I was reminded recently of the consolidation storm that hit the HVAC industry in the late 1990s. We all know what happened. Without exception, the consolidated companies and utility spin-offs ended up flopping around the marketplace without fulfilling their vaunted potential.
This has brought with it a certain smugness among many service contractors in the HVAC industry. Their thought process is along the lines of: "We're hot stuff. The MBAs can't figure out this business. Only we who grew up in the trade know what it's all about. Now let's get back to business as usual."