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Extremely Profitable Self-Performing Site Wall Construction Company
NCListing DetailsOffice ID: BUILD4
Status: Active
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Price Range: $15,000,000 - $25,000,000
Gross Revenue: $19,622,320
Cash Flow: $5,119,259
FF&E: $182,164
FF&E Included: Yes
EBITDA: $4,819,259
Real Estate: $130,000
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:
Dependant upon overall transaction structure owners may be willing to entertain rollover equity, seller financing, or other structuring beneficial to all parties.  Moreover, sellers prefer a simple structure without extensive contingencies. Sellers are not interested in being paid with stock of purchaser.
Reason for Sale:
Owners would like to limit their work roles to spend more time with family.
Training:
Owners will provide 30 days of transition support at no cost. Owners are open to long-term employee contracts at market rates.
OperationsYear Established: 2003
Form of Ownership: LLC
Employees (full-time): 8
Employees (contractors): 52
Managers: 2
Business Hours: M-F 8-5
Summary
Business Description:
The company is a self performing commercial specialty construction firm. All work is performed in-house (not sub-contracted) by 16 crews (ao January 2021). Revenue is derived from approximately:      * 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, relocation, storage, and insurance responsibility to rental firm. The expense fluctuates, but is approximately $120,000 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 $1,500,000-$2,000,000 of open WIP, $2,500,000-$3,000,000 of awarded contracts not yet begun and $2,500,000-$3,000,000 in outstanding pending bid proposals. The approximate required working capital is $400,000. Bonding projects represent approximately 2% of gross revenue. EBITDA is estimated assuming two executive salaries of $150,000 each. Price in asking price is for database sorting purposes only. Sellers expectations are based on a multiple of earnings.
Historical Summary:
The owners have worked in the industry for approximately twenty years. The company has grown consistently since inception. First year revenue was $91,900 with year over year increases annually through 2020 approaching $18,000,000 with 17.8% average annual top line revenue growth.
Owner Qualifications:
Buyer(s) will need to possess or retain employees on staff carrying a North Carolina General Contractor's 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.
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.
Potential Growth:
The current owners have intentionally managed growth to allow for more personal/family time. Owners 2020 estimate of $17,000,000 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 12-18 months by expanding into other North Carolina markets.
LocationType of Location: Office Condo
Real Estate for Sale: Yes
Real Estate: $130,000
Monthly Common Area Maintenance: $95
Square Footage: 850
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.


Last Updated: Jul 15, 2021 / 2:32 PM
Financial Information Current As Of: Nov 17, 2015 / 6:35 PM


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