30+ year old HVAC, Plumbing, Electrical seeking investors
My partner and I bought Cardinal Heating & Air last December. It's Kirkland-based, 30+ years in business, and we run HVAC, plumbing, and electrical under one roof. Nine months in, we're roughly two-thirds through the turnaround. So far we've rebuilt the Pricebook, got ServiceTitan working properly, installed EOS, brought on CertainPath, and rebuilt the membership program. Gross margin has gone from 25% to 45%. We've gone from one big fire to a handful of small, manageable ones. Our anchor investor, ^redacted‌ of Entrepreneurial Capital, invested in our first round and is participating in this one. What's left is conversion and technician capacity. Six months ago, our problem was getting in front of enough customers, and now our next step is to improve our conversion rates across the funnel. That's what this raise is for. We're raising $500–700K in convertible debt from three to five investors ahead of heating season, with a $100K minimum check. If you'd like to learn more about our journey at Cardinal, here's a recent podcast I did with ^redacted‌ : redacted My email is redacted for those interested!