The Deal Sheet
2026-02-26
The Small Business Acquisition Newsletter
The Small Business Acquisition Newsletter
Weekly Deal Roundup
3 Deals We're Watching
Week of Week of February 26, 2026
01 — Deal of the Week
The Standout Listing
Residential and Commercial Plumbing Contracting Company in MT ↗
Montana
$1,527,818
Revenue
$574,558
Cash Flow
$1,495,000
Asking Price
This Montana plumber is printing money with a jaw-dropping 38% cash flow margin on $1.5M revenue—that's nearly $575K hitting the bank annually. The asking price of $1.495M represents just a 2.6x cash flow multiple, meaning you're looking at a sub-3-year payback in an industry where 3-4x is standard. With 20 years of operating history, thousands of past clients in the database, and only 4 employees generating this kind of profitability, the operational efficiency is exceptional. The small team size also means less HR headaches while the established reputation provides a defensive moat in what's likely a less competitive rural market.
Verdict: Rare combination of high margins, low multiple, and recession-resistant revenue makes this a compelling value play for anyone willing to operate in Big Sky Country.
Verdict: Rare combination of high margins, low multiple, and recession-resistant revenue makes this a compelling value play for anyone willing to operate in Big Sky Country.
◉ DEAL OF THE WEEK
02 — Also Worth Watching
Runner-Up Deals
Profitable Commercial HVAC Business – Residential and Commercial ↗
Miami Lakes, FL
$3,600,000
Revenue
$650,000
Cash Flow
$4,000,000
Asking Price
Our take: South Florida HVAC with $3.6M revenue and $650K cash flow (18% margin) serving commercial anchors like retail centers and office buildings. The 6.2x multiple is fair for a business with recurring service contracts and 20 employees handling diversified commercial/residential mix, though you're paying for the Miami market premium.
Verdict: Solid commercial HVAC play with recurring revenue streams, but make sure those service contracts are truly locked in before writing the check.
Verdict: Solid commercial HVAC play with recurring revenue streams, but make sure those service contracts are truly locked in before writing the check.
Rapidly Growing HVAC Company in North Texas | Turnkey Operations ↗
Arlington, TX
$2,500,000
Revenue
$590,000
Cash Flow
$2,500,000
Asking Price
Our take: Asset-light DFW HVAC generating 24% margins ($590K on $2.5M) using a 1099 contractor model with only 7 employees. The 4.2x multiple and flexible labor model create scaling potential, but contractor-dependent operations carry execution risk if key technicians walk.
Verdict: High-margin model in a booming market, but verify contractor retention and customer acquisition costs before betting on continued growth.
Verdict: High-margin model in a booming market, but verify contractor retention and customer acquisition costs before betting on continued growth.
03 — Market Pulse
What We're Tracking
- • Trade services continue to dominate with plumbing and HVAC deals showing 18-38% cash flow margins, significantly outperforming retail and restaurant sectors where margins struggle to break double digits.
- • Geographic arbitrage is alive and well—Montana and Texas deals are trading at 2.6-4.2x multiples while comparable Florida businesses command 6x+, suggesting opportunity for buyers willing to operate outside coastal markets.
- • Contractor-light models are gaining traction with several deals highlighting 1099 labor strategies, though this creates both scaling opportunity and key person risk that buyers need to diligence carefully.
Join 2,000+ Searchers and Sponsors
One email per week. No spam. Unsubscribe anytime.