Gulf Coast HVAC Provider, Lee County FL Residential & Commercial

Full Editorial Writeup

This is a home-based HVAC contractor operating since 2009 in Lee County, Florida, serving the affluent Gulf Coast corridor around Naples and Fort Myers. The company works both residential and commercial jobs, with a wealthy residential base that pays for prepaid projects and a growing commercial book the seller says provides continuity in revenue and operations. On $1.4M of revenue it throws off $544K of owner cash flow, a 39% SDE margin that is strong for a small trades business and suggests a lean cost structure with the owner playing a central operating role.

The deal is priced at $1.2M, a 2.2x cash flow multiple that is reasonable for HVAC and includes $145K of FF&E. With only six full-time employees and a home-based footprint, this is a small, tightly run operation rather than a large fleet business. The affluence of the service area matters: high-end residential clients in Southwest Florida run their AC year-round, replace systems on preference rather than pure necessity, and tolerate premium pricing.

What is notable is the margin profile combined with the low asset intensity. There is no real estate and no heavy equipment package inflating the price, so a buyer is paying essentially for the customer relationships, brand, and cash flow. The reason for sale is a move rather than distress, which is a cleaner setup than a fire sale, but it also means the buyer must quickly understand how much of the current cash flow depends on the departing owner's personal relationships and technical involvement.