{
  "title": "Buying or Selling an HVAC Business: Prices, Buyers, How to Sell",
  "url": "https://acquisitions.com/blog/buying-or-selling-an-hvac-business/",
  "author": "Moran Pober",
  "publisher": "Acquisitions.com",
  "published": "2026-10-23",
  "updated": "2026-10-23",
  "section": "Sector guide",
  "keyword": "buying or selling an HVAC business",
  "short_answer": "HVAC companies sell for a multiple of earnings that rises with size. IBBA's Q4 2025 Market Pulse puts closed deals at 2.0x SDE under $500K and 5.5x EBITDA at $5M to $50M. Under about $2M the buyer is usually a person with an SBA loan. Above that, private equity platforms and public contractors compete. Maintenance agreements, a licensed team and clean books move the price most.",
  "facts": {
    "Under $500K": [
      "SDE",
      "2.0x"
    ],
    "$500K to $1M": [
      "SDE",
      "3.0x"
    ],
    "$1M to $2M": [
      "SDE",
      "3.1x"
    ],
    "$2M to $5M": [
      "EBITDA",
      "4.1x"
    ],
    "$5M to $50M": [
      "EBITDA",
      "5.5x"
    ]
  },
  "sources": [
    "https://www.ibba.org/wp-content/uploads/2026/02/market-pulse-highlights-q4-2025.pdf",
    "https://acquisitions.com/data/asking-multiples/",
    "https://www.bls.gov/ooh/installation-maintenance-and-repair/heating-air-conditioning-and-refrigeration-mechanics-and-installers.htm",
    "https://www.sba.gov/funding-programs/loans/7a-loans",
    "https://legacy.sba.gov/document/sop-50-10-lender-development-company-loan-programs",
    "https://www.apollo.com/insights-news/pressreleases/2026/05/apex-service-partners-and-alpine-investors-announce-strategic-mi",
    "https://am.gs.com/en-us/institutions/news/press-release/2024/sila-services-investment",
    "https://www.sec.gov/Archives/edgar/data/1035983/000110465925101818/fix-20251023xex99d1.htm"
  ],
  "license": "Facts may be quoted with attribution to Acquisitions.com and a link to the url above."
}