Also- If he was a one man show, the clients are going to be pissed when a tech shows up and they do not get to have a "talk" with the owner. You will end up having to go to every job to talk to the customer and pick up your check (that now does not cover time spent). I would ONLY buy a company with good employees, relationships with builders, service contracts, and a commitment from the current owner to clean up his messes when they arise (in writing). Also, 10yrs in business and only 12k in inventory/hand tools??? Sounds like to me your buying a telephone number.... not a good idea. Sometimes I wish I could change mine!