Environmentally Responsible HVAC and Energy Management Business

Established in 1989, this is a leading provider of HVAC installation, preventative maintenance and energy management services in the Miami area. The business specializes in design-build project work for industrial and commercial applications, including rooftop units, computer rooms, refrigeration systems and DDC control systems. The business’ skilled team of mechanical HVAC contractors has over 75 years of combined experience in the industry. Consequently, the business has developed a loyal customer base with several clients having been with the business since its inception. Due to its comprehensive expertise, the business can procure components and customize services to meet client-specific expectations and enhance its energy efficiency. The business does not spend on advertising and generates new business primarily through word-of-mouth referrals. The business has performed well financially, demonstrating a five-year revenue growth of approx. 10%/year and an average 5-year normalized EBITDA of 26% Industry demand in the HVAC industry remains robust due to ongoing HVAC maintenance requirements and strong growth in non-residential construction in major metropolitans, including the Miami-Dade and Broward counties. In addition, emphasis on climate change and corporate social responsibility driven by government incentive programs will push corporations to upgrade to more efficient systems. Due to these catalysts, aggregate industry revenue is forecast to grow at an annualized rate of 1.3% over the five years to 2023 to reach $11.9 billion. This is an excellent turn-key acquisition opportunity for a related mechanical contracting business seeking to diversify its scope of services through horizontal integration.