First-Timer Buys a $15m Business in Distress

Acquiring Minds · Sep 7, 2026 · 1h 23m

Mike Bourgeois bought an HVAC company bleeding $3m a year, all cash and no SBA, then cut $1.4m of costs in 2 weeks.

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Topics in Mike’s interview:

Led major Air Force medical practice

Found a search partner with complementary skill sets

Bet on distressed businesses with liquidation value

Found a deal through veteran ETA Slack

Speed beat the highest bid

Immediately cut $1.4M in annualized expenses

Raised gross margins from 7% to 49%

Shifted from silos to teamwork

Emphasis on ongoing staff…