Most HVAC businesses in Canada change hands at a multiple of their normalized earnings, typically EBITDA (earnings before interest, taxes, depreciation, and amortization), adjusted for owner add-backs. The multiple itself depends on your size, location, growth trajectory, and how much the business depends on you, the owner.
Buyers pay a premium for HVAC companies with recurring maintenance contracts, licensed technicians who stay after a sale, and a steady mix of residential and commercial demand. Seasonal swings, heavy owner involvement, and aging equipment tend to pull offers in the other direction.
Pushes the number up
- Recurring maintenance and service agreements
- Licensed technicians who stay through a transition
- Diversified customers, with no single client over ~10% of revenue
- Clean books and consistent, documented margins
Pulls the number down
- Heavy reliance on the owner for sales or fieldwork
- Seasonal or one-off project revenue with little recurring base
- Aging trucks, tools, or equipment due for replacement
- Customer concentration or one dominant referral source
You put in your numbers. We show you two things.
Market data: Sector-specific transaction multiples based on aggregated business transaction reports. Updated quarterly.
Peer benchmarks: Estimates from verified owners in your sector and size range. See what similar businesses are worth, and compare your own expectations against market data and transaction multiples.
Takes about three minutes.
No pitch. No account required. Just your numbers in, and market context out.
Get My InsightsMost HVAC businesses are valued as a multiple of their normalized EBITDA (earnings, with owner add-backs). The multiple depends on your size, recurring service revenue, growth, and how much the business depends on you. Clariva shows the current benchmark range for a company your size and province.
Multiples vary with size and quality of earnings. Larger companies with recurring contracts and a stable crew sit toward the higher end, while smaller, owner-dependent shops sell lower. Enter your numbers to see the range that applies to your business.
Yes. Maintenance agreements make future cash flow more predictable, and buyers reward that with a higher multiple than project-only revenue.
No. The estimate is for benchmarking and context only, and does not replace a formal business valuation. For a transaction, work with an M&A advisor or a Chartered Business Valuator (CBV).
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Not financial advice. Clariva is a data aggregation and compilation tool. All ranges shown on this platform are derived from publicly available transaction data and anonymized user submissions, and are provided for informational and benchmarking purposes only. Nothing on this platform constitutes a formal business valuation, financial advice, or a recommendation to buy or sell. Consult a qualified M&A advisor, Chartered Business Valuator (CBV), or legal counsel before making any financial or transactional decisions. Individual data is never shared or sold. Anonymized, aggregated insights may be used for industry research. You can request deletion of your data at any time by emailing tanner@clariva.ca.