Special Situation - Service HVAC Biz in MT

Came across an interesting opportunity with an HVAC business in Montana wanted to share with the community.
This business got way over their skis in 2022/2023 by entering new construction and got crushed (overstaffed, higher than expected material costs etc###-###-#### racked up a lot of debt.

The business is out of new construction entirely and is back to its roots - service.
Closed out 2024 with $250K of EBITDA on $3m in revs###-###-#### revs were $3m as well),
Q1/25 ebitda margin at 18% trending up. The numbers are solid - I had them do a professional QOE to validate everything.
They need to sell to pay off personal loans and are willing to be flexible on structure.

Was thinking one way to do a deal like this to give them [1x] EBITDA upfront payment, and then some sort of upside over the next 2 years. The owner (the son ) is willing to stay on for 2 years at minimal salary to ensure the biz fully recovers and achieves those milestones.

Would you ever look at a deal like this? I think it can have a very attractive R/R if structured properly.

Curious to get y'alls thoughts and if interested please DM me to chat more.