Industrial Painting & Site Prep - 90+ Employees

Not Disclosed, NY

New York (90%), Northeast (10%)

Asking Price: Annual Revenue:
$19,050,000 $33,225,739

Services: Construction, Contractors

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RE: Industrial Painting & Site Prep - 90+ Employees Broker: Cortney Sells
Owner Financing is Available!
Purchase Price: $19,050,000 OPTION 1 Acquire 85% Equity Interest $16,192,500 70% Cash at Close $13,335,000 15% Performance-based Seller Note $2,857,500 15% Equity Roll $2,857,500 OPTION 2 Acquire 49% Equity Interest $9,334,500 49% Cash at Close $9,334,500 51% Equity Roll $9,715,500

Quick Facts

Asking Price: $19,050,000
Annual Revenue: $33,225,739
Net Profit: Not Disclosed
Cash Flow: $4,054,460
Total Debt: Not Disclosed
FF&E: $2,797,000
Real Estate: Not Disclosed
Year Established: 2005
Employees: Not Disclosed
BBN Listing #: 805134398
Broker Reference #: TRA002

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Business Overview:

With over 90 employees and nearly $2.8M in assets, this business has over $73M in work-in-progress and backlog! Located in Ohio and New York, this company specializes in painting large infrastructure projects as well as any site preparation associated with a job. Assets include $2.1M worth of painting supplies, safety equipment, rigging, and tools, and $680k in trucks and trailers; all equipment is in place for continued success. The team of union foremen and painters work primarily for general contractors and maximize their awarded contracts through competitive bidding and strong professional relationships.

Service area is 90% in the state of New York and 10% in Pennsylvania, New Jersey, Delaware, and Ohio. Operations are managed from the Ohio office and supplies are stored in a New York area warehouse. There are additional field offices for each large project where location-based staff report daily.

Clients are 80% recurring and consist of general contractors working on infrastructure & municipal projects. They have a highly skilled team of 92 people: 6 administrative staff, 3 project managers, 8 foremen, and 75 painters. Providing industrial painting and site preparation for bridges, tunnels, and transit stations, this company also does lead abatement and shield installation in the winter months when painting is not an option. The team completes approximately 40 projects per year – average projects run in the $500k-$1M range.

Increasing capital to increase bonding capacity would certainly lead to growth in revenue, as well as expanding services to include outdoor painting of private buildings.

Both owners currently work within the business. The majority owner focuses on financial oversight and business management and is willing to remain on staff through transition and beyond. The other owner is the lead estimator and oversees field operations, and he is willing to stay on with the company for several years after closing, as desired.

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Property Features and Assets:

Equipment: $2,165,000: Painting supplies, safety equipment, rigging, tools, office equipment Vehicles: $680,000: Trucks, trailers Work in Progress: $73,775,848 Intangible Assets: Positive reputation for completing large-scale projects CAPEX: $100,000 or less annually *amounts may vary

Market Competition and Expansion:

Manage utilization and profitability, increase team to increase capacity, increase local work contracts awarded, increase capital to increase bonding capacity

Reason for Selling:


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.

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