Closed transaction · April 2019
Lex Air Conditioning and Heating
MDR & Associates took Lex Air Conditioning and Heating, an air conditioning and heating company, through to closing in April 2019.
The transaction
- ClosedApril 2019
- SectorHome services
- TradeHVAC
- LocationPlano, Texas
- Founded2004
- BuyerPrivate equity group
- Engagement to closing120 days
- Represented byMDR & Associates
- Todaylexairconditioning.com
The company today, in its own words. Cooling, heating, plumbing and electrical services for homeowners across the Dallas-Fort Worth metroplex, headquartered in Plano and trusted in DFW since 2004.
The sale
How it ran
Lex Air Conditioning and Heating, an air conditioning and heating company in Plano, came to us 120 days before it closed in April 2019. It was sold to a private equity group, found through the same confidential process every company we represent goes through: a blind profile, buyers qualified before they learn the name, and more than one at the table where the company draws them.
What that buyer examined is what any buyer of HVAC companies examines — the factors below, in that order.
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Find out what a buyer would pay for it today. A confidential opinion of value from the firm that sold Lex Air Conditioning and Heating — free, with no obligation, answered the same business day.
Get a free valuation snapshotWhat decided the price
What buyers look at in an HVAC company
Maintenance agreements
The closest thing this trade has to recurring revenue. Buyers ask for the number of active agreements, the renewal rate, and what share of replacement jobs come from those customers.
Replacement against new construction
Residential service and replacement earns a higher margin and repeats. Builder and new-construction work follows the housing cycle, so buyers value it lower.
Who holds the license
A Texas HVAC company operates under an air conditioning and refrigeration contractor license issued by TDLR. If that license is yours personally, the buyer needs a licensed person in place before closing, not after.
The full list, and who the buyers are: Selling an HVAC company in Texas.
The record
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