Sell Your HVAC Company in Ohio
We help Ohio HVAC owners sell. Residential service and replacement, commercial mechanical, refrigeration, and mixed shops. Most of our clients run between $2 million and $30 million in revenue.
We work throughout Central Ohio, including Columbus, Dublin, Westerville, New Albany, and the surrounding counties. HVAC attracts private equity-backed platforms, regional groups, and individual operators, but each buyer looks for a different size and type of company.
The process is confidential from the first conversation. Your technicians, your suppliers, and the shop down the road do not find out you are exploring a sale.
With HVAC, two questions carry a lot of weight: how much revenue repeats, and can the company run without the owner in the truck?
How HVAC Company Businesses Are Valued
Smaller HVAC companies are valued on SDE, which is net profit plus owner compensation, personal expenses, interest, depreciation, and one-time costs. Larger companies are valued on EBITDA, which does not add back an owner's salary because the buyer will pay someone to do that work.
The crossover generally happens around $1 million of adjusted earnings. Above that level, lenders and private equity-backed buyers usually work from EBITDA.
Maintenance agreements, replacement revenue, strong average tickets, an experienced service manager, stable technicians, good reviews, and clear job costing can support a higher multiple.
Weather-driven revenue, low-margin new construction, technician turnover, customer concentration, and an owner who sells every large job can reduce it.
The table uses completed private HVAC company sales reported by BVR DealStats.
These figures are a reference point, not a valuation. The size of the company, the quality of its earnings, and current buyer demand all matter. We review three years of financials and the add-back schedule before giving an owner a range.
| Metric | Average | 75th Percentile |
|---|---|---|
| SDE multiple | 3.1x | 3.7x |
| EBITDA multiple | 7.0x | 7.0x |
| Revenue multiple | 0.56x | 0.69x |
Based on 440 private company transactions.
Source: BVR DealStats. Private company transactions with $250K to $10M in revenue, closed 2016 to present. Multiples are MVIC (total price) divided by SDE, EBITDA, or revenue.
What Buyers Look For
Maintenance agreements. The count, the renewal rate, and the revenue per agreement. This is the closest thing an HVAC business has to recurring revenue, and buyers pay a premium for it.
Service versus new construction mix. Service and replacement carry better margins and repeat. New construction is lumpy and thin. A higher service share generally prices better.
Technician headcount and retention. Buyers are buying capacity. Tenured, licensed, drug-tested techs who stay through the transition are a major part of the value.
Average ticket and close rate. Reported by job type. It tells a buyer whether the sales process is systematic or dependent on one person.
Customer concentration. Thousands of homeowners is a strong position. Three property management companies is a risk the buyer will price in.
Call volume and lead sources. Where your work comes from, and whether it survives a change of ownership. Reviews, brand, and a paid search history all transfer. Personal referrals to the owner may not.
Fleet and equipment condition. Truck age, mileage, and maintenance. A fleet due for replacement is a price adjustment.
Owner dependence. If you still run calls, quote the big jobs, or handle every escalation, the buyer discounts. A dispatcher and a service manager change the conversation.
Common Problems That Kill Deals
Cash sales off the books. Unreported revenue cannot be valued. Buyers pay for earnings they can verify from tax returns and bank statements.
Technician misclassification. Paying techs as 1099 contractors when they work as employees is a liability the buyer inherits, and it surfaces during diligence.
Warranty exposure. Undocumented open warranty obligations on installs create an unpriced future cost. Track them and disclose them.
EPA and licensing gaps. Refrigerant handling certifications and state licensing have to be current and held by people who are staying.
Unassignable maintenance contracts. If your agreements cannot transfer to a new owner, the recurring revenue a buyer is paying for may not come with the deal.
How the Sale Process Works
- Valuation. We review three years of financials, build the add-back schedule, and compare the business with similar sales. You get a range and the math behind it.
- Preparation. We deal with reporting gaps, contract issues, customer concentration, and owner dependence before buyers begin their review.
- Confidential marketing. A blind profile goes out to vetted buyers. Names are released only after a non-disclosure agreement and a check on the buyer's ability to fund.
- Letter of intent. We compare offers and negotiate the price, structure, escrow, and transition terms before you sign.
- Due diligence. The buyer verifies the financials, contracts, employees, and operations. We manage the document requests and keep the advisors moving.
- Closing. Final documents, funding, and handover. Most prepared businesses close six to nine months after going to market.
Frequently Asked Questions
How much is my HVAC company worth?
It depends on adjusted earnings, the share of revenue that is service and maintenance, and how much of the business depends on you. We give you a specific range after reviewing three years of financials, not before.
Is now a good time to sell an HVAC business?
Buyer interest in HVAC has been strong for several years, with private equity backed platforms actively acquiring in Ohio. Strong demand does not mean every business sells well. Preparation still decides the price.
Do private equity buyers pay more?
Sometimes, and usually only above a certain earnings threshold. They also structure differently, often with rollover equity or an earnout. We show you the full picture, not just the headline number.
What happens to my technicians?
In almost every HVAC deal the buyer wants the crew to stay. Capacity is the whole point of the acquisition. Retention terms for key staff are usually part of the negotiation.
How long does the sale take?
Six to nine months from going to market to closing is typical, with preparation before that.
What are your fees?
Success based, paid at closing out of the proceeds. No upfront listing fee.