Central NC Commercial & Residential HVAC Contractor, Decades-Old North Carolina Operator

$12.6M

Revenue

$1.4M

SDE

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Full Editorial Writeup

Located in Central North Carolina, this heating and air conditioning company has provided installation, replacement, and maintenance services for several decades. Serving general contractors,... Businesses Franchises Brokers a6301374279843840.cdn.optimizely.com a6301374279843840.cdn.optimizely.com is blocked This page has been blocked by an extension Try disabling your extensions. ERR_BLOCKED_BY_CLIENT Reload This page has been blocked by an extension Loading... Central NC Comm. & Residential HVAC Contractor North Carolina Asking Price:Not Disclosed Cash Flow (SDE):$1,442,103 EBITDA:Not Disclosed Gross Revenue:$12,612,569 Established:Not Disclosed Central NC Comm. & Residential HVAC Contractor Business Description Strong backlog with growing residential mix Located in Central North Carolina, this heating and air conditioning company has provided installation, replacement, and maintenance services for several decades. Serving general contractors, commercial real estate agents, and homeowners, the business maintains a healthy pipeline (with an estimated 2026 revenue of $15 million and EBITDA of $1.8 to $1.9 million) and an established regional presence. While historically generating the majority of its revenue from commercial new construction, the company has actively shifted its project mix over the last couple of years. This operational shift features a growing volume of residential services and system replacement work, blending commercial and residential revenue streams to capture consistent demand in the local housing market.The turnkey operation is supported by a scaled technical workforce, including experienced field technicians, installation professionals, and a dedicated management layer. Operations are centralized in a sizeable standalone commercial facility designed for equipment storage and administrative functions, with immediate highway access. The purchase includes a multi-vehicle service fleet and all necessary equipment to execute both large-scale commercial contracts and recurring residential service calls.The SDE shown includes a rent charge of $79,380, is based on the Last Twelve Months through May 31, 2026, and is for a full-time owner-operator. The real estate is being offered for sale or lease by Murphy Business & Financial – Carolinas, LLC in conjunction with the sale of the business for $950,000, or an annual lease rate of $79,380. Ad#:2535680 Detailed Information Inventory: $2,500Included in asking price Furniture, Fixtures, & Equipment (FF&E): $479,000 Included in asking price Employees: 61 Full-time Facilities: Operating from a sizeable standalone commercial facility, this established contractor supports regional demand. The property offers equipment storage and administrative space, with immediate access to the highway. Competition: The heating and cooling sector experiences steady growth, driven by consistent replacement cycles and energy-efficiency upgrades. Operating within a fragmented regional market, this company relies on a decades-long reputation to secure recurring service requests. Growth & Expansion: New ownership can expand its geographic reach by serving a wider regional area and adding new technical trades, such as electrical installations. Increased digital advertising and structured maintenance programs offer immediate pathways to amplify recurring revenues. Support & Training: Will train for 4 weeks @ $0 cost. Reason for Selling: Retiring. Business Location Real Estate: Leased Building SF: 10,872 Listing Statistics Saved This Listing Listing Last Updated Appeared in Search Listing Detail Views BizBuySell EDGE Know the True Market Value Before You Make an Offer Get valuation data to negotiate with confidence. Get a Valuation Report Business Listed By: Ron Buck Murphy Business & Financial Corporation View My Listings Phone Number 336-750-6089 Voice only (no SMS) Ad#:2535680 The information in this listing has been provided by the business seller or representative stated above. BizBuySell has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness. Read BizBuySell's Terms of Use before responding to any ad. Learn how to avoid scams. Contact Form Full Name* Enter a valid Full Name Phone Number* Enter Phone Number Email Address* Enter Email Address Purchase Timeframe 1-3 Months 3-6 Months 6+ Months Optional Message Yes, send me the Buyer Newsletter for popular businesses, tips, & email promotions. Optional: Check if you want to use IRA/401k funds ($75K+) to buy a biz - Guidant will call Send Message By clicking the button, you agree to BizBuySell’s Terms of Use and Privacy Notice Business Listed By: Ron Buck Murphy Business & Financial Corporation View My Listings Phone Number 336-750-6089 Voice only (no SMS) Your request has been sent. What Happens Next? is reviewing your details. A representative will reach out soon to discuss your options. Expect a response in 1-2 business days. 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Why we like it

