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Extremely Profitable Self-Performing Site Wall Construction Company

Raleigh, NC (Wake County) (Relocatable)

Seller Financing Available
Specialty Construction
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Asking Price: $16,000,000

Cash Flow: $4,493,730

Gross Revenue: $18,361,549

EBITDA: $4,243,730

FF&E: $186,500

Inventory: N/A

Real Estate: $130,000*

Established: 2003

*not included in asking price.

Extremely Profitable Self-Performing Site Wall Construction Company

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Business Description

The company is a self performing commercial specialty construction firm. All work is performed in-house (not sub-contracted) by 15 crews (ao Sept. 2018).

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. 8 are full-time employees, 52 are contractors.

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.

The owners have worked in the industry for approximately twenty years. The company has grown consistently since inception. First year revenue was $500,000 with year over year increases annually approaching $20,000,000.

Buyer(s) will need to possess or retain employees on staff carrying a North Carolina General Contractors License and for engineering, a NC Board of Engineers and Land Surveyors Professional Engineering License (NCBELS) licensed engineer with prescribed equity as reflected in the NC Secretary of State filings.

Real property represented by ENLIGN Commercial
2009 Caminos Drive, Raleigh, NC 27607, 919-341-1100

Detailed Information

Location:
Raleigh, NC
Real Estate:
Owned
Not included in asking price
Building SF:
850
Employees:
60
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
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. Type of Location: Office Condo Owner Occupied: Yes Monthly Common Area Maintenance: $95 Square Footage: 850
Competition:
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.
Growth & Expansion:
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.
Financing:
Owners will provide an appropriate component of financing if required by SBA.
Support & Training:
Owners will provide 30 days of transition support at no cost. Owners are open to extended employee contracts at market rates.
Reason for Selling:
Owners have other business opportunities.
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Contact the Seller

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Jeff Snell, CM&AP, M&AMI, LCBI, ABI

Business Listed By:
Jeff Snell, CM&AP, M&AMI, LCBI, ABI

ENLIGN Business Brokers

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Memberships & Certifications:
Indicates membership in the International Business Brokers Association (IBBA). The IBBA is the only certifying organization for Business Brokers and Intermediaries who assists people in buying or selling a business. Indicates membership in the M&A Source. The M&A Source is comprised of highly trained Intermediaries who advise on the preparation, sale and/or purchase of middle market (~$2M+ in revenue) business opportunities. Certified Business Intermediary (CBI) is a professional certification awarded to Business Brokers and Intermediaries that have achieved stringent requirements. CBI's work by an ethical code of conduct when working with business owners and buyers. Merger and Acquisition Master Intermediary (M&AMI) is a professional certification awarded to Intermediaries who've achieve very stringent educational and professional requirements. M&AMI's agree to abide by an ethical code of conduct when working with business owners and buyers.

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