Similar businesses sell at 1.2x to 5.3x SDE. Compare live listings and connect with sellers.
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8-year-old HVAC business located in Northwest Indiana with a 4.9-star Google rating and 5.0-star Facebook rating. Year over year revenue and profit growth have followed their business model primarily focused on Residential and Light Commercial HVAC Replacement, Installation and Repair. They have a substantial number of clients on installation labor contracts with spring and fall tune-ups, which leads to additional service work. 98% residential No refrigeration No new construction
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Amazing opportunity to own an HVAC company located in Prince Georges county. They are 80% residential, 20% commercial with no new construction or refrigeration. They have a CRM in place, flat rate pricing, and 150 maintenance agreements. The accounting system used is QuickBooks, 30 changeouts in the last 12 months, and the split is 65% plumbing, 35% HVAC.
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Fantastic opportunity to own a multi-trade company that serves the Greater Lansing area. They are 90% residential, 10% commercial, with 20% new construction. The business split is 30% plumbing and 70% HVAC, with no refrigeration. They have flat rate pricing in place, 400 maintenance agreements, and approximately 3,700 active customers in their database. They have a CRM in place, use QuickBooks for their accounting system, and outsource the payroll to a CPA.
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Fantastic opportunity serving the NE California area. They are 95% residential, 5% commercial with <12% new construction and no refrigeration. They have flat rate pricing, a CRM in place, and 560 maintenance agreements. They have completed 150 changeouts in the last 12 months and 5,453 customers in their database.
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35-year-old residential heating and air company serving Northern Indiana and Southern Michigan. 35-year track record of providing quality service to long term customers. Well trained staff in place. The business currently has 80 active maintenance agreements in place and has completed 204 HVAC system change-outs over the past 12 months. Approximately 95% of revenue is generated from residential customers, with little to no refrigeration work performed. Less than 10% of the company's revenue is derived from new construction projects, resulting in a business model that is primarily focused on service, repair, and replacement work. The company primarily offers equipment from Amana and Rinnai and maintains a database of more than 3,100 active customers. Included in the sale is approximately $40,000 of inventory. Financial records are maintained using QuickBooks, and payroll administration is outsourced through ADP. The business does not currently utilize a CRM system, presenting an opportunity for operational enhancements and customer relationship management improvements. Additionally, there are no pending lawsuits or workers' compensation claims, providing buyers with confidence in the company's legal and operational standing.
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This HVAC company is a premier South Florida provider of heating, ventilation, and air conditioning services, with a 48-year track record of delivering exceptional installation, maintenance, and repair solutions to both residential and commercial clients. Renowned for its professionalism, reliability, and customer-focused approach, the company has built a strong reputation and long-standing relationships throughout South Florida. The company’s experienced and highly trained technicians service and install leading HVAC brands, including Carrier, Rheem, Ruud, Trane, Goodman, Lennox, and Ameristar. Customer & Revenue Mix Residential Customers: 60% Commercial Customers: 40% Customers on Recurring Maintenance Contracts: 35% Revenue from New & Replacement Installations and Service: 70% Revenue from Maintenance Services Only: 30% Staffing Structure The business is supported by a well-established and experienced team consisting of: 7 Full-Time Qualified Field Technicians 4 Full-Time Office Personnel, including: Owner/General Manager Spouse/Office Manager Two Administrative Staff Members are responsible for billing, scheduling, permitting, product ordering, warranty registrations, and customer support 1 Independent 1099 Contractor utilized on an as-needed basis The company maintains excellent books and records. Seller financing is available for qualified purchasers. Although not included in the asking price, the real estate, consisting of the company’s office and warehouse condominium, is available for separate purchase at $650,000. Should the buyer choose not to acquire the property, the seller is willing to facilitate a favorable long-term lease arrangement for continued occupancy and operational stability.
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Fantastic Opportunity to own an HVAC company serving the Pinellas county area. They are 95% residential, 5% commercial, with <5% new construction and no refrigeration. There are 159 maintenance agreements in place, a CRM, and approximately 3,349 active customers in their database.
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This is a great family owned Louisville, Ky business that has been operating since 2019. They specialize in commercial refrigeration and HVAC repair. The staff is highly skilled and is able to repair all types of refrigeration from stand up refrigerators to large walk-in freezers and coolers. Their client list is extensive and consists mostly of single unit and multi unit restaurants. They perform work for some of the largest restaurant brands in the United States. The business has increased its revenue close to 20% for each of the past 3 years. Phenomenal growth!! This business is full of potential and just needs the right ownership to take it to the next level! A typical job begins with a service call, followed by on-site troubleshooting and diagnosis. When replacement parts are needed, the owner sources the necessary components and returns to the customer’s site to complete the repair. Most jobs are completed within approximately 3 to 4 hours, creating an efficient and flexible service model with limited facility overhead. The business is currently run by one owner/operator and his tech team. Its home-based model keeps overhead low while allowing the company to respond directly to customer needs in the field. This presents a strong opportunity for a buyer seeking an owner-operated service business or a strategic add-on in the commercial refrigeration, restaurant equipment repair, or HVAC service sectors.
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Established Specialty HVAC Business – New England An exceptional acquisition opportunity in the specialty HVAC sector. This well-established, full-service company has built a strong regional reputation over multiple decades of continuous operation, serving a diverse and loyal customer base of more than 5,000 commercial and industrial clients across New England. The business operates as a single-source provider, offering turnkey solutions that span the full project lifecycle — from initial consultation and system design through equipment supply, installation, and ongoing maintenance and service. This end-to-end capability creates a natural competitive moat and drives recurring service revenue from an established book of business. Business Highlights: - Long operating history with a well-recognized regional brand - Diversified customer base ranging from small businesses to Fortune 500 companies - Recurring revenue from service contracts and equipment maintenance - Turnkey model covering design, distribution, installation, and service - Annual revenues in the range of $2.4M – $3.6M - Weighted average Seller's Discretionary Earnings (SDE) of approximately $500K - Attractive SDE margins in the 15–20% range Ideal Buyer Profile: This opportunity is well-suited for an owner-operator seeking an established platform with an existing customer base and proven revenue streams, or a strategic acquirer looking to expand their regional footprint in the specialty HVAC or industrial services space. Private equity groups and search fund operators with an interest in essential services businesses will also find this an attractive platform. Transition: The seller is committed to ensuring a smooth transition and is prepared to provide a reasonable transition and training period to support continuity of operations and customer relationships. All inquiries are subject to NDA and buyer qualification. Business identity and detailed financials will only be disclosed to approved, qualified buyers. The owner is approaching retirement and is motivated to complete a transaction on a reasonable timeline. Qualified buyers are encouraged to move forward with confidence — this is an opportunity that will not remain available indefinitely.
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Fantastic opportunity to own a multi-trade company located in Northeast Virginia. The business split is 89% HVAC, 9% plumbing, and 2% electrical. Revenue comes from 90% residential and 10% commercial customers. No new construction or refrigeration! Flat-rate pricing structure in place, 2,200 maintenance agreements, and 16,000 active customers in their database. Their CRM is Service Titan, and extended warranties are outsourced.
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.
