Thinking about selling your HVAC business?
Start with clarity.
This is where commercial HVAC owners figure out what their business may be worth, who they should sell to, and what the process actually looks like. No fluff, no theory, and no broker-speak. Just direct guidance from someone who buys and operates these companies.
The Complete Deal Map
Blackstone paid 18.5× EBITDA. Goldman bought Sila at $1.7B. Bain took Service Logic. Five platform deals in 18 months. Here is every transaction that matters, what buyers are actually paying by size, and where Chicagoland commercial owners sit in the cycle.
Valuation, buyers, timing, and what actually moves a deal.
These articles are written for commercial HVAC owners who want better decisions, not more noise. Read them in any order, but most owners start with market research or valuation, then move into buyer selection, timing, and transition planning.
Learn the profit × multiple formula buyers actually use, what counts as a real add-back, and how to benchmark against the Chicago market.
Service agreements, key-man risk, and clean financials are the levers that usually move your multiple the most.
Six questions to ask before you sign anything, and why the right buyer matters as much as the right price.
The best exits usually start earlier than owners think. Here is what prepared sellers do differently before they ever go to market.
The NWC peg can move your closing proceeds by real money. Here is how it works and how to protect yourself.
The largest single deal in HVAC history just closed at 18.5× EBITDA. A direct signal that institutional money now treats independent HVAC as a premier asset.
Compare 11+ named US acquirers side by side, understand every deal term before you sign, and navigate the six succession paths most owners never get explained clearly. The full pillar guide.
More articles on market research, buyers, selling, and preparation
A $700B market, recession resilient, and still highly fragmented. Institutional money is paying attention to HVAC for a reason.
You built it from the ground up, but something has shifted. These are the signals owners usually notice right before they get serious.
Your team stays, your brand stays, and the deal structure is cleaner. Here is how selling to an operator differs from selling to PE.
Recurring revenue, clean books, customer concentration, and owner dependence all affect what buyers are willing to pay.
The first 90 days, your team, your brand, and your role. Here is what transition actually looks like after closing.
Clean books, recurring service revenue, strong people, and documented systems are what owners should focus on first.
On a $3M deal, the difference between a lump sum and an installment sale can be $176,000 in taxes — same price, different structure. Illinois sellers face a 4.95% flat rate with no capital gains preference, which makes this especially relevant.
Blackstone $2.5B, Goldman $1.7B, Bain $1B+. Five platform deals in 18 months. Every major transaction, what buyers pay, where Chicagoland owners fit.
Find what matters
to your situation.
Some owners want valuation first. Others want to understand buyers, timing, or transition. Browse by topic, or skip the reading and go straight to a confidential conversation.
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