How to Sell Your HVAC Business Without a Broker (2026)
A broker takes 8% to 12% on a typical HVAC sale. On the $800,000 median shop, that is $64,000 to $96,000. The buyers paying the most for HVAC companies are a list of about a dozen names.
Three things make HVAC different from a general business sale:
- Your best buyers have acquisition teams. They buy shops every month and do not wait for a broker to call.
- Maintenance agreements are what they are buying. A broker cannot build those for you, and they set your multiple.
- Who holds the certifications matters. That question decides deals, and no broker can answer it on your behalf.
What a Broker Costs on an HVAC Sale
The rate falls as the price rises, so the percentage bites hardest on the smallest shops.
| Your sale price | Typical rate | What the broker takes | A lawyer instead |
|---|---|---|---|
| $800,000 | 8% to 12% | $64,000 to $96,000 | $5,000 to $15,000 |
| $2 million | 6% to 8% | $120,000 to $160,000 | $10,000 to $25,000 |
| $6 million | 5% to 6% | $300,000 to $360,000 | $25,000 to $60,000 |
Most contracts also carry a minimum fee of $15,000 to $50,000, which matters if your shop sits at the small end. See the full breakdown of what brokers charge.
HVAC Buyers Do Not Need an Introduction
A broker’s main job is finding buyers. In HVAC, the buyers who pay the most are already public, already funded, and already hunting.
| Buyer type | Names | What they want | How to reach them |
|---|---|---|---|
| Investor-backed platforms | Apex, Wrench Group, Sila, Redwood, Champions Group | $1M+ profit, residential, agreements | Their websites list an acquisitions contact |
| Public companies | Comfort Systems, EMCOR | $10M+ profit, commercial | Corporate development, listed publicly |
| Regional roll-ups | Smaller groups buying two to six shops a year | $300K to $1M profit | Trade press and supplier reps know them |
| The competitor nearby | The two or three shops you already know | Your customer base and techs | You have their number already |
The reason they buy so steadily is arithmetic. Blackstone paid about $2.5 billion for Champions Group in February 2026, roughly 18.5 times profit.
A buyer valued at 18 times can pay you 6 or 7 and still profit on the day it closes. That gap is why they keep calling shops like yours.
What the Broker Did, and How You Replace It
None of this needs a license. All of it needs doing, and most of it takes evenings rather than months.
| The broker’s job | How you do it | Time it takes |
|---|---|---|
| Price the business | A free valuation, plus our HVAC multiples page | A week |
| Write the sales packet | Ten to twenty pages, three years of numbers | Two weekends |
| Find the buyers | The table above, plus your own competitor list | An afternoon |
| Screen them | Ask for proof of funds before sharing numbers | One email each |
| Keep it confidential | A signed agreement before anything goes out | One lawyer call |
| Push it to closing | A deal lawyer who has closed trades businesses | $5,000 to $15,000 |
The part people skip is running the approaches together. Contact everyone within three weeks so the interested buyers arrive at the same time.
Single-buyer HVAC deals typically leave 20% to 30% on the table. On an $800,000 shop, that is more than any commission you avoided.
The Two Things a Broker Cannot Fix
These decide HVAC deals, and both are yours to solve months before anyone makes an offer.
Who holds the refrigerant certifications
The federal refrigerant certification belongs to the technician, not to your company. It walks out with them.
If you are the only certified person and you are leaving at closing, buyers discount the price or hold money back.
- Document who holds what before you go to market, not when a buyer asks.
- Get a second person certified if the answer is only you.
- In Philadelphia and Pittsburgh, the city license is tied to a named person. If that is you, the deal needs a transition period.
Whether your techs stay
Turnover is the most common reason an HVAC deal falls apart once a buyer starts checking. They will ask for three years of tenure data.
The gap between 60% and 85% retention is worth one to two turns of profit. No broker moves that number. You do, over a year.
When a Broker Is Worth Paying
Three situations, and they are real. Skipping the fee is not always the right call.
- You cannot name three buyers. If the table above means nothing to you and you know no competitors, you are paying for reach.
- You have no time at all. A sale takes 6 to 12 months of evenings. Busy season does not pause for it.
- Your books are a mess. Someone has to rebuild three years first, and that is worth paying for either way.
Even then, compare the quote against the six alternatives to a broker before you sign a twelve-month exclusive.
Get Your HVAC Numbers Straight First
Everything above assumes you know what the business is worth and who pays the most for it. These pages cover both.
- What you should get: HVAC sale multiples and valuation by size.
- Who pays it: investor-backed versus strategic buyers, and how each structures an offer.
- How long it runs: the HVAC sale timeline, phase by phase.
- What you keep after tax: asset sale versus stock sale.
- Selling in PA or NJ: Pennsylvania and New Jersey each add licensing and tax steps.
For the process itself, step by step and not HVAC-specific, see selling a business without a broker.
Across the wider market, sellers who go to market prepared achieve 87% of their benchmark price or better. Preparation is the variable you control.
Frequently Asked Questions
Yes, and it is easier in HVAC than in most trades. The buyers paying the most are about a dozen named platforms and public companies, all with acquisition teams you can contact directly. You pay a deal lawyer instead of a commission.
8% to 12% under $1 million, 6% to 8% from $1 million to $5 million, and 5% to 6% above that. On the $800,000 median shop that is $64,000 to $96,000. Most contracts also carry a $15,000 to $50,000 minimum.
Investor-backed platforms like Apex Service Partners, Wrench Group, Sila Services and Champions Group. Public companies such as Comfort Systems and EMCOR buy the larger commercial firms. All of them publish an acquisitions contact.
Only if you talk to one buyer. Price comes from competition. Single-buyer HVAC deals typically leave 20% to 30% behind, whoever made the introduction, so approach everyone on your list inside the same three weeks.
No. Federal refrigerant certification belongs to the technician, not the company, so it leaves when they do. Document who holds one before going to market. If you are the only certified person, get a second tech certified first.
Six to twelve months from decision to closing, the same as a brokered sale. A prepared seller talking to a platform buyer can close in 60 to 120 days. Preparation is what shortens it, not the broker.
A deal lawyer, usually $5,000 to $15,000 on a smaller sale and more above $2 million. Often an accountant to clean up three years of books. That is the whole bill, and both are worth paying.
Yes. They employ people whose entire job is buying shops like yours, and an owner approaching directly is normal to them. Get a confidentiality agreement signed before you send numbers, and talk to several at once.
Next Steps
- Write your buyer list. Start with the platforms in the table, then add every competitor within an hour’s drive.
- Check who holds the certifications, and fix it now if the answer is only you.
- Pull three years of numbers and your maintenance agreement count. Both get asked for first.
- Line up a deal lawyer before anyone makes an offer, not after.
- Get a free valuation and buyer introductions. No commission, no exclusive, no obligation to sell.