Electrical and Mechanical
Profitable Long Established Electrical Contractor
Listing ID: HVAC5
Year Established: 1948
Annual Sales: $1,641,681
Seller Discretionary Earnings: $230,000
Included Inventory: $95,000
Days & Hours of Operation: M-F 8a to 5p 24/7 service
Reason For Sale: True Retirement
Description:This electrical contractor services a 5 county area in a growing region of North Carolina.And They have carried on the tradition of quality electrical service and installations for over 50 years.And This company does $1.5mm+ annually with 75% commercial (government, healthcare, industrial and education) and 25% residential (custom, spec and remodels).And This fully-licensed operates out of a 5,000 foot warehouse/office.And They handle all commercial electrical needs for both new construction and renovations.And Including lighting and data cabling.And They have built a reputation as an expert while building an impressive customer list; including box stores, franchise systems, all levels of government, hospitals and more.
Historical Summary:This company traces its roots back to the late 1940s, initially providing plumbing and heating services to commercial and residential customers. Even before it was established as a formal company, it’s founder introduced air conditioning to their market while working for his previous employer.
Competition:There are several competitors in their market that do residential and light commercial jobs. However, this company is by far the largest, best equipped, and has the skilled employees to bid and win larger commercial contracts (including bonded work). The nearest completers are located over 1 hr. away.
Growth & Expansion Opportunities:The owner has restricted the work to mostly a 35-mile travel area (however the company has some “special customers” that exceed that limit). He has also limited the job sizes to approximately $1M each (Plumbing & HVAC managed as separate jobs). If a new buyer is willing to decrease that cap 'there is more opportunity available. This company works at several area hospitals (as well as their satellite clinics). As the hospitals' preferred vendor they perform Plumbing, HVAC, & Medical Gas piping for maintenance work as well as new construction and renovations. This company works for larger privately-owned surgery clinics, adult care centers, schools (community colleges, as well as K-12), and some factories. This company does select military jobs for select contractors. however the opportunity for additional military work is almost unlimited. If a new owner is interested there are tract housing and new construction opportunities available also.
Owner Qualifications:Buyer does not need to be HVAC licensed. An electrical, H2 and H3 license are held by key employees committed to staying through the transition. Buyer should be proficient with Quickbooks, general HR, management, marketing, etc.
Support & Training:To ensure a successful transition for the buyer, the seller is willing to remain involved in the operations for a period of time. He will work with the buyer to transfer his business knowledge and industry relationships which are unmatched in their market.