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Established over 20 years ago, this reputable plumbing contractor provides commercial and residential plumbing services across its local region in Montana. The company is known for its strong community reputation, repeat customer base, and extensive database of thousands of past clients. Operations are supported by a team of five full-time employees including the owner, delivering consistent performance and high customer satisfaction.
Add-On Opportunity: Bozeman, MT Based / Residential Plumbing, Boiler & Heating Services / $675K Adj. EBITDA / 27.8% Margin / No New Construction Founded in 1985 and headquartered in Bozeman, Montana, the Company is a residential-focused plumbing, boiler, and heating-services contractor serving homeowners across the Gallatin and Paradise Valleys of southwest Montana. Approximately 75% of revenue is residential, split between recurring service and repair work and equipment replacement. The Company provides 24/7 plumbing and heating services, including emergency repairs, drain and fixture service, boiler and furnace repair, water-heater service and replacement, tankless-system installation, boiler replacement, repiping, and remodel plumbing for existing customers. The Company deliberately exited open-market new construction in 2009 and has since concentrated on residential service, repair, and replacement, where demand is recurring and margins are more attractive. New-construction work is accepted only for established customers. The remaining approximately 25% of revenue comes from recurring commercial-maintenance relationships, providing diversification without changing the Company’s residential-service orientation. Operations are supported by 11 personnel, including seven field employees, four licensed plumbers, three apprentices, a general manager, and two office employees. The Company also operates nine late-model service vehicles stocked to support first-visit completion. The general manager is a master plumber who already runs daily operations and intends to remain following the transaction. Key KPIs - **Residential revenue:** Approximately 75% - **Residential service and repair:** Approximately 60% of residential revenue - **Residential replacement:** Approximately 40% of residential revenue - **Commercial maintenance:** Approximately 25% of total revenue - **Open-market new-construction exposure:** None - **LTM July 2026 revenue:** $2.43 million - **LTM adjusted EBITDA:** $675,000 - **LTM adjusted EBITDA margin:** 27.8% - **Adjusted EBITDA excluding estimated run-rate items:** $625,000 - **Corresponding adjusted EBITDA margin:** 25.8% - **FY2025 revenue:** $2.42 million - **FY2025 adjusted EBITDA:** $598,000 - **FY2025 adjusted EBITDA margin:** 24.8% - **FY2025 revenue growth:** 39.6% - **Revenue CAGR (FY2019-FY2025):** 14.3% - **Seven-month 2026 revenue growth:** 0.6% - **Seven-month 2026 EBITDA growth:** 36.0% - **Customer retention:** Approximately 85%, per management - **Largest customer:** 9.9% of FY2025 revenue - **Top-five customers:** 22.9% of FY2025 revenue - **Personnel:** 11 - **Field personnel:** 7 - **Licensed field plumbers:** 4 - **Apprentices:** 3 - **Operating service vehicles:** 9 - **Average operating-fleet model year:** 2024.6 - **Emergency availability:** 24/7 - **Operating history:** 41 years - **Days sales outstanding:** 27 days ### Recent Performance Revenue increased 39.6% in FY2025, from $1.73 million to $2.42 million, following the successful addition of technician capacity. LTM July 2026 revenue remained effectively flat at $2.43 million, preserving the prior year’s increase in scale. Through the first seven months of 2026, revenue increased 0.6%, while reported EBITDA increased 36.0%. The earnings improvement was driven by a greater mix of core service labor, a 10.3% reduction in field wages, and overhead that did not increase with revenue. Residential Add-On Opportunity The Company represents an attractive add-on for a residential HVAC, plumbing, electrical, or multi-trade home-services aggregator seeking immediate entry into the Mountain West. An acquirer would gain an established residential brand, a broad homeowner customer base, licensed plumbing and boiler capabilities, a modern service fleet, and second-generation management already running daily operations. The business has several familiar home-services value-creation opportunities.
National transaction benchmarks for building and construction business businesses.
Under $500K
$500K to $2M
Over $2M
A variety of factors can cause businesses to trade outside this range, including earnings quality, operational transferability, key-person risk, growth trajectory, and geography, so a listing priced above or below the typical multiple usually reflects real differences in the underlying business.
Cofounder & CEO
Key diligence, valuation, financing, and transition considerations for buyers evaluating building and construction business acquisitions.
Signed contracts, change-order patterns, and bonding capacity tell you what you're really buying; a big trailing year with an empty pipeline is a trap, and bonding is often tied to the owner personally.
Many trades require a licensed qualifier that may leave with the seller. Verify what you must hold before you can legally operate.
A plumbing or HVAC company with a service-and-maintenance base is worth far more than one living on new-construction bids — service agreements generate steady recurring revenue and replacement leads.
Receivables, retainage, and work-in-process tie up real cash between billing and collection; establish the need and whether it's in the deal.
The estimator, project managers, and lead crews carry the business. Identify the key people, their pay, and retention after close.
Trucks, heavy equipment, and related-party rent distort earnings. Tour the fleet, check deferred maintenance, and stress the discretionary earnings.
Answers to common buyer questions for this market.
