06 Mar Acquiring Minds: Why Treat an Acquisition Like a Startup
Sean Daly took an unconventional approach to change management after acquiring Ice-C-Cool Mechanical. While most acquisition entrepreneurs adopt a cautious, gradual strategy to avoid overwhelming inherited teams and processes, Sean embraced rapid, forceful changes. His confidence stems from extensive leadership experience and a startup mindset favoring experimentation and iteration—expecting mistakes but adapting quickly.
Unlike the common leveraged buyout (LBO) model, Sean bought his HVAC business with all cash, eliminating the burden of debt payments. This allowed him to prioritize growth rather than focusing on loan repayment. In contrast, SBA loan buyers often take a more conservative approach, ensuring stability rather than aggressive expansion.
This distinction shapes Sean’s strategy, pushing him to scale the business rapidly to justify the high-risk equity investment. While most entrepreneurs rely on debt financing, Sean’s story offers a unique perspective on acquisition entrepreneurship.
