Blind Ad - Project Oaisis

[PENDING SALE] Residential HVAC Contractor ($2M+ EBITDA)

North Carolina
    • Asking PriceNot Set
    • Revenue$8,479,000
    • Adj. EBITDA$2,039,000
    • Inventory$58,000
    • Established2002
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CONTACT THE BROKER

Jonah P- Reduced-2
Jonah Pollone

Business Description
Update 5.6.2024: Final buyer inquiries have been accepted into the process. New inquiries will now be placed on a waitlist for this transaction. Conducting final buyer/seller meetings by 5/10/2024.
 
NOTE: Buyers with existing HVAC platform or private equity group with HVAC experience will be considered. Individuals will not be considered. Confidential listing. Working capital included in sale price. 

 

Management Team in Place

Strategically located in a desirable area of North Carolina, this residential HVAC contractor is one of the finest in its market area. Current ownership has plans for continued stabilization and growth of revenue and is interested in staying on with a buyer for several years to continue leading operations. See below for the highlights about this incredible opportunity:

Financial Summary:

• TTM Revenue*: $8,479,000 | Adj. EBITDA: $2,039,000
• 2023 Revenue: $8,432,000 | Adj. EBITDA: $2,017,000
• 2022 Revenue: $8,144,000 | Adj. EBITDA: $1,307,809

• 2021 Revenue: $7,044,000 | Adj. EBITDA: $1,329,000

* *Trailing Twelve Month (TTM) period through January 2024

2023 Revenue by Category:

• Retro-Fit and Install: 49%
• Residential New Construction: 35%
• Service: 16%

Customer Concentration Summary:
• Customer 1: 4.7%
• Customer 2: 3.3%
• Customer 3: 3%
• Customer 4: 3%
• Customer 5: 2.9%

Opportunity Highlights:

  • Consistent, clean financials
  • >1,300 annual maintenance contracts
  • Well-maintained equipment and strong branding
  • Owner committed to staying on to see the business succeed
  • Seasoned leadership team with experienced technicians and quality staff
  • New construction revenue derived entirely from custom home builders
  • Company uses ServiceTitan, QuickBooks Desktop Enterprise, and other tools
  • Seller’s deal team (MidStreet, attorney, & accountant) have transaction experience

Buyers with existing HVAC platform or private equity group with HVAC experience will be considered. Individuals will not be considered. Confidential listing. Working capital included in sale price.

Real estate for lease offered by MidStreet Realty. Seller will extend NNN lease to buyer.

To learn more about this unique opportunity, please complete the form on this page. You will then receive an email with a link to the MidStreet Buyer Application. After submitting the Buyer Application our team will review and follow up with a Non-Disclosure Agreement, assuming buyer criteria is met. You will then gain access to the Virtual Data Room which includes the Confidential Information Memorandum (CIM), Marketing Video, and Financial Databook. We look forward to working with you.

Note: A few non-financial figures (building square feet, etc.) have been slightly modified to protect the confidentiality of our client.

INVENTORY

Included in asking price 

Furniture, Fixtures, & Equipment (FF&E)

Included in asking price

Employees

34

Real estate

7,000 square feet. Owned, for lease (offered by MidStreet Realty)

GROWTH & EXPANSION

Continuing company’s recent efforts toward building maintenance & service revenue, targeting middle income customers, improving marketing channels, and taking further advantage of already implemented tools and technology.

Competition

While competition exists, this business has set out to offer a higher level of service, equipment quality, and expertise than its competitors.

Support & Training

Owner is interested in rolling equity and committed to staying with the right group for 2+ years.

Reason for Selling

Diversify financial holdings and support company’s growth with experienced investors.

Anderson Air Success Story

Success Story: Anderson Air - Wilmington NC

Seeking growth, Anderson turned to MidStreet Mergers & Acquisitions for their expertise in finding the perfect partner and local knowledge. Led by M&A Advisor Jonah Pollone, the MidStreet team conducted a comprehensive evaluation and outreach process to find a compatible partner in business models, corporate culture, and long-term goals.
See Their Story