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The company is a self performing commercial specialty construction firm. All work is performed in-house (not sub-contracted).
Revenue (approximated) is derived from:
* 10% government/municipal
* 10% Institutional
* 40% Commercial to developers
* 40% Residential to developers
* 0% Home Owners
The company is focused on value engineering the entire worksite which provides a competitive advantage.
Unlike many construction companies, this company chooses to rent its construction equipment which provides flexibility and transfers maintenance responsibility to renter. The expense fluctuates, but is approximately $50,000 per month.
Leased wide-format copier/scanner/fax and A-E size color plotter/scanner will be transferred to buyer and are not included in FF&E.
The company averages $1,000,000-$1,500,000 of open WIP, $2,700,000-$3,000,000 of awarded contracts not yet begun and $2,000,000-$2,500,000 in outstanding pending bid proposals. The approximate required working capital is $110,000. Bonding projects represent approximately 5% of gross revenue.
Financials represent trailing 12 months performance through 7-31-2018. EBITDA is estimated assuming two executive salaries of $125,000 each.
Price in asking price is for database sorting purposes only. Sellers expectations are based on a multiple of earnings..
Type of Location: Office Condo
Owner Occupied: Yes
Monthly Common Area Maintenance: $95
Square Footage: 850
The business is operated from a location on a major thoroughfare in Wake County, NC. Adequate parking is available. The building is available for purchase. If purchased the property will be sold at bank's actual appraised value which may be higher or lower than the estimated $130,000.
The current owners have intentionally managed growth to allow for more personal/family time. Owners 2018 estimate of $18,000,000 in revenue was based on minimal staffing increases and has been achieved. The Sellers believe that experienced operators could increase gross sales by as much as 100% within 12 months by expanding into other North Carolina markets.
Competition is comprised of companies that perform similar services. No other construction company has grown as fast as this company in North Carolina - all while being 100% self performing.
Owners have other business interests.
Business Hours: M-F 8-5
Owners will provide 30 days of transition support at no cost. Owners are open to extended employee contracts at market rates.
Owners will provide an appropriate component of financing if required by SBA.
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