New Deals: A property insurance law firm, moving company, and 3 other finds

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NEW DEALS

1/ Property Insurance Law Firm

📍 Location: Florida (Remote)
💰 Asking Price: $1,995,000
💼 EBITDA: $800,118
📊 Revenue: $3,093,581
📅 Established: 2020

💭 My 2 Cents: This Florida-based remote law firm specializes in representing property owners in insurance claim disputes. I really like their remote business model and streamlined operations, as they are able to offer their services statewide using a tech stack that includes Filevine, LeadDocket, and automated workflows. I also like how they have built a strong referral network, with 50% of their business coming from public adjusters. Their recent growth has been fueled by 2024 hurricane claims, while their scalable virtual model means they’re well positioned to take advantage of their state’s increasing demand for legal services related to property insurance disputes. I’d want more detail on their business model, including how their fees are calculated and charged and how they pay their employees. Their employees are the heart of the business, so I’d be focused on what their roles and responsibilities are, how many in particular are attorneys, and how challenging it is to recruit and retain talent. I’d also want to get a handle on their average client value, the average length of time from client engagement to settling a case and receiving payment. This deal should especially appeal to a law practice looking to expand, while the owner is open to staying involved as “of counsel” for up to a year and helping ensure a straightforward transition. Note: In Florida, you don’t need to be a lawyer to own a law firm.

2/ Moving Company

📍 Location: Michigan
💰 Asking Price: $1,200,000
💼 EBITDA: $628,140
📊 Revenue: $2,102,881
📅 Established: 1999

💭 My 2 Cents: While moving companies can be a nice cash-producing boring business, it can be a crowded space, so it's important that a given company can survive amid all the competition. This Michigan-based business has a 25-year track record of providing moving and car transportation services to both residential and commercial clients. With a skilled team and experienced manager, they have built an excellent reputation, with over 35% of their sales driven by repeat customers and referrals. I’d want to better understand their revenue breakdown between residential and commercial services, the types of clients representing their repeat business, how they source new clients, and the nature and condition of the vehicles, tools, and equipment included in the sale. I’d also want to look into the current utilization rates of their staff and equipment, and how much more work they could undertake with their current setup, and what seasonality looks like in the business (peak season for moving businesses is generally between May-September). That said, the steady cash flow and under 2x EBITDA asking price make this deal really worth exploring.

3/ Home Health Business

📍 Location: California
💰 Asking Price: $5,500,000
💼 EBITDA: $1,231,681
📊 Revenue: $6,731,766
📅 Established: 1997

💭 My 2 Cents: Home health care businesses are great as they offer an essential service, are recession-proof, and can count on consistent funding from government and private insurance. This California-based company offers comprehensive home medical and non-medical services, focusing on seniors. I like their scale, as their staff of 93 (9 full-time and 84 part-time) includes nurses, therapists, and social workers. I also like their reputation for quality care, broad geographic reach, and expanding senior population in their area, which offers long-term growth opportunities. I’d need to dig into their revenue split between medical and non-medical services, how the payment for their services normally works, their average client tenure, what referral relationships they have (with hospital discharge planners, physicians, social workers, etc.), and how much competition they face in their area. I’d also be curious about the possible challenges in finding and keeping qualified care staff. Ultimately, the trend of aging in place is not going away considering the high cost of assisted living and general societal preference shifts.

4/ Door and Window Company

📍 Location: Missouri
💰 Asking Price: $2,100,000
💼 EBITDA: $532,612
📊 Revenue: $2,305,820
📅 Established: 1953

💭 My 2 Cents: This company provides new and replacement services for doors, windows, and gutters and has been in business for an amazing 70 years, with its current leadership in place for 23. I love businesses that have been around for this long, as this tells you they have been able to weather many different economic cycles and should have a great level of continuity in their operations, staffing, and relations with their community. This kind of history and associated stellar reputation is one of the few things that can provide a real differentiator between established businesses and new entrants. They source most of their jobs through referrals while working closely with 10-12 contractors who bring them in when needed, leaving room for a new owner looking to grow to invest in marketing and lead generation. They also have a backlog of orders that could provide a revenue base if a new owner wanted to hire additional staff to support an expansion. I’d want to know if there’s any seasonality to their workflow (common for gutter services) and whether they have exclusivity agreements with any suppliers. I’d also want to understand what warranties or guarantees the company offers as you could be inheriting outstanding product and service guarantees.

5/ Commercial Electrical Contractor

📍 Location: California
💰 Asking Price: $2,800,000
💼 EBITDA: $729,000
📊 Revenue: $7,440,000
📅 Established: 2004

💭 My 2 Cents: This Northern California electrical contractor focuses on high-tech projects for both government and private sector clients. What really sets them apart for me is how they operate in what is now a very in-demand market, with the internet and AI driving an exploding need for new data centers in particular. Tied to this, I like their specialized expertise, strong management with over 100 years combined experience in the industry, and established client base that represents a lot of stability in their future work and earnings. I’d want more information on their government contracts, including how they are sourced, their standard terms, and what percent of their business they represent. I’d also want more detail on how they bring in new private sector clients, the average scope and duration of their jobs, what challenges exist in managing their larger scale projects, the lease terms for their facility, and what equipment and other assets are included in the sale. The owner is retiring, so I’d need to know the transition plan. However, this company’s position at the cutting edge of high-tech electrical contracting makes this a very interesting opportunity.