Long Established, Profitable Commercial HVAC Contractor

Detail information about the listing

This as an asset sale and the asking price includes work in process (WIP), Accounts Receivable & Accounts Payable and a significant order backlog and bid submittals. A review of the consolidated year-end balance sheet as of 12 31 2021 indicates a “book value” of  5.6MM (conservatively neglecting Costs & Estimated Earnings in excess of billings on uncompleted projects of  1.1MM) and the business has a significant backlog of new business orders.

The owners are ready to retire and directed us to aggressively market the business. At the asking price of  6.5MM, the business value (“goodwill”) is ~ 700K, neglecting Costs & Estimated Earnings in excess of billings on uncompleted projects of  1.1MM. The asking price is dependant on the assets acquired as part of the transaction; e.g. should the seller retain AR the price would be adjusted.

This well-established, highly profitable enterprise is primarily a “build to print “mechanical HVAC contractor working on interior renovations, hospitals, hotels, high end restaurants, retail, banks, and other commercial projects, and works as a subcontractor to prime contractors.

The firm typically performs mechanical contracting work for between 25 to 30 clients annually, at multiple client facilities and has a strong management team in-place, assuring continued business success. Mechanical contracting accounts for over 90 percent of the annual revenue.

The company also provides conventional HVAC services to about 50 clients, providing routine maintenance, repair and new units for commercial accounts. The service business represents about 8 percent of sales and services for a variety of accounts.

The firm is a fully licensed and insured, full-service HVAC contractor and service business. In 2021, the firm provided contracting services to 27 accounts and HVAC service work to 51 accounts.

Please either directly respond to this ad and we will forward you the deal NDA or visit our website at www.raptbizbrokers.com for a complete list of our business opportunities and to fill out the online NDA (Rapt 5591).