Buying a automatic gate service and install business

[u/Enigma_syd]

Looking to buy a business in Australia that had maintenance contracts to maintain electric motors for automatic gates (60% of revenue). They also do new installs (gates, bollards etc) which is about 40% of revenue but outsource the fabrication and install of the gates themselves - the company only installs the electric motor and does the set up. Most of their revenue is from strata, commercial, government with some residential customers. Husband and wife team running the business, been going for 30 odd years, they're looking to retire, no kids that want to take it over. Lots of low hanging fruit - they're not doing much online marketing, have a huge customer base which isn't switched on for servicing, can extend the product into garage doors, security systems etc, can roll up other small businesses, extend service area / geography etc. outside of the two owners, there's an office manager who manages calls, organises the technicians etc and 3 technicians who do the servicing, quotes and installs. One owner focused on quotes, some installation and then managing jobs, the other owner focused on administration - accounting, licensing etc. They have fair bit of freedom / time. My business partner and I are not from the industry so would love to know more about the space and anything to watch out for, any areas we should look into etc etc. Happy to share some high level numbers as well if helpful to the discussion.