By Ryan Edgington, former proprietor of Oxford Plumbing & Heating

When my grandfather began Oxford Plumbing & Heating again in 1951, he might by no means have imagined that, three generations later, the enterprise would domesticate a legacy like this. For 70+ years, we had been the neighborhood firm that households referred to as upon when their pipes froze or their warmth went out. 

And, earlier than I knew it, my dad handed the baton to me, and years of success adopted – till at some point I wakened and realized I’d solely have one other decade forward of me, if I’m fortunate. My first thought after that was how I might guarantee Oxford thrives lengthy after I step away. 

My monetary advisor really helpful I join with Commonwealth M&A, an advisory agency that focuses on small-to-medium-sized companies. The subsequent day, I picked up the telephone and gave them a name; little did I do know that dialog would utterly change how I checked out my family-owned enterprise, and what finally led me to promote it. 

What began as a query in regards to the future turned a four-month whirlwind that taught me extra about myself and my firm than I ever might think about. Right here’s what I discovered from that have, and what I’d inform any enterprise proprietor who needs their firm to proceed after they depart the helm.

Work on the Enterprise, Not Simply in It

Whereas I used to be by no means a technician myself, I made it some extent within the early years to trip together with my workforce, assist out the place I might, and actually perceive what a day of their life regarded like. It was the one technique to actually grasp each the rewards and the frustrations of the job.

In my third yr as proprietor, I made a decision to rent a marketing consultant who inspired me to step again and take a look at the corporate from an outdoor perspective. Because of this, we restructured the whole lot from advertising to pricing, departmentalized, set KPIs, and targeted on the methods that made the enterprise run nicely.

Rick Calabrese and Joe Bergin, the co-founders at Commonwealth M&A, later instructed me, “The stuff you probably did years in the past is what made your organization promote for what it did right this moment. The prepared companies don’t need to rush when alternative knocks; that basis has already been sturdy.”

They had been proper. They then recommended me, stating that from a purchaser’s perspective, the preparation allowed me to place my greatest foot ahead.

Put a No. 2 In Place

Because it got here from my household and the generations earlier than me, I assumed nobody might care about Oxford Plumbing & Heating greater than I did. However the fact is, each firm wants a strong second-in-command.

“Put a No. 2 in place,” I all the time inform individuals. “God forbid one thing occurs, you want somebody who can maintain issues working.”

Whether or not it’s a senior technician, an operations supervisor, or a foreman you belief, your second-in-command retains the enterprise steady and provides large worth. When consumers or companions take a look at your organization, they don’t simply see numbers; they actually need to take a look at how nicely the enterprise can run with out you within the image.

That’s what I centered on in my management, and it made all of the distinction. My second in command was in place, my staff had been taken care of, and I felt nice in regards to the firm’s capacity to take care of momentum after I stepped away.

See The Worth Clearly

As soon as Oxford Plumbing & Heating was working easily, I sat down with Rick and Joe as they started crunching the numbers and offered me with a valuation.

Once I noticed how a lot my firm was price, my jaw dropped. Seeing that quantity modified how I noticed the enterprise. It was an enormous realization that during the last three generations, we had constructed extra worth than I’d ever given us credit score for.

After we reviewed the valuation, that’s when it clicked: You don’t must be able to promote to learn from understanding your organization’s price. A valuation is sort of a well being test — it reveals what’s working, what’s not, and the place to place your focus subsequent.

Watch the Market

The trades are altering quick. Between consolidation, AI, and personal fairness shifting into the business, the timing of your choices issues greater than ever.

Rick and Joe confirmed me how the market was shifting within the plumbing business – they referred to as out how timing labored in my favor and famous how ready even a yr might have modified the end result.

“The market aligned completely for Oxford Plumbing & Heating,” Rick had instructed me. “The HVAC and Plumbing business is actually at a peak, and also you dared to leap.” That caught with me. 

You’ll be able to run the most effective operation on the town, however if you happen to ignore what’s taking place round you, you may miss your window. Don’t wait till consumers, traders, or alternatives transfer on. In the event you discover the tides altering, trip that wave to the very finish.

Submit-Sale: The Oxford Legacy Continues

Promoting Oxford Plumbing & Heating wasn’t the top of our story. It’s the subsequent chapter. My grandfather began it along with his arms, my dad grew it with coronary heart, and I handed it on with steerage and technique.

Joe had instructed me after closing, “You constructed a enterprise individuals wished to purchase as a result of it was one individuals wished to work for.”

That flatter was the most effective I might have requested for.

At this time, as the previous proprietor,  I’m serving to with the transition, mentoring younger tradespeople, and determining what’s subsequent. It may very well be one thing that “feeds my soul,” as I clarify it to my spouse. However I’ll all the time be proud that Oxford Plumbing & Heating continues to be standing sturdy, serving the identical group that my grandfather as soon as did.

If there’s one factor I’d inform any proprietor on this commerce, it’s this: Take satisfaction in what you’ve constructed, however don’t be afraid to assume forward. The very best legacy you may depart to a enterprise is for it to succeed with or with out you.

Concerning the Writer

Ryan Edgington is the previous proprietor of Oxford Plumbing & Heating, a three-generation household enterprise based in 1951 and offered in 2025. Commonwealth M&A workforce efficiently closed the cope with the corporate’s latest proprietor, guaranteeing a clean transition for the staff and a brand new period for Oxford Plumbing & Heating.