For businesses valued from $5M to $100M+
Considering selling your HVAC business?
Mechanical and HVAC contractors are among the most actively acquired businesses in the country. What that means for your company comes down to a handful of things buyers examine closely.
- Service versus new construction mix
- Maintenance agreement renewal rate
- Residential versus commercial
- Technician tenure
- Route density
- Customer concentration
- Adjusted EBITDA add-backs
- Fleet condition
- Owner involvement in estimating
Which type of buyer is right for you depends less on the multiple than on what you want afterward. That is a conversation worth having before you go to market, not during.
- Earnings that were never normalizedAdd-backs get argued down when they are first raised in diligence
- A single buyer, negotiating aloneWith no competing offer, there is nothing to price against
- Too much of the number in an earnoutTied to metrics the owner no longer controls after closing
Where HVAC owners lose value
Almost always in the same three places, listed alongside. None of them are inevitable, and all three are decided before a letter of intent is ever signed.
Request a confidential HVAC valuation.
An advisor who works in the mechanical trades will review your business and give you a real range, along with what would move it.
- No cost, no obligation, strictly confidential
- Grounded in what HVAC buyers are paying now
- Useful whether you sell next year or in five