Specialist
Former VP at CoolSys
Agenda
- CoolSys’s HVAC (heating, ventilation and air conditioning) product offering and key end markets
- Regulatory environment and optimisation update
- Industry-wide M&A growth strategy
Questions
1.
Are there any specific trends that you’re monitoring in the HVAC [heating, ventilation and air conditioning] and refrigeration services industry that we should be aware of? Is there anything that might be affecting 2023?
2.
Are regulatory upgrades always a tail for HVAC services? Is there a way to quantitatively estimate service revenues in years with regulatory updates in effect vs non-regulatory years?
3.
The US market won’t parallel or necessarily mirror the UK market, in terms of refrigerant and the regulatory environment around refrigerant, and the UK market is already mature in that sense. Should we expect any similarities between the US and UK markets right now?
4.
Could you describe CoolSys’s product portfolio, highlighting key revenue streams and important geographic markets?
5.
It’s really interesting that you brought up the healthcare and education markets. Are the healthcare and education customers more sticky, necessarily? Is it fair to say that’s where you expect continued growth for CoolSys? Do you think the company has room to grow its margins in 2023, or does industry consolidation lead to margin pressure from other service providers?
6.
Could you describe CoolSys’s acquisition and inorganic growth strategy? How does consolidation and an acquisitive growth strategy help to improve margins?
7.
Who are CoolSys’s primary competitors for its actual acquisition targets? It seems to me that industry consolidation has accelerated over the past years. Are there any other notable PE-owned service companies that you’re monitoring?
