Commercial Electrical Contracting In Central PA

Business Overview:

Founded 5 decades ago, this well-established electrical contracting company has built a strong reputation serving commercial, industrial, and institutional clients throughout Central Pennsylvania. With a 60-mile service radius, the firm is strategically positioned in a region experiencing rapid growth, including significant multi-year projects with the close by university. The business specializes in a wide range of projects including production plants and factories, hospitals, universities, retail spaces, and public buildings. Key clients include Penn State University, hospitals, the Department of Transportation, and a nice MSA with the railroad. The company operates from a 4,000 sq. ft. office with an attached warehouse for material storage, located in Altoona, PA. The team consists of 5 full-time office staff—2 experienced Estimators/Project Managers and 3 Office Administrators, alongside a skilled union workforce of approximately 25 field employees. The seller provides high-level oversight, manages finances, and does not do any labor or client interaction. The business is being offered for sale due to the owner’s age and retirement, presenting an excellent opportunity for a new owner to step into a turnkey operation with decades of strong industry relationships, skilled staff, and a proven track record of success. To ensure a smooth transition, the seller is committed to offering training for up to 1 year and has offered to carry 10% of the purchase price as a show of good faith in the continued success of the business post-close. With a purchase price of $2,900,000, a buyer would need a down payment of $290,000 unborrowed funds to become the new owner. Included in the purchase is a work in progress of over $900,000 and a working capital of $967,000. Future growth opportunities include submitting more bids, enhancing marketing efforts, and leveraging the area’s ongoing development.

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Property Features and Assets:

Assets Included in Purchase: $1,562,145

Market Competition and Expansion:

Growth Opportunities: The community is growing rapidly; there are significant multi-year projects that are being planned near the university. Submit more bids and market services

Reason for Selling:

Aging Owner/ Retirement. Kindly ask the seller for more information.

Additional Details:

Documents:

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