✉ michael@homesteadsp.com📍 Chicago, IL
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Commercial HVAC · Chicagoland

Sell Your Commercial HVAC Business Without Losing What You Built.

If you’re a commercial HVAC owner thinking about selling in the next 1 to 5 years, we buy and operate service companies across Chicagoland. No private equity games. No flipping your team.

Chicagoland HVAC Market · 2026
3× – 7×
Typical EBITDA multiple range for commercial HVAC
$1M – $2M revenue 2.5× – 4.5×
$2M – $4M revenue 3.0× – 5.5×
$4M – $7M revenue 3.5× – 6.5×
$7M+ revenue 4.5× – 8.0×
Calculate My HVAC Business Value →
Why HVAC Owners Choose Homestead
Built specifically for commercial HVAC.

We don’t buy restaurants, car washes, or laundromats. We buy commercial HVAC service businesses because that’s what we know how to operate and grow.

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HVAC Industry Focus
We understand commercial HVAC service agreements, seasonality, technician recruitment, equipment lifecycles, and what actually drives value in this industry.
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Chicagoland Market Knowledge
We know this market, the commercial building landscape, the labor pool, and the competition. We’re not random out-of-state buyers parachuting in.
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Trades Background
Michael didn’t study the trades from a conference room. He built businesses from the ground up and knows what it takes to run a team, make payroll, and grow revenue.
Who This Is For
The kind of HVAC businesses we are best built to buy.

We are usually the best fit for owner-led commercial HVAC service businesses in Chicagoland that have a strong reputation, a loyal team, and an owner who wants a real succession plan, not just the highest headline number.

Good fit characteristics
Commercial HVAC service contractors in Chicagoland or nearby markets
$1M to $10M+ in annual revenue
Strong service agreement base or repeat customer relationships
Experienced technicians and field leadership already in place
Owners thinking about retirement, succession, or stepping back in the next 1 to 5 years
What owners usually care about most
Keeping their team employed and respected
Protecting the name and reputation they built over decades
Getting a realistic valuation, not a fantasy number that dies in diligence
Having flexibility on transition timing and post-close involvement
Talking directly to the buyer instead of a broker chain or junior analyst
HVAC Valuation Drivers
What makes your HVAC business more valuable.

Not all HVAC businesses are valued the same. These factors usually push the multiple higher and most owners have more of them than they think.

Maintenance Contracts +0.6×
Recurring service agreements are one of the biggest value drivers in commercial HVAC. A business with strong recurring revenue usually commands a higher multiple than one running mostly on project work.
Owner Independence +0.5×
If your business can run without you in the field every day, with a strong service manager, office team, and lead techs, it is generally worth more to a buyer.
Licensed Technicians +0.25×
Experienced HVAC technicians are hard to recruit and harder to keep. A stable team creates immediate value because the labor is already in place.
Diversified Customers +0.35×
No single commercial customer representing too much of total revenue lowers buyer risk. Lower risk usually means a better multiple.
Revenue Growth +0.3×
Even modest year-over-year growth signals a healthy company with demand. Flat or declining revenue raises more questions during diligence.
Established Reputation +0.4×
A long-standing reputation, repeat customers, and name recognition in the market all matter. Reputation is an asset and good buyers pay for it.
Why We Built Homestead
Because too many owners have bad exit options.

Too often, a great commercial HVAC owner spends decades building a real company, only to find that the buyers at the table care more about spreadsheets than people. The brand gets folded in. The culture gets stripped out. The team gets treated like a line item.

Homestead was built to be a different kind of buyer. We want to preserve what is already working, take care of the people who helped build it, and give owners a real transition path they can feel good about.

The Homestead Difference
What happens when you sell your HVAC business to us.
Private Equity
✗ Rebrands your company under a platform name
✗ “Restructures” your team to cut costs
✗ Flips the business in 5 to 7 years
✗ Junior associate runs the deal
✗ Financing contingencies can kill the deal
Homestead
✓ Your name stays on every truck
✓ Good people stay in place
✓ Built to be owned and operated long term
✓ You sell directly to Michael, the actual buyer
✓ No broker maze and no junior analyst theater
How It Works
From first call to closing day.

A transparent process designed around your timing, not ours.

1
Confidential Call
A quick conversation with Michael. No pitch deck. No pressure.
Step 1
2
Valuation Review
We review financials, ask smart questions, and give you a realistic view of value.
Step 2
3
Offer & Diligence
If there’s a fit, we structure an offer and move through diligence without turning your business upside down.
Step 3
4
Close & Transition
We close the transaction and build a transition plan that fits your goals and protects your team.
Step 4
Michael Mayes
Operator
Long-term buyer
Your Buyer
Michael Mayes, not a fund.

Michael is a Chicago entrepreneur and operator. If you reach out, you are speaking directly with the person evaluating the opportunity, structuring the deal, and planning to own the company long term. Not a fund. Not a broker chain. The actual buyer.

20+ years of operational experience
Built from the trades, from laborer to owner
Chicago-based and focused on service businesses
Straight answers and direct communication
FAQ
Common questions from HVAC owners thinking about selling.
How long does it take to sell an HVAC business?
Most transactions take several months, depending on your readiness, financial records, and how quickly diligence moves. Some owners start conversations well before they want to close.
Do I need to stay on after the sale?
Not always. Some owners want a clean exit. Others prefer a transition period. The structure should fit both the business and your goals.
How is my HVAC business valued?
Value usually comes down to EBITDA, recurring revenue, customer mix, owner dependence, technician depth, and the quality of your financials. A strong service base and stable team usually increase value.
What happens to my employees?
Continuity matters. The goal is to keep good people in place, protect the customer experience, and build on the reputation you already created.
Do you only buy large HVAC companies?
No. We are interested in quality owner-led commercial HVAC service businesses across a range of sizes, especially those with strong customer relationships and room to grow.
Can I talk to you even if I’m not ready to sell yet?
Yes. That is often the best time to start. If you are thinking about selling in the next one to five years, it makes sense to have the conversation now.
Start Here
Ready to find out what your HVAC business is worth?

Whether you’re ready to sell or just exploring, Michael will give you honest, straight answers about your commercial HVAC business. No pitch. No pressure.

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Location
Chicago, IL — serving Chicagoland
Prefer to talk live?
Book a free 20-minute call. No prep required.
View Michael’s Calendar →
Confidential HVAC Inquiry
Michael responds personally, usually within a few hours
🔒 100% confidential. Never shared with third parties.
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