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Overview

Building and Construction

Laminated Outdoor Wood Structures Design / Build Firm

Price: $3,250,000

Listing ID: STRUCTURE1

Annual Sales: $3,140,219

Seller Discretionary Earnings: $806,417

EBITDA: $725,679

Year Established: 1972

Days & Hours of Operation: M-F 7:30-4:30

FF&E: $50,000

Inventory: $0

Reason For Sale: True Retirement

Listing Status: Active

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Summary

Description:

This business has over 50 years of experience in the design and outsourced construction of prefabricated and custom laminated wood structures including bridges/pathways, structural beams and outdoor shelters and pavilions.

Customers include homeowners, municipalities, churches, horse farms, entertainment venues, golf courses and architects who integrate the company’s custom products into their designs.

The company has received multiple awards for their highly regarded custom designs and quality precision manufacturing. The company also offers a limited number of ‘off the shelf’ products.

Since entering a big box retailer, the pipeline of quotes has grown significantly filling the sales pipeline with projects from this retail partner as well as direct quotes with the largest backlog in the company’s history of approximately $12,000,000 of viable projects which is ~5x average of prior periods.

One quote to a local municipality is ~$3,000,000 which by itself would double the companies EBITDA from 2022 to 2023. Another local potential contract is outstanding for $5,000,000+. It is worth noting that the company’s fixed costs are covered at approximately the $2,000,000 annual gross sales level making any incremental projects net margin significantly higher.

Seller is seeking a component of earnout on the incremental quotes outstanding if awarded for sales and engineering costs incurred for those projects.

Historical Summary:

Believed to be formed originally in the 1950's the current owner purchased in 2011 at which time there were 300 employees and 300,000 square feet of manufacturing across two locations.

Manufacturing is now outsourced and has been optimized to maximize profits.

Competition:

This company competes on a national basis with two primary competitors.

Growth & Expansion:

New owners could expand beyond eastern seaboard. New owners have an invitation to enter over 2000 big box retailers. This carries an unexpected benefit of being featured on the retailers website in all markets beyond the current 200 locations. Company currently has eight long standing dealers which could be expanded.