NorthStar Mergers Completes Transaction of Commercial HVAC and Refrigeration Company
- Kim Bentson
- 2 days ago
- 2 min read
Early value-building and disciplined execution led to a strong outcome.
DALLAS, TX - NorthStar Mergers & Acquisitions announces that in early 2024, a long-established North Texas commercial HVAC and refrigeration company completed a change of ownership, joining the 17% of business owners who successfully complete a full transition.
For nearly three decades, the company has served the Dallas–Fort Worth Metroplex, providing repair, maintenance, and replacement services for commercial HVAC and refrigeration systems. Its strong reputation, loyal customer base, and consistent financial performance positioned it well for transition after years of operational discipline and relationship-driven growth.
The transaction closed 96 days after the letter of intent, including 35 days of formal due diligence. The business sold for 99% of the original asking price, reflecting strong buyer interest and confidence in the company’s fundamentals.
Advisory Perspective
The transaction was led by Tom Bronson, Founding Partner at NorthStar Mergers & Acquisitions, who emphasized that early preparation was a decisive factor in the successful outcome.
“This outcome didn’t happen by accident,” said Tom Bronson, Managing Member. “The owner did the work years in advance, closing value gaps, strengthening operations, and building a business that didn’t rely solely on them to function. When it was time to sell, buyers saw a stable, scalable company they could step into with confidence. That preparation is what separates the 17% from everyone else.”
Key drivers of the successful transition included:
A predominantly commercial customer mix with long-standing client relationships
Consistent revenue from repeat customers and referrals
Above-industry-average profitability and revenue per technician
A debt-free balance sheet and streamlined operations
A thoughtful transition plan to support continuity post-close
The business grew through reputation and relationships rather than formal marketing, creating immediate opportunities for the new owner. With strong demand in the North Texas commercial HVAC and refrigeration market, the company is well positioned for continued growth under new leadership.
This transaction shows that successful exits begin long before a business is listed. Intentional value-building earns owners membership in the 17% Club™.
About NorthStar Mergers & Acquisitions
Based in Dallas, Texas, NorthStar Mergers & Acquisitions guides business owners through one of the most significant financial and emotional journeys of their lives, the sale of a company. Specializing in lower middle-market transactions across multiple industries, NorthStar combines deep valuation expertise, strategic marketing, and buyer engagement to ensure every client achieves their dream exit.
Visit www.NorthStar-Mergers.com to learn more about how NorthStar helps business owners navigate their ideal transition.
Media Contact:
Kim Bentson
NorthStar Mergers & Acquisitions
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