Sold at 6x EBITDA. More than double the norm.
For more than 30 years, we built and grew Plum Heating & Cooling through constant change and the everyday demands of running a business. As the company became larger and more complex, we reached a point where the structure behind the business needed to evolve as well. We were experiencing issues with role clarity and ownership, our meetings were not always consistent, and we needed stronger alignment around the overall direction of the business.
Succession was also becoming an important consideration. We wanted to build a business that could continue to operate successfully without being dependent on us as owners, but we needed a practical framework to help make that transition possible.
We chose Adapt because it offered a structured way to turn those intentions into action. It helped us bring the different areas of the business together, clearly define roles and responsibilities, and create greater connection across the organisation. Career development information, meeting outcomes, business priorities and progress were captured within one platform, making everything easier to access and understand.
This visibility helped us identify where team members needed additional support, whether people were happy and well suited to their roles, and where further development was required. It also gave our leadership team a much clearer picture of how the different parts of the business were operating and where improvements needed to be made.
One of the most valuable parts of the process was being able to look back over the history of our meetings and see how far we had come. After 12 months, we could clearly review what had been discussed, the actions we had taken and what we had achieved. When you are focused on the daily demands of running a business, it can be difficult to recognise the progress being made. Adapt gave us a clear record of that journey.
The platform was easy to navigate and became a single source of truth for our business.
Kyle Briggs, Owner, Plum Heating & Cooling
The guidance and support provided by the Adapt team also helped us remain focused, follow through on decisions and maintain momentum.
Most importantly, the work we completed through Adapt played a valuable role in helping us sell Plum Heating & Cooling to a private-equity firm. When it came time to present the business to potential buyers, we were able to clearly demonstrate how the company operated, how roles and responsibilities were structured, where the business was heading and how well it was being managed.
I have no doubt that all of this helped us achieve a multiple of our EBITDA of 6 times which is more than double of what most businesses are able to achieve on exit.
Kyle Briggs
Having this information properly documented and readily available gave the buyers a clearer understanding of the strength of the business and its ability to operate beyond its founders.
Without Adapt, we would not have been able to present Plum with the same level of clarity and confidence throughout the sale process.
Kyle Briggs
After more than 30 years in business, Adapt helped us bring greater structure and visibility to everything we had built. It prepared Plum for succession, supported the successful sale of the company and gave us confidence that the business was ready for its next chapter.
We would recommend Adapt to other owners who want to strengthen the foundations of their business, prepare for succession or build a company that is ready for a future transition or sale.