The subject company specializes in design build, plan, and spec commercial and residential HVAC. The company also provides 24-hour emergency service; annual maintenance agreements; new equipment installation; duct work fabrication and installation; and ventilation systems. Our client’s on-site sheet metal shop allows it to fabricate custom ducting, architectural, and general sheet metal.
The subject’s provides all aspects of HVAC contracting services across the spectrum of customer types. Commercial customers comprise the largest portion of annual revenue, while residential customers and service contracts comprise smaller but consistent portions of annual revenue. Commercial projects are typically larger and longer, while residential projects may be smaller and shorter in time frame, but are consistently spread across many customers providing greater operating stability and efficiency that leads to significant referrals.
The company employee base consists of 51 full-time highly experienced and knowledgeable, non-union and union affiliated HVAC contracting and service professionals. Our client employs estimators and project managers responsible for maintaining and supporting strong relationships with all customers, especially commercial customers. The company utilizes rapid and modern marketing and business development strategies that include a website, social media, and videos. This marketing and business development approach is highly unique to our client and largely innovative for industry as a whole.
The company’s revenue increased from $10,519,000 in FYE 2014 to $14,854,000 in the fiscal year ending April 30, 2016, representing a compound annual growth rate of 18.8%. For the fiscal year 2017, our client is conservatively forecasted to grow 21.2% to $18,000,000. The company’s EBITDA increased from $1,369,000 in FYE 2014 to $1,856,000 in FYE 2016, representing a CAGR of 16.5%. For the fiscal year 2017, the subject is projected to increase EBITDA to $2,471,000 or 13.7% of sales.
Historically, our client’s revenue growth was attributed to the company’s superior quality, service, dependability, and ability to complete complex, fast track projects. Growth in the market was also attributed to increased new construction and renovations in its geographic market. Additionally, EBITDA during this period improve due to the company’s lean operations and economies of scale.
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