Sun Belt pool service route, 142 weekly accounts, 9.2 stops/day, no seasonal exposure
§ 01 · Observed
What was documented in diligence.
Route map confirmed 142 accounts within a 12-mile radius — 9.2 stops per technician per day. Monthly attrition data for 24 months: average 1.4%, below the 2% threshold for top-of-band scoring. Chemical cost verified at current supplier pricing (not trailing trough): $38/account/month COGS, consistent with benchmark range. Year-round climate — zero seasonal revenue exposure. Equipment repair revenue $42,000 (8% of total) separated from recurring maintenance base. Service agreements: 100% of accounts on written month-to-month agreements. Owner performs 8 stops/week; replacement normalization $19,000.
§ 02 · Outcome
What happened.
Signed at 4.1× SDE. Lender DSCR 1.31×. Closed without repricing.
§ 03 · Structural Pattern
How this deal fits the four-pillar framework.
Upper-band placement driven by route density above 100 weekly accounts within 10 miles, attrition below the 2% benchmark, and year-round revenue without seasonal compression. Dense routes with low attrition and written agreements are the structural conditions that support 3.8×–4.5× placement.
This is an anonymized composite drawn from observable structural patterns in the sample window. It is not a specific deal. The structural pattern, band placement, and outcome reflect commonly observed combinations; a future consented case study will replace this entry.
Industry Atlas
See the band this listing sits against →
Underwriting Playbook
Four-pillar framework →
All scored listings
Index →