What did Comfort Systems USA pay for Ivey Mechanical Company, LLC?

$79.1M, equivalent to 9.9× EBITDA / 0.51× revenue. Target revenue was approximately $155.0M. Target EBITDA was approximately $8.0M.

ACQUIRED · 2021

Who Acquired Ivey Mechanical Company, LLC?

Comfort Systems USA · $79.1M· 9.9× EBITDA

The acquisition

Ivey Mechanical Company, LLC (Kosciusko, MS) was acquired by Comfort Systems USA in 2021 for $79.1M. Mechanical contractor providing HVAC and mechanical services in Mississippi and surrounding states. The deal was priced at 9.9× EBITDA / 0.51× revenue.

Ivey Mechanical Company, LLC at time of acquisition

Revenue

$155.0M

EBITDA

$8.0M

Deal value

$79.1M

EV / EBITDA

9.9×

Other acquisitions by Comfort Systems USA

Recent transactions by the same buyer — useful for understanding their playbook and what they typically pay.

J & S Mechanical Contractors, Inc. · 2024 · $120.0M · 8.9× EBITDA
Summit Industrial Construction, LLC · 2024 · $360.0M · 9.6× EBITDA
Eldeco, Inc. · 2023 · $74.0M · 8.7× EBITDA
MEP Holdings (Edwards Electrical & Mechanical) · 2022 · $57.3M · 8.2× EBITDA

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