This commercial HVAC service company based in the Southeast (“BRAVO”) provides replacement, retrofit, and maintenance services with no exposure to new construction. BRAVO currently focuses on state facilities, hospitals, K-12 schools, universities and other institutional facilities. They are fully licensed in their home state and adjoining state with many mechanical licenses. The Company has ±25 employees with a revenue/employee of over $450,000. BRAVO enjoys an EBITDA margin of 10%.
You’ll find BRAVO to be a high-integrity organization with a strong reputation for quality work. The Company has a solid management team in place today. The owner is late 50s and will stay on for 4-5 years post-close. Next generation leadership is in place and drives most of the daily operations. The owner seeks a growth equity opportunity where he can roll over some equity while also providing a similar opportunity for the younger managers. BRAVO’s experienced leadership, deep expertise, and core employee base put the Company in a fantastic position to expand their customer base and broaden their service offerings. The ideal partner has a platform in place and experience in the commercial HVAC industry to grow and professionalize the Company.
The Company operates in the Southeast from one core facility (4.3 acres). They are currently building a new 3,800 sq. ft. office space and will convert their existing office to warehouse space once construction in completed.
Market Outlook / Competition
The market for commercial HVAC replacement is competitive with other local/regional players working to win similar work. However, the Company differentiates itself by performing highly ethical and sound quality work. Where others seek to cut corners, BRAVO never compromises the quality they are known for. This has made them a trusted partner for the state facilities and educational institutions of their area.
With the COVID-19 pandemic, many facilities are turning their attention to the quality and efficiency of their systems. BRAVO’s diverse expertise and experienced team positions them to take advantage of these tailwinds to continue their growth.