Vertical Intelligence
HVAC Home Services
Intelligence Hub
Home services are the hottest vertical for 2026 acquisitions. But without auditing the maintenance agreement "attach rate" and tech dispatch efficiency, you're buying a headache, not an asset.
EBITDA Multiple
4.0x - 6.5x
Higher for Service vs. Install
Recurring Revenue
20% - 35%
Maintenance Agreements
Tech Retention
> 85%
The #1 deal killer
Avg. Ticket
$450 - $650
For Service/Repair
Service vs. Install
The Multiple Arbitrage
In HVAC, all revenue is not created equal. "Install" revenue (replacing units) is a one-time transaction with high CAC. "Service" revenue (maintenance plans) is recurring, high-margin, and drives the 6.0x+ multiples seen in private equity roll-ups.
Maintenance Agreement "Attach Rate" should be >30%.
Service technicians should generate 3-4x their fully-loaded cost.
Dispatcher-to-Tech ratio should be 1:5 for peak efficiency.
Due Diligence Checklist
Installation Heavy Mix
If >70% of revenue is new construction or replacement, the business is highly cyclical.
Master License Dependency
If the license stays with the seller and no tech is licensed, you can't operate day 1.
Unbilled Work Orders
Messy dispatch software often hides thousands in uncollected "van stock" and labor.
Competing with PE?
Private Equity firms are buying HVAC businesses at record speeds. Learn how to identify the deals that roll-up buyers overlook because of messy dispatch data.
Foundation Intelligence
The Three Master Pillars
Every successful acquisition starts with these three fundamental concepts. Master the math and the risks before signing an LOI.
SDE Mathematics
Learn the formula for Seller’s Discretionary Earnings and how to normalize cash flow.
Due Diligence Red Flags
7 critical red flags that kill small business deals instantly during diligence.
Revenue Verification
How to verify business revenue without blindly trusting the seller’s P&L statements.