- Founder has built a large, lean company, revenues exceeding $29.5mm in 2022.
- Solid revenues and EBITDA, relatively unaffected by pandemic downturns. Fluctuations between years due to accounting of multi-year contracts. Average contract size $1.5mm.
- Job Backlogs over $70mm currently. Current Contracts stretch into 2025.
- Non-union, mostly private work with Fortune 100 companies. Would like to expand to government work, with administrative assistance.
- High customer concentration, top six clients responsible for 55% of current contracts.
- These six clients’ projects provide recurring, constant workflow, with strong terms and reliability.
- Excellent, strong, long-tenured, cross-trained workforce. Extensive in-house training and safety management, which is reflected in insurance pricing, and labor efficiency. Bonding $50mm/70mm in place with corporate guarantee.
- Founder has limited growth intentionally, working on another project, however management is anxious to be part of larger growth. Management has taken full responsibility for operations the last two years.
- Management expectations for future revenues range from $60mm-$100mm annually, assuming new owners share the desire to grow. Low-asset operation. All equipment is leased. Office is leased.
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