New Deals: An HOA management company with untapped inbound demand, electrical contractor with longtime employee holding license, and 3 other finds...

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NEW DEALS

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📍 Location: Florida
💰 Asking Price: $5,050,000
💼 EBITDA: $1,100,000
📊 Revenue: $8,150,000
📅 Established: 2006

💭 My 2 Cents: The usual problem with buying an electrical contractor is the license. It belongs to a person, not the company, so a buyer who is not an electrician has to find one willing to put a license behind someone else’s business. What caught my eye is that this one has already solved it: the license sits with a career employee on a long-term agreement with years left, and current ownership has no trade background, handling finance and treasury. It wires and services commercial and residential buildings in Southwest Florida, with service now its largest line and a newer department handling low-voltage and fire alarm work. That matters because new construction stops when developers stop, and service does not, since those buildings are already up and go on needing work. That said, I’d want to know how much of that service work sits under a maintenance agreement rather than waiting for a phone call. Then how much has been billed on the open construction jobs ahead of the work actually done, since that cash is already collected and the work still has to be finished after closing. And what bonding capacity a surety will write for a new owner, since that line follows the balance sheet behind it. That newest department may be the most repeatable of them, since Florida requires commercial fire alarm systems to be tested every year, turning every install into an annual visit.

📍 Location: California
💰 Asking Price: $4,900,000
💼 EBITDA: $1,037,413
📊 Revenue: $2,794,000
📅 Established: N/A

💭 My 2 Cents: California requires its power companies to keep trees a set distance from their lines all year, and hiring outside crews to do that cutting is standard across the industry. This company does tree care and vegetation management for homeowners, commercial properties, property managers and municipal clients, running from routine pruning to complex removals and emergency calls, with more utility work as the obvious growth path. The sale includes the trucks, trailers and tree equipment, the real estate can be bought separately, and the management team is staying on. How many of the crew are qualified line-clearance trimmers is where I’d start, since California keeps everyone else more than 10 feet from a high-voltage line, so that count is the real ceiling on how much utility work this company can bid. The split between scheduled maintenance and one-time removals comes next, which shows how much of next year is already on the calendar. I’d also want how much of the residential work is clearing defensible space in fire hazard zones, since the state requires 100 feet of it and sends inspectors, which makes that work hard for a homeowner to put off. The utility path is worth the trouble because a qualified line-clearance trimmer takes at least 18 months of training and on-the-job experience to make, so nobody wins that work by hiring a crew next month, and every trimmer already qualified is a year and a half a competitor still has to spend.

📍 Location: Massachusetts
💰 Asking Price: $1,750,000
💼 EBITDA: $700,000
📊 Revenue: $2,200,000
📅 Established: 1991

💭 My 2 Cents: A homeowners or condo association has to collect a fee from every unit, pay its vendors and fund the next roof, and a manager gets hired to do the collecting, the books and the planning, paid out of a budget the association is obliged to raise. Nationally those budgets came to $120.9 billion last year. This company manages about 40 homeowner and condo associations in Massachusetts, a state with roughly 11,600 of them. A core team has been in place for 15 to 25 years, revenue has held steady, and the owners will stay about 12 months after a sale, with a key long-tenured staff member already committed to staying beyond that. Ownership has also deliberately limited new clients for several years despite steady interest. The first thing I’d dig into is how long each association has been a client, which shows how much of the book has survived several rounds of board elections. Then who runs each association’s meetings and budgets today, since seven people, five of them part-time, cover 40 associations, which probably means the owners still carry part of that work. I’d also want how many associations asked to sign on over the last two years, which shows how fast the list could grow with one more manager. An association does not go away when its residents do: units change hands while the association and its building stay, so a buyer is acquiring clients that outlast the people living in them.

📍 Location: Florida
💰 Asking Price: $9,987,500
💼 EBITDA: $1,258,715
📊 Revenue: $2,325,479
📅 Established: 1996

💭 My 2 Cents: A family fun park runs the same rides with the same staff whether fifty families show up or five hundred, so the profit is not made on an average day, it's made on the busy ones. This Florida park, from a retiring owner, pairs outdoor amusements with an indoor arcade, party areas and food. Three shift managers run the days, one already identified as a potential general manager. The price only looks steep until you see the 10 acres valued at $7.4 million inside it, which leaves the business itself asking roughly two times its cash flow. The revenue split across rides, arcade, parties and food is where I’d start, since it shows how much of a visit’s revenue carries a cost each time. I’d also want the age of each outdoor ride and when the bigger ones come due, since the $322,500 of equipment on the books is a depreciated figure rather than a replacement cost, so the balance sheet gives no warning of that bill. Then how many birthday parties and group outings it books a year, how far ahead, and whether they are paid up front, since that is the only revenue here committed before the day arrives. One thing here you don’t have to guess at: every permanent ride needs an annual Florida permit backed by an engineer’s affidavit, with a state inspection six months in, so each ride’s condition is on record from someone other than the seller.

📍 Location: Massachusetts
💰 Asking Price: $5,000,000
💼 EBITDA: $1,173,774
📊 Revenue: $7,378,984
📅 Established: N/A

💭 My 2 Cents: The average car on American roads is 12.8 years old, a record, and the money spent keeping older cars running rises with that age, which is the demand a wholesale supplier to the automotive trade sells into. This one is a long-established distributor serving a varied customer base across the industry, with a large base of repeat customers and new accounts still coming on. It delivers on demand from a leased warehouse with quick highway access and has a long-tenured team. It also helps customers manage their inventory and keep their operations running efficiently. How many customers use that inventory service is the number I’d chase hardest, since a customer whose shelves a supplier stocks and reorders has more to unwind before switching than one that simply places orders. How many times a year the $1,000,000 of inventory turns comes next, since the part that hasn’t turned is stock for cars no longer on the road, and knowing how big that part is changes what the million is worth. Then how many times a day it runs deliveries and how far they go, since a shop with a car on the lift buys from whoever can get there first. Whatever those show, the exit is easy to picture: larger distributors and private equity-backed platforms have been buying regional suppliers steadily, with Fisher Auto Parts and Driven Distribution Group each taking two in 2025 alone.