Patrick Lange, Business Modification Group
Mid-year numbers are in
In hindsight, the recent pandemic reminded buyers that heating and air service businesses are essential.”
— Patrick Lange
HORSESHOE BEACH, FL, UNITED STATES, August 17, 2022 /EINPresswire.com/ — Accomplished HVAC business broker, Patrick Lange of Business Modification Group released his anticipated mid-year HVAC sale market report today.
Despite increased discussion of an HVAC business consolidation slowdown. There is no evidence to suggest rising interest rates have had an impact on the acquisition market.
“We were unsure what was going to happen after the Fed increased interest rates. It would be logical to assume that with the cost of borrowing money higher, fewer deals would happen. However, so far, this has NOT been the case whatsoever. In fact, deal volumes have increased, and we are ahead of projections.” Those are the words of Lange, the industry’s leader in brokering deals between buyers and sellers.
He attributes the high demand to two things- Cash rich qualified buyers and market demand for recurring revenue service businesses.
He adds, “In hindsight, the recent pandemic reminded buyers that heating and air service businesses are essential. The HVAC business goes beyond being comfortable in your home. For many, it can be a matter of life and death.”
The buyer market is responding favorably to those HVAC businesses that place a priority on performed maintenance agreements (PMA’s) and less on relying on new construction revenue.”If an HVAC business on the market has anywhere close to 20% of overall revenues in maintenance contracts, they’ll be the first to sell.” Says Lange.
The fed is expected to meet again to discuss monetary policy September 20-21. Regardless of the outcome, Lange remains optimistic. “I think the HVAC sale market will remain strong throughout the year, but then again, my crystal ball works about as well as everyone elses.”
About Patrick Lange:
Patrick Lange is an experienced HVAC-specific business broker with Business Modification Group based in Horseshoe Beach, Florida. He has a unique background in financial planning and has even owned an HVAC business himself. This makes him well suited to working with some of the most successful HVAC business owners in the country. Specializing in companies with 1-10 million dollars in revenue, he maintains a network of buyers and sellers in the industry. He has sold more HVAC businesses than any other broker in the United States over the last 3 years and is currently the Vice President of the Business Brokers of Florida (North Florida District.)
Patrick has a Bachelor’s degree in Business Administration and Management from the University of Florida.
If you would like further comments or want to interview Patrick Lange, please call (352) 440-4604 or email Patrick@businessmodificationgroup.com.
Patrick Lange
Business Modification Group
+1 352-440-4604
email us here
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August 17, 2022, 18:06 GMT
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