Buy small HVAC deal; advice on licence transfer and rec for lawyer

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by a professional from University of California, Berkeley
in Sacramento, CA, USA

2yrs ago

Buy small HVAC deal; advice on licence transfer and rec for lawyer

Hello,

I'm looking at a small HVAC deal and would love some help on what to look out for.

More specifically, I don't have background in this.. .I'm wondering how the HVAC license transfer work?

Would love recommendations to any lawyers that have done small HVAC deals in California to help guide me through the potholes.

Thank you!

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reply by an investor 2yrs ago
from Ivey Business School at Western University in Boca Raton, FL, USA

Licenses don't transfer, which is why many HVAC acquisitions (and other licensed trades) are stock deals where the seller stays on and 'qualifies' the business while you look for someone else who has a license, get an internal employee licensed, or get yourself licensed over time. If you do an asset sale and form a new entity, you need to qualify that entity with the licensing board and typically the seller can't be the licensee since he's the licensee for the selling entity and typically you can only qualify one entity at a time. This is not legal advice so check with a lawyer.