What if the technicians leave after you buy an HVAC company?
Work out which technicians the service book really depends on, meet them once the deal is firm, and plan retention and the owner’s handover together. Ask your advisers how much the deal depends on those technicians staying.
An HVAC company is only as steady as the people who service the equipment. A maintenance book looks solid on paper, yet customers often trust a particular technician. If two or three of them leave, the schedule, the callbacks and the install capacity can all wobble at once. Look at this early, not in the first month after closing.
Which technicians does the book depend on?
Ask the seller to show who services which accounts, who handles the larger installs and who the customers ask for by name. Some companies spread the work evenly. Others rely on one senior technician and a helper. Knowing the pattern tells you how much a single resignation would hurt, and where to put your attention.
How and when to talk to them
Agree with the seller on the timing. Many owners wait until the deal is firm before telling staff, and then introduce the buyer together. In that first conversation, say what is not changing, listen to concerns about pay, vehicles, on-call hours and tools, and be honest about what you do not yet know.
Retention plans
Some buyers offer a stay-on payment for key people, or a clearer path to a lead role. Ask your lawyer and accountant how to set up any such arrangement. Licensing and certificate rules for technicians are a separate subject, and your lawyer or the relevant regulator can tell you what applies.
The owner’s handover
Ask the owner to stay for a period after closing, working alongside the team and introducing you to the technicians and the main commercial customers. If the owner is also a working technician, plan who covers that work. The guide to buying an HVAC contractor explains how to test that role.
Related reading
15 pages on the same subject, grouped by topic.
Buying
- GuideBuying a HVAC contractor in Canada
- GuideBuying a plumbing contractor in Canada
- GuideBuying an electrical contractor in Canada
- Expert answerFranchised or independent HVAC or plumbing company: what should a buyer weigh?
- Expert answerShould I buy an existing plumbing company or start one?
- Expert answerWhat does a plumbing company owner do day to day?
- Expert answerWhat should I focus on in the first months after buying an electrical contractor?
Due diligence
Financing
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentUnderstanding post-merger operational integration
- 03Business Development Bank of CanadaGovernmentAfter buying a business, what is the next step?
- 04Heating, Refrigeration and Air Conditioning Institute of Canada (HRAI)IndustryAbout | HRAI
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