Paving/Asphalt in Sioux Falls with $7.5M Backlog

Sioux Falls, SD


Asking Price: Annual Revenue:
$5,600,000 $8,478,792

Services: Construction, Contractors


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RE: Paving/Asphalt in Sioux Falls with $7.5M Backlog Broker: Jared Olson
Owner Financing is Available!
15% Buyer Down Payment $862,500 15% Seller Financing or Equity $862,500 70% Bank Loan $4,025,000

Quick Facts

Asking Price: $5,600,000
Annual Revenue: $8,478,792
Net Profit: Not Disclosed
Cash Flow: $1,202,882
Total Debt: Not Disclosed
FF&E: $2,231,000
Real Estate: Not Disclosed
Year Established: 30+ years
Employees: 15
BBN Listing #: 57334398
Broker Reference #: CBI035-C

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Business Overview:

For over 30 years, this South Dakota asphalt paving business has it all with excellent repeat clients, a highly experienced team, and the option to grow! This company consists of 15 FT, year-round employees and hire on additional workers for projects as needed. Of these additional hires, they have 12 seasonal workers who continue to come back year after year. 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. The current owner is very hands on, visiting projects daily and helping out when and where they are needed. Their fleet of equipment includes trucks ($479k), oil distributors ($796k), chip spreaders ($519k), dump trucks ($437k), tractors, trailers, rollers, and tanker trucks. With their vast amount of equipment on hand, they are able to complete projects for the state, county, and municipal governments. On top of the great aspects of this business, their current work in progress exceeds $7.5M!

They 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 $5,600,000, a down payment of $862,500 would return $375,196 in the first year, being over 70% collateralized! 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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Property Features and Assets:

Lease: Building with three office spaces, three outdoor parking lots, and 2,500 square feet. Personnel:15 Full Time W2 Employees + 12 seasonal laborers.

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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