30 Years Established Asphalt Business

Sioux Falls, SD


Asking Price: Annual Revenue:
$5,300,000 $8,478,792

Services: Construction, Contractors


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RE: 30 Years Established Asphalt Business Broker: Jared Olson
Owner Financing is Available!
15% Buyer Down Payment= $795,000 15% Seller Financing or Equity= $795,000 70% Bank Loan= $3,710,000

Quick Facts

Asking Price: $5,300,000
Annual Revenue: $8,478,792
Net Profit: Not Disclosed
Cash Flow: $1,202,882
Total Debt: Not Disclosed
FF&E: $4,420,414
Real Estate: Not Disclosed
Year Established: 1990
Employees: 15
BBN Listing #: 274934398
Broker Reference #: CBI035-D

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Business Overview:

Having been established over 30 years ago, this asphalt and paving business has built an excellent staff and management system which will allow new ownership the opportunity for passive ownership. The team consists of 15 Full Time W2 Employees + 12 seasonal laborers. They also boast an extremely efficient general manager who knows the ins and outs of the operation and provides support for billing, supply ordering, A/P and A/R, reporting, and contractual agreements. Based in South Dakota, this business offers services including asphalt, surface treatments, chip sealing, armor coating, and crack sealing. Their client base is made up of primarily State, County, and Municipal Governments as well as Corp of Engineers and they also handle some residential work. Included in the purchase of this business is over $4M in assets. Their fleet of equipment includes trucks ($479,000), oil distributors ($796,000), chip spreaders ($519,000), dump trucks ($437,000), tractors, trailers, rollers, and tanker trucks. On top of the great aspects of this business, their current work in progress exceeds $7.5M!

The employees waste no time and often complete small projects while in the area for larger projects. Small projects can be completed in as little as one day, and they complete even their largest projects within 10 days. Billing is also done in a timely manner, with invoices going out on the day of completion of the project. On smaller, private projects, the cost is collected before the project even begins! Many of their projects come from throughout South Dakota and Nebraska, filling up their schedule by April by winning bids in each area. With enough current equipment to support an additional team, the resources are ready to go to expand the business if desired!

Priced at $5,300,000, a down payment of $795,000 would return $439,971 in the first year. The assets associated with this business collateralize over 70% of the purchase. This South Dakota asphalt paving business is ready for their next step and is an excellent opportunity for any new owner, as the current responsibilities of the owner consist of only project oversight!

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Market Competition and Expansion:

Growth Opportunities: There is enough existing equipment to support an additional team if desired.

Reason for Selling:

Retirement

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

Documents:

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