Profitable Commercial HVAC & Refrigeration - Cape Cod & Plymouth
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Established commercial HVAC and refrigeration service business serving restaurants, commercial properties, grocers, and a municipal client across Cape Cod and the South Shore of Massachusetts. The owners are retiring after building the company on reputation rather than advertising.
FINANCIAL SNAPSHOT
- LTM revenue (to Aug 2026): $733,840
- LTM seller's discretionary earnings: $427,923
- Revenue grew from $435K (2024) to $680K (2025), and is up 11% in 2026 year to date versus the same period last year
- Gross margin of 76% in 2026 year to date
- No debt, no payables. Books reconcile to the filed 2025 tax return.
WHY THIS BUSINESS
- Non-discretionary demand. A failed walk-in cooler at a restaurant in July is an emergency, not a quote request. The company answers calls 24/7 and attends refrigeration emergencies the same day.
- Diversified customers. 39 commercial customers are serviced every year. In 2025 the largest customer was 13% of sales, and the top three combined were 31%.
- Growth without marketing spend. Advertising was under $2,000 in 2025. New accounts, including a private-equity-owned company and five grocery stores, came by referral.
- Year-round work in a seasonal market. Cooling and refrigeration carry the summer, heating and oil-burner service carry the winter, and equipment replacements fill the shoulder months.
- Commercial-led. Non-residential customers were 86% of 2026 year-to-date sales.
- $92,700 in signed contracts as of September 2026.
WHAT CONVEYS
- All customer relationships and records, including a municipal maintenance contract (assignment subject to approval)
- 2021 Ford F-450 service truck with Reading body and liftgate (approx. $52,000)
- Approx. $22,000 of specialty tools and equipment
- Vendor pricing relationships, company name, phone numbers, and goodwill
- Inventory (approx. $20,000), purchased separately at cost
- Owner transition support for three months or longer
GROWTH OPPORTUNITIES
- Convert annual service relationships to written maintenance agreements
- Add a second technician and truck (2025 revenue was produced on one truck)
- Introduce after-hours pricing (emergency calls are currently billed at standard rates)
- Actively market Mass Save heat-pump and efficiency retrofits
- Bid on additional municipal maintenance contracts
- Add field-service and dispatch software (the business currently runs on QuickBooks and paper tickets)
IDEAL BUYER
An HVAC, mechanical, or refrigeration operator expanding into the Cape and South Shore, or an individual buyer who holds, or can hire someone with, a Massachusetts Refrigeration Technician license. The business rents workshop space that is not part of the sale. Its physical footprint is a stocked service truck, and the work is performed at customer sites.
DEAL TERMS
Asset sale. Asking $950,000 plus inventory at cost. Real property, cash, and receivables are excluded.
A detailed Confidential Information Memorandum is available to qualified buyers after signing an NDA. Please do not contact the business, its owners, or its customers directly. All inquiries go through Nova Exit Partners.
FINANCIAL SNAPSHOT
- LTM revenue (to Aug 2026): $733,840
- LTM seller's discretionary earnings: $427,923
- Revenue grew from $435K (2024) to $680K (2025), and is up 11% in 2026 year to date versus the same period last year
- Gross margin of 76% in 2026 year to date
- No debt, no payables. Books reconcile to the filed 2025 tax return.
WHY THIS BUSINESS
- Non-discretionary demand. A failed walk-in cooler at a restaurant in July is an emergency, not a quote request. The company answers calls 24/7 and attends refrigeration emergencies the same day.
- Diversified customers. 39 commercial customers are serviced every year. In 2025 the largest customer was 13% of sales, and the top three combined were 31%.
- Growth without marketing spend. Advertising was under $2,000 in 2025. New accounts, including a private-equity-owned company and five grocery stores, came by referral.
- Year-round work in a seasonal market. Cooling and refrigeration carry the summer, heating and oil-burner service carry the winter, and equipment replacements fill the shoulder months.
- Commercial-led. Non-residential customers were 86% of 2026 year-to-date sales.
- $92,700 in signed contracts as of September 2026.
