Similar businesses sell at 1.2x to 5.3x SDE. Compare live listings and connect with sellers.
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Established HVAC Contractor – 51 Years in Business Highly reputable and long-established HVAC firm with over 51 years of successful operations. Approximately 80% of revenue comes from commercial contracts, serving a prestigious and diversified client base that includes schools, universities, banks, shopping centers, condominiums, hospitals, and government buildings. The company boasts an $8 million backlog of signed contracts extending through 2025 and 2026. Management team in place, and the seller is willing to remain for an extended period to support the new owner and qualify the business with his HVAC license, if needed. The business has organized books and records and should qualify for an investment (E-2) visa. Seller financing or SBA financing available for qualified buyers. Real estate available for $600,000.
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The company was established 16 years ago and currently maintains a database of 2,500 active customers. Its client base is primarily residential 90%, with 10% commercial, and it does not engage in new construction projects. The business's service offerings are divided between plumbing and remodeling 45% and HVAC 55%. Currently, the company has 110 active maintenance agreements. Accounting functions are managed using QuickBooks, while payroll processing is outsourced to ADP. The company utilizes Jobber as its CRM system.
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Amazing opportunity to own an HVAC company serving the San Bernardino County. The business is 95% residential, 5% commercial with no new construction or refrigeration. They have flat rate pricing in place, 560 maintenance agreements in place, and 3,500 active customers in their database. They have a CRM in place, payroll is handled in house, and extended warranties are outsourced.
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Fantastic opportunity serving the Greater Mercer County in NJ. They are 99% residential, with no new construction and less than 1% refrigeration. They have flat rate pricing in place, with 2,500 active customers serviced in the past 2 years. They have completed 190 changeouts in the last 12 months and the accounting system used is QuickBooks.
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Fantastic opportunity to own an HVAC company serving Southwest Michigan. They are 99% residential, with no refrigeration or new construction. They have 436 maintenance agreements in place, flat rate pricing and a CRM. They have 8,000 active customers, and have completed 318 changeouts in the previous 12 months.
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Amazing opportunity to own an HVAC company serving coastal Miami. They are 99% residential, 1% commercial with no new construction or refrigeration. They have 572 maintenance agreements, flat rate pricing, as well as a CRM in place. Their payroll is outsourced and have completed 35 changeouts in the last 12 months.
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Great opportunity to own an HVAC company serving Ross County, Ohio. They are 95% residential, 5% commercial with no refrigeration and <5% new construction. They have 620 maintenance agreements in place, 4,900 active customers in their database and their primary brand offered is Ruud.
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Amazing opportunity to own a residential HVAC company serving Los Angeles. They are 70% residential, 30% commercial and <5% refrigeration. The accounting software used is QuickBooks, payroll is handled in house, and there have been 18 change outs in the past 12 months.
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Amazing opportunity to own an HVAC company serving the St. Lucie county area. They are 90% residential, 10% commercial, with flat rate pricing in place. Payroll is handled in house, the accounting software used is QuickBooks and extended warranties are outsourced. This opportunity is great for anyone looking to get into the HVAC space.
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Fantastic opportunity to own a HVAC and Plumbing company serving most of South New Jersey. The company is 90% residential, 10% commercial with no refrigeration and less than 5% new construction. The split is 75% HVAC, 25% plumbing with flat rate pricing in place. There is a CRM in place, the payroll is outsourced to an accountant, and they use QuickBooks for their accounting system.
National transaction benchmarks for hvac 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 HVAC business acquisitions.
The most reliable indicator of HVAC business quality is the size and retention rate of its maintenance agreement (MA) base. Each MA typically generates $150-$300 in annual recurring revenue and produces 3-5x more replacement leads than non-agreement customers. Ask for MA count, renewal rate, and how long agreements have been in place. A business with 500+ active MAs and 80%+ renewal rate commands a significant premium over one without.
Businesses using flat-rate pricing are substantially more transferable than time-and-material shops. Flat-rate systems remove individual technician pricing discretion, making revenue more predictable, margins more consistent, and the business easier for a new owner to manage. When reviewing listings, flat-rate pricing is a positive signal. Time-and-material shops can be converted, but budget for a 6-12 month transition period.
Every state requires HVAC contractors to hold a valid license, and most are tied to a specific qualifying individual - typically the owner or a designated employee. When a business sells, the buyer must hold their own license, hire a licensed qualifier, or negotiate a transition period. Confirm the license situation early in diligence. Businesses where the owner is also the qualifier carry key-person risk that will directly affect valuation.
Residential HVAC businesses tend to be more transferable - customer relationships are distributed across thousands of households rather than concentrated in a few commercial accounts. Commercial-heavy businesses (50%+ commercial) warrant deeper diligence on contract terms, renewal dates, and whether contracts are assignable to a new owner. A residential business with a strong MA base and diversified customer geography is typically the most straightforward acquisition.
HVAC businesses are highly seasonal - revenue peaks in summer (cooling) and winter (heating), with shoulder months in spring and fall. Ask for monthly revenue breakdowns across at least two full years to understand the true seasonal pattern. Buyers who close during peak season may not see trough cash flow until months later. SDE calculations should normalize for seasonal working capital and owner compensation timing.
The presence of a modern field service CRM - ServiceTitan, FieldEdge, Housecall Pro - indicates the business has been run systematically rather than from the owner's memory. CRM-equipped businesses have documented customer histories, job costing data, and technician metrics that support a clean transition. Businesses without a CRM are not disqualified, but plan for 3-6 months of systems implementation post-close.
Answers to common buyer questions for this market.
