Te-Ping Chen
speaker
373 appearances
7 recordings
1 series
first heard Mar 2022
last heard Oct 2024
Te-Ping Chen’s voice in public audio — every appearance, attributed to the second.
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Appearances
There's a lot that's happening in the industry right now.
We have spoken to some private equity companies who are doing things like increasing recruiting budgets and training budgets.
So it's possible that some of these private equity-backed companies will be better positioned to help recruit workers.
That's one possible outcome.
But one other effect that owners we've spoken to have said is that this interest from private equity in some ways is...
validating almost for people in the skilled trades and maybe can be encouraging for folks too who are considering what path they want to take.
Because look, it's not just as one owner in Florida who recently sold said to us, like, you're not just the plumber fixing the toilet.
You're now a plumber fixing a toilet who has people from Wall Street courting you.
And so that's validating that that's empowering.
It's a sense of being seen.
His experience, like a lot of owners in the industry, was that getting a lot of potential investors interested in buying his company.
And this has been happening for years now.
And he, like many owners, resisted selling, feeling like, I don't want to sell to someone out of state who doesn't know my customers, doesn't know my people.
And so he'd said no for a long time.
And then he was finally approached by a local business
bigger HVAC company that had recently been acquired by a private equity backed home services firm.
And at that point, he said yes, because it was a great opportunity.
Valuations have been high.
It also was a buyer that he felt good about, this feeling that he wasn't just going to be purchased by someone out of state who had no roots.
And also, he liked the management style of this private equity firm that really places an emphasis on allowing a
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