WHAT CONVEYS
- All customer relationships and records, including a municipal maintenance contract (assignment subject to approval)
- 2021 Ford F-450 service truck with Reading body and liftgate (approx. $52,000)
- Approx. $22,000 of specialty tools and equipment
- Vendor pricing relationships, company name, phone numbers, and goodwill
- Inventory (approx. $20,000), purchased separately at cost
- Owner transition support for three months or longer
GROWTH OPPORTUNITIES
- Convert annual service relationships to written maintenance agreements
- Add a second technician and truck (2025 revenue was produced on one truck)
- Introduce after-hours pricing (emergency calls are currently billed at standard rates)
- Actively market Mass Save heat-pump and efficiency retrofits
- Bid on additional municipal maintenance contracts
- Add field-service and dispatch software (the business currently runs on QuickBooks and paper tickets)
IDEAL BUYER
An HVAC, mechanical, or refrigeration operator expanding into the Cape and South Shore, or an individual buyer who holds, or can hire someone with, a Massachusetts Refrigeration Technician license. The business rents workshop space that is not part of the sale. Its physical footprint is a stocked service truck, and the work is performed at customer sites.
DEAL TERMS
Asset sale. Asking $950,000 plus inventory at cost. Real property, cash, and receivables are excluded.
A detailed Confidential Information Memorandum is available to qualified buyers after signing an NDA. Please do not contact the business, its owners, or its customers directly. All inquiries go through Nova Exit Partners.
About the Business
- Years in Operation
- 3
- Employees
- 2 Full-time
- Currently Home Based
- Yes
- Facilities & Assets
- The business rents workshop and parking space owned by the sellers. The property is not included in the sale, but the sellers are open to discussing a separate lease or sale. The business does not depend on the space. Work is performed at customer sites, and the physical footprint is a stocked service truck.
Included in the sale:
- 2021 Ford F-450 service truck with utility body and liftgate (approx. $52,000)
- Specialty tools and equipment (approx. $22,000)
- Customer relationships and records, vendor pricing relationships, company name, phone numbers, online presence, and goodwill
Inventory of approximately $20,000 is purchased separately at cost. Cash, receivables, and the owners' personal vehicles are excluded.
An operator with an existing shop can relocate the business at closing. An individual buyer needs only a small industrial bay or storage unit. - Market Outlook / Competition
- The business serves commercial customers across Cape Cod and the South Shore, where refrigeration and HVAC service is non-discretionary. A restaurant or grocer with a failed walk-in cooler in peak season calls the contractor it trusts rather than collecting quotes.
Work runs year-round. Cooling and refrigeration peak in summer, heating and oil-burner service carry the winter, and equipment replacements are scheduled in the shoulder months. Ownership reports the region's year-round population has grown since 2020.
Licensed commercial refrigeration technicians are scarce in the region, which limits competition and supports retention. In 2025 the company lost a larger account that moved its work in-house and still grew revenue 56%.
The company competes on responsiveness: 24/7 emergency service, same-day response to refrigeration calls, and in-house handling of incentive and warranty paperwork. - Opportunities for Growth
- The business has grown with no sales function, no paid marketing, and one truck. A new owner has several ready levers:
- Maintenance agreements: 39 commercial customers are serviced every year, mostly without contracts. Converting them adds recurring revenue with no new customer acquisition.
- Second technician and truck: one person currently does all technical work. A second tech roughly doubles service capacity.
- Installations: 2025 showed strong install demand from the existing base.
- After-hours pricing: emergency calls are billed at standard rates today.
- Mass Save: actively market heat-pump and efficiency retrofits.
- Municipal work: an operator with bonding capacity can bid on contracts in other towns.
- Software: dispatch and field-service tools would add efficiency and reporting.
About the Sale
- Seller Motivation
- Owner is Retiring
- Transition Support
- The owner will provide a structured transition of three months, or longer if needed. This includes personal introductions to key customers and contract sites, a handover of vendor relationships and pricing, and a walkthrough of systems and service history.
The co-owner who runs the office will hand over scheduling, parts ordering, customer records, bookkeeping, and the warranty and Mass Save incentive processes during the same period.
After the initial transition, phone support and site availability are offered on terms to be agreed. For a credentialed buyer, the owner will also walk through the municipal bidding process.
Note: the business operates under the owner's personal Massachusetts Refrigeration Technician license, which does not transfer. The buyer, or someone the buyer employs, must hold this license.
Listing Info
- ID
- 2553923
- Listing Views
- 18
Attached DocumentsAttachment Disclaimer
Listing ID: 2553923 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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