No Room to Vent: First HVAC Roll-Up to File for Chapter 11

Air Pros is an HVAC company with a big growth story and a much bigger fragile foundation, where acquisitions were piling up faster than the company could truly absorb them. What happened was not just another bankruptcy, but a clear example of how a roll-up can start to break when integration and liquidity begin to fall behind.

1) Air Pros and the Promise of Growth 

2) Why HVAC Roll-Ups Are So Attractive

3) Where the Strategy Broke

4) Leverage and the Real Constraint

5) Road to Chapter 11

6) Where the Air Pros Case Stands