Earnings quality is solid with $1.44M SDE on $12.6M revenue, and the SDE is already burdened with a full $79,380 rent charge and reflects a full-time owner-operator, so the number is conservative rather than dressed up. The LTM basis through May 2026 and a stated 2026 forecast of $1.8M to $1.9M EBITDA on $15M revenue suggests the trailing figure understates near-term earning power.
The moat is a decades-long regional reputation in a fragmented local market, which is exactly where entrenched HVAC contractors win recurring service requests without heavy marketing spend. With 61 full-time employees and a dedicated management layer, the operation is not owner-dependent for daily execution, which protects continuity through the transition.
HVAC is genuinely recession-resistant because replacement cycles and energy-efficiency upgrades keep demand steady regardless of the economy. The deliberate shift from cyclical commercial new construction toward residential replacement and recurring maintenance reduces the single biggest risk in this business, which is a construction slowdown.
Central North Carolina is a Sunbelt growth market with strong housing demand, and the operator advantage here is real: a fully staffed technical workforce, a fleet, and a facility with highway access. A buyer inherits a scaled platform rather than a founder juggling a truck and a phone.

How to improve it

Aggressively build structured maintenance agreement programs to convert one-time residential replacements into recurring contract revenue. The listing explicitly calls this out as a pathway, and maintenance contracts lift both margin and enterprise value at exit by making cash flow predictable.
Continue rebalancing away from commercial new construction toward residential service and replacement work, which the business has already started. This reduces backlog volatility and revenue lumpiness, and residential service typically carries better gross margins than large commercial installs.
Layer in adjacent trades such as electrical installations, which is a natural extension given the workforce and fleet already in place. Cross-selling electrical to the existing HVAC customer base increases revenue per job and average ticket without new customer acquisition cost.
Invest in digital advertising and a modern lead-generation funnel, explicitly named as an immediate opportunity. A decades-old contractor with a reputation moat but weak digital presence is leaving residential replacement volume on the table to newer, more aggressive competitors.
Implement field service management software and dispatch optimization to lift technician utilization across the fleet. With 61 employees, even a few points of scheduling and routing efficiency drop directly to EBITDA and improve response times on service calls.
Negotiate the facility purchase at $950k versus the $79,380 annual lease, which implies a sub-9 percent cap rate on rent already baked into SDE. Owning the real estate captures the rent charge and gives the buyer a financeable hard asset alongside the operating business.

Diligence notes

Scrutinize the commercial versus residential revenue split over the last three years and the composition of the current backlog. The forecast jump to $15M revenue and $1.8M to $1.9M EBITDA needs to be tied to signed contracts and committed work, not optimistic pipeline assumptions.
Verify the workforce stability and wage structure across the 61 employees, especially the dedicated management layer that will run the business post-close. In a retiring-owner sale, key technician and manager retention is the single biggest execution risk, so review tenure, compensation, and any non-competes.
Confirm the fleet condition, ownership status, and maintenance capex on the multi-vehicle service fleet and the $479k of FF&E. A large services fleet carries real replacement cost, and deferred maintenance would meaningfully reduce the true owner earnings versus reported SDE.
Assess customer concentration among general contractors and commercial real estate clients, since commercial new construction historically drove the majority of revenue. A handful of GC relationships walking after the sale could impair the backlog and the forecast, so quantify top-account exposure.
Evaluate the real estate decision carefully by comparing the $950k purchase price and the $79,380 lease against local market comps and the buyer's capital structure. The rent is already deducted in SDE, so understand exactly how each scenario changes financeable cash flow and total capital outlay.

Source

Originally listed on BizBuySell. View original listing →