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+$2M 2018 SDE, +15 year Underground Utility Biz - Carolinas


Seller Financing Available
Profitable Underground Utility Business
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Asking Price: $6,500,000

Cash Flow: $2,200,000

Gross Revenue: $7,000,000

EBITDA: $2,100,000

FF&E: $3,000,000

Inventory: N/A

Established: 2003

+$2M 2018 SDE, +15 year Underground Utility Biz - Carolinas

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Business Description

$900K SDE to 6.30.19; SBA Loan proposed, 15% down;5% Owner Financing

This Business provides underground utility installation in the Carolinas, largely with repeat customers. This Business makes customer service a priority while serving both public and private sectors. This Business consists of well-trained employees in which the majority of the employees have been seasoned over two years. The Business specializes in the installation of natural gas lines, underground electric, waterlines, and telecommunication lines. Reviewed Financials by a CPA firm occurs annually.

This Business is being sold as an Asset Sale where the Business Owner retains cash, receivables, prepaids and pays off any payables/liabilities at the time of sale. Real estate is not included in the sale of the Business.

The lender has received past years' tax returns/financials and has proposed a 10-year SBA loan with 15% down for qualified buyer. Additionally, 5% Business Owner financing may be available to qualified buyer.

A very comprehensive due diligence package is ready for on-site review prior to making an offer. Bridge Mergers and Acquisitions does not provide accounting, tax, or legal advice. Information has been provided by the Business Owner, and Bridge Mergers and Acquisitions does not guarantee in any way the accuracy of such information, nor does it warrant any assumptions as true and/or correct. We recommend that Buyer’s due diligence professional verify calculations, and we are confident that your due diligence professional will arrive at similar conclusions. Cash/Gross Revenue, Business Highlights provided by Business Owner.

Detailed Information

Included in asking price
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Excellent location available for lease. No real estate is included in the purchase. Vehicles, modern heavy-duty equipment, office furniture, computers and tools with owner's recommended market value of $3,000,000.
The marketplace has both larger and smaller companies; however, the Business Owner cites excellent workmanship and customer service as differentiating factors. This Business strives to finish projects within a timely manner and complete the projects within a specific budget. High customer concentration exists with a very few top customers who the Business has served for several years.
Growth & Expansion:
Business Owner believes that a Buyer could combine his/her Business/Sales skills with the current existing solid, long term relationships to expand the business in its current space and consider other possible new growth from other market sectors. According to the 2018 North American Construction Forecast Report, from 2017 to 2018 a 5% growth took place for North Carolina and a 4% growth for South Carolina. According to First Research Forecast, the value of new private and public US construction, a major indicator of site preparation demand, is forecast to grow at an annual compounded rate of 6% between 2018 and 2022. Additionally, PEI Services Ltd. cited as top 10 thematic industry based upon their review of platform acquisitions by private equity firms in the first half of 2018, the construction-related industry (businesses which provide parts, tools, and services to support the actual construction). According to the Business Owner, a Buyer with Business/Sales skills could be effective in the continued growth of the Business. Business Owner believes top business strengths include: • Strong repeat business with customers • Great employees • 100% of the firm’s machinery operators are certified for the equipment they operate • Strong documented procedures • Strong reputation in the marketplace derived from experience, customer service, and honesty. Business Owner cites the following as top business weaknesses: • Seasonality of the Business and stretching the team during busier months • Decision making on which new projects to take on given the current capacity of the existing team • Managing the months of backlog
Up to 5% Owner Financing to Qualified Buyer
Support & Training:
Four weeks of post-closing consulting is included in the purchase price. Beyond that, the Business Owner will consider a mutually beneficial consulting agreement.
Reason for Selling:
Business Owner is ready to begin pursuing other interests & enjoy >family time.
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Diana L. Miles, C.M.A.P., C.B.I.,  M.B.A.

Business Listed By:
Diana L. Miles

Bridge Mergers & Acquisitions

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