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

Comfort Systems USA acquired Ivey Mechanical Company, LLC for $79.1M in 2021 (9.9x EBITDA), equivalent to 0.51x revenue. Target revenue was approximately $155.0M. Target EBITDA was approximately $8.0M.

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

9.9x EBITDA and 0.51x revenue, based on disclosed deal value of $79.1M and disclosed financials.

M&A TRANSACTION · 2021

Ivey Mechanical Company, LLC acquired by Comfort Systems USA

$79.1M· 9.9x EBITDA· 0.51x revenue

Target

Ivey Mechanical Company, LLC

Kosciusko, MS

Mechanical contractor providing HVAC and mechanical services in Mississippi and surrounding states

Acquirer

Comfort Systems USA

Strategic buyer

Disclosed financials at time of acquisition

Revenue

$155.0M

EBITDA

$8.0M

Deal Value

$79.1M

EV/EBITDA

9.9x

Context

This $79.1M acquisition of Ivey Mechanical Company, LLC by Comfort Systems USA sits in the hvac sub-vertical. The 9.9x EBITDA multiple paid in 2021 can be compared against the population median for hvac transactions of similar size on our Hvac valuation hub. Comfort Systems USA is acquiring as a strategic buyer; see how strategic acquirers typically price hvac businesses on our Hvac strategic buyer-pool page.

Source

Data sourced from MarketScreener / Comfort Systems USA Press Release — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2021). Ivey Mechanical Company, LLC acquired by Comfort Systems USA. https://exitvalue.ai/deals/ivey-mechanical-company-llc-acquired-by-comfort-systems-usa-hvac-plumbin