Maine HVAC Group, Two-Business Combination, $3.6M EBITDA

Full Editorial Writeup

This is a packaged combination of two established Maine HVAC businesses with complementary geographic footprints across overlapping Maine counties. Together they produce roughly $18.1 million in revenue and about $3.6 million in EBITDA, run by 50 people (39 full-time employees and 11 contractors) out of two Maine locations. The seller is marketing this as a ready-made platform for a strategic buyer to consolidate, cross-sell, and expand technician capacity across the state.

The pitch centers on unmet demand. Management states that current demand exceeds available technician capacity in certain markets, meaning work is being turned away or deferred simply because there are not enough techs. The thesis is that a buyer can add qualified technicians to immediately capture revenue that already exists, then layer in cross-selling across both customer bases, better technician utilization, and operating efficiencies to push EBITDA past $4 million before making another acquisition.

HVAC is a genuinely durable service category built on install, repair, replacement, and recurring maintenance work that customers cannot easily defer, which supports the roughly 20 percent EBITDA margin shown here. The listing frames this as a foundation for a longer-term Maine roll-up, with sellers willing to roll some equity and stay on for 12 to 18 months. The buyer is essentially underwriting an integration and hiring story on top of two operating companies that already throw off real cash.