One contractor's gut-wrenching decision to sell to a consolidator

The decision to sell S.M. Lawrence Co. to Comfort Systems USA Inc. was difficult because the heating, ventilation, and air conditioning (hvac) contractor was a family enterprise founded in 1917, said Bo Lawrence, head of the business. The company generated $17 million in business annually, turned a profit for 17 of the last 18 years and had no debt. However, Lawrence and his brother Frank eventually decided to sell to Comfort, one of four consolidating groups acquiring hvac contractors throughout the US.
DALLAS -- 'We are a very cautious, family-oriented business. We're slow and cautious about making any business decision, especially one of this magnitude.' Speaking quietly and haltingly, Bo Lawrence told [...]