Similar businesses sell at 1.2x to 5.3x SDE. Compare live listings and connect with sellers.
Incredible heating and air business serving the Milwaukee and Southeastern Wisconsin areas. Well designed training in place, year over year growth, and no new construction exposure are just a few of the highlights of this fantastic business. Over 900 maintenance agreements in place, and 625 changeouts in the last 12 months. 70% residential 30% light commercial revenue mix. Currently operating with Service Titan and Quickbooks for accounting.
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35 year old residential heating and air business serving Westchester County and Greenwich Connecicut. Company focuses on the new construction market with high end builders. They do not do track housing, only custom homes. 85% of revenue is from new construction and 15% from service. Owner is willing to remain on to ensure a smooth transition for both clients and employees. Long term staff in place.
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For nearly forty years, this firm has been the go-to provider of evaporative cooling systems in the Coachella Valley by offering unparalleled sales, installation, and service. As the owner prepares for a well-deserved retirement, this highly profitable business with a stellar 5-star reputation and a robust online presence is ready for a new owner. This is a golden opportunity for the right individual to step into a thriving enterprise that’s already pre-qualified for SBA acquisition funding. With a solid foundation and a proven business model, you'll start seeing profits from day one. The business enjoys a steady stream of booked and scheduled daily calls, ensuring a manageable and predictable workload. Currently managed by the owner and two skilled technicians, this operation is seamless and efficient. Don't miss your chance to take over this well-established and respected business. For more details on this exciting opportunity, complete the "Contact Form" with your name and email to receive an NDA. Reach out today!
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Fantastic opportunity for someone looking to get into the industry, or grow their current one in the Myrtle Beach area. They are 90% residential, 10% commercial with no new construction or refrigeration. They have 95 maintenance agreements in place, 280 active customers in their database, and use QuickBooks as their accounting software.
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Amazing opportunity to own a residential HVAC company servicing the OKC Metro area. They are 70% residential, 30% commercial with no new construction or refrigeration. They have 129 residential, 7 commercial maintenance agreements in place. They have flat rate pricing in place, a CRM, and around 2,000 active customers in their database.
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Well‑established HVAC and trades company servicing the fast‑growing coastal region of Southeastern North Carolina. The company delivers full‑service HVAC, electrical, and plumbing solutions to both residential and commercial customers, with recurring service, retrofit, and light‑construction work. Built under the stewardship of a licensed unlimited electrical and H2/H3 HVAC contractor, this business has evolved into a professionally run, process-driven platform — supported by a trained field crew, strong brand reputation, and transferable trade licenses — that is a unique M&A opportunity, primed for scale. Key Investment Highlights Full-Service & Diversified Offering: HVAC, electrical, plumbing, indoor air quality (IAQ), duct cleaning, and maintenance — providing multiple revenue streams and resilience across economic cycles. Balanced Residential + Commercial Mix: Long-standing customer relationships across service, retrofit, and light construction drive recurring revenue and project‑based work. Licensing Advantage: Transferable unlimited electrical license and H2/H3 HVAC license enable immediate expansion into new markets within North Carolina. Scalable Infrastructure: Established operations, experienced management and technicians, and repeatable service delivery create a strong base for expansion. Flexible Seller Transition: Seller open to earn‑out, equity rollover, consulting or salaried role — offering continuity and institutional knowledge to facilitate growth or roll‑up strategies. A full Confidential Information Memorandum (CIM) is available to qualified buyers who sign an NDA.
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Commercial HVAC contractor that specializes in commercial maintenance contracts, new installs, and service. The owner is a generational HVAC contractor, and the business has been operating for over 23 years, with a long-lasting business account relationships, which will be transferred with the business. There is a staff of experienced technicians that maintain over 100 service contracts with 1000+ HVAC Commercial Units, servicing up to 90 Ton. The owner chose to focus on large commercial accounts for the ongoing monthly service revenue. However, there is opportunity to expand the commercial and also offering residential service. In fact, if you are able to assume the accounts and operate from you own location, then a lot of the expenses can be reduced to increase your bottom line.
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.
