Scheduled Maintenance for Commercial Roofing

Erie, PA
Erie County


Asking Price: Annual Revenue:
$14,900,000 $17,541,382

Services: Construction, Contractors


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RE: Scheduled Maintenance for Commercial Roofing Broker: Jared Olson
Owner Financing is Available!
15% Seller Financing or Equity Roll $2,235,000.

Quick Facts

Asking Price: $14,900,000
Annual Revenue: $17,541,382
Net Profit: Not Disclosed
Cash Flow: $3,615,422
Total Debt: Not Disclosed
FF&E: $6,050,000
Real Estate: Not Disclosed
Year Established: 1990
Employees: 80
BBN Listing #: 60134398
Broker Reference #: CBI0192-F

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Business Overview:

With $16 million of backlog in signed contracts, this commercial roofing business solely relies on scheduled maintenance work, meaning they do not handle any hail or water damage! They fully self-perform all labor and have an extensive staff and established chain of command. Their team includes 25 administrative staff members and a combined 60 metal workers and craftsman. The business will use subcontractors on a rare and minimal scale for specialty work. Their client base spans over a 120-mile radius of Erie, PA and consists of exclusively commercial clients, which, coupled with their excellent reputation, has led to their customer pