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Long Established Profiable HVAC & Plumbing Company
NCListing DetailsOffice ID: HVAC5
Status: Coming Soon
Listing Broker: George Bradbury
Listing Price: $1,250,000
Gross Revenue: $3,346,155
Cash Flow: $334,000
12 Month Forecast: $4,075,000
Forecasted Cash Flow: $334,000
Inventory: $54,728
Inventory Included: Yes
FF&E: $258,230
FF&E Included: Yes
Acreage: 2 &1/2
Real Estate Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
Reason for Sale:
 Owner is retiring.
Training:
 To insure a successful transition for the buyer, the seller is willing to remain involved in the operations for a period of time.  He will work with the buyer to transfer his business knowledge and industry relationships which are unmatched in their market.
OperationsYear Established: 1948
Form of Ownership: S Corp
Employees (full-time): 29
Managers: 5
Business Hours: M-F 8a to 5p 24/7 service
Summary
Business Description:
 Owner is ready to retire and will work with a buyer for a seamless transition.  This company has been the go to enterprise for over 70 years for HVAC (60%) and plumbing (40%) needs.  With their dedicated and talented staff they service or replace units for their commercial (80%) and residential (20%) customers.  This business operates out of a 5,000 square foot office/warehouse building.  This fully certified firm operates in 11 cities market where they have top of mind awareness.  They provide both HVAC, plumbing services and environmental to their large commercial customers.  They currently have $2.5 million in signed contract for upcoming jobs.
Historical Summary:
 This company traces its roots back to the late 1940s.  Initially providing plumbing and heating services to commercial and residential customers.  Even before it was established as a formal company it’s founder introduced air conditioning to their market while working for his previous employer.
Owner Qualifications:
Buyer does not need to be HVAC licensed.  An electrical, H2 and H3 license are held by a key employees and committed to staying through the transition. Buyer should be proficient with Quickbooks, general HR, management, marketing, etc.
Competition:
There are several competitors in their market that do residential and light commercial jobs.  However, this company is by far the largest, best equipped, and has the skilled employees to bid and win larger commercial contracts (including bonded work).  The nearest completers are located over 1 hr. away.  
Potential Growth:
 The owner has restricted the work to mostly a 35 mile travel area (however the company has some “special customers” that exceed that limit).  He has also limited the job sizes to approximately $1,000 each (Plumbing & HVAC treated as separate jobs).  If a new buyer is willing to raise that amount there is more opportunity available.  This company works at several area hospitals (as well as their satellite clinics).  As the hospital(s) preferred vendor they, preform Plumbing, HVAC, & Medical Gas piping for maintenance work as well as new construction and renovations.  This company works for larger privately owned surgery clinics, adult care centers, schools (community collages, as well as K-12), and some factories.  This company does select military jobs for select contractors.  However the opportunity for additional military work is almost unlimited.  If a new owner is interested there are tract housing and new construction opportunities available also.  
LocationType of Location: Stand Alone
Monthly Rent: $8,000
Square Footage: 11475
Facilities:

 The business operates in a 5,000 sq.ft. office/warehouse building  (4,000 sq. ft. office FF & SF, 3,125 sq. ft. SF storage, 2,500 sq. ft.  FF storage, 1,850 sq. ft. heated and cooled metal shop. 1,500 sq. ft. covered parking/storage area.  There are two out buildings for equipment storage---one is 1.500 sq. ft. (three sided)   the other is 1,200 sq. ft.  (heated).  These buildings sit on approximately 2 ½ acres.  The owner of the company owns the real estate.  A buyer has the option of continuing to lease the facilities for $8,000 per month (triple net) or buying for the appraised value (as well as buying additional adjoining property up to 10 acres).

 


Last Updated: Dec 5, 2019 / 9:09 AM
Financial Information Current as of: Jul 21, 2019 / 8:05 AM
Real property represented by ENLIGN Commercial
2009 Caminos Drive, Raleigh, NC 27607
919-341-1100
ENLIGN Commercial