Michigan Plumbing And HVAC Company

Business Overview:

This family-owned Michigan Company has been servicing and installing plumbing and heating and cooling equipment for residential and commercial customers for more than a quarter-century. The owners have built and maintained an honest reputation by following responsible business practices, delivering high-quality work at a fair price, and attracting and retaining talented, experienced employees. Many of the contractors and developers it serves have been working with the Company for over 20 years. Its service territory contains many large, waterfront homes and an abundance of new construction. The Company has the capacity and experience to take on projects both large and small, and its facilities provide room for growth and are well-placed near major highways to better serve its many customers.

Property Features and Assets:

The owners recently purchased a new office and completely renovated it inside and out. In addition to the 2,500 square feet of office space, the two buildings at the site include 7,500 square feet of heated warehouse and another 7,500 square feet of insulated cold storage. That space could handle double the Company’s current sales, with an increase in office and field staff. They lease part of one of their buildings to other parties, which use it for storage. The buildings and land are available for lease or purchase, along with the Company sale. The real estate is owned by a related third party.

Market Competition and Expansion:

Booming sales – The Company's backlog for 2023 is almost full, as demand has continued to be strong. Established customers – The Company has a base of more than 3,000 clients, all within a 120-mile radius of its headquarters. Construction ties – The Company has deep, long-term relationships with contractors and developers in its service area. Its top 10 builder-customers have been working with the Company for an average of 19 years. Prime location – The Company is perfectly located to serve the region’s large, waterfront homes and its abundance of new construction. Experienced, trained staff – Key management personnel have been with the Company for an average of more than 12 years. Technicians are updated and certified with classes and schooling on product and industry changes. Broad capabilities – The Company is right-sized to take on projects both large and small. Increased marketing – The Company has grown continuously as its satisfied customers provide word-of mouth referrals. Adding a website and sales and marketing efforts could boost business, if the Company hired more technicians and office staff to increase production capacity. Room to grow – The Company recently moved to a new, larger facility which could handle double the Company’s current sales. Untapped potential – The region provides multiple opportunities for more service work and for drain cleaning, among other things.

Reason for Selling:

Retirement

Additional Details:

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