.
But James saw both of these features — the small size, and the 2 big clients — as opportunities, not deal breakers.
Being a quite-small business meant there was likely more runway for growth, growth that James would be rewarded for.
And the 2 clients were household names, which suggested that the company he was buying had the capacity to satisfy demanding customers. It was a signal that there was a really strong team at the business.
Well 4 years later, and James' insights have delivered.
Revenue has grown 8 times, to a projected $25m by the end of 2023, and a large part of that growth was enabled by the high competence of the core team that James inherited.
So, this is a $25m business that James acquired for just $785k, just 4 years ago.
Today's conversation is a deep dive into how he's done it.
Enjoy this interview with James Bloom, owner of Excel Mechanical Contractors.
