High-End Concrete And Masonry Contractor: Consistent 15-20% YoY Growth
| Asking Price: | $35,000,000 |
| Gross Revenue: | $18,500,000 |
| Cash Flow: | $5,700,000 |
The Company is a well-established construction firm specializing in high-quality concrete and masonry services. With decades of industry experience, the company has built a reputation for delivering complex projects with exceptional craftsmanship.
The company operates a subcontracting-based business model, with an emphasis on providing high-end residential, as well as commercial projects. It handles projects typically valued between $500K and $4M.
Team: The company's team consists of 85 skilled experts, most with an average of 10+ years of field experience.
• Investment Highlights:
o Reputation for Excellence: The company has built a strong reputation over 25 years, with high client satisfaction and a track record of recurring contracts and projects. The company is well regarded among general contractors, further bolstering its reputation as a reliable and trusted partner in the industry.
o Consistent Project Pipeline: A network of loyal, repeat clients and referrals ensures the project pipeline remains consistently full, mitigating cyclicality and unpredictability of demand.
o Backlog: A backlog with a project value of $5m, scheduled for delivery over the next 3 months.
o Demand: Upscale residential construction in the area is expected to remain strong, driven by clients' preference for custom-built homes and the growing number of individuals with higher purchasing power.
o Differentiation: The company delivers expert, high-quality, and on-time project completion with particular attention to safety. This combination has allowed it to consistently win contracts, despite charging a premium over competitors.
• Key financials
Current pipeline and backlog value is $11.7m
Estimate 2024: Revenue $18.5 | EBITDA $5.7m
Full 2023: Revenue $15.0m | EBITDA $3.5m
Full 2022: Revenue $14.5m | EBITDA $2.5m
Transaction:
• The company’s owners are considering selling 100% of the shares.
• The decision to exit is driven by the owner’s planned retirement. However, the owners are open to supporting the transition for up to 12 months, with preferences for a shorter span and consulting role.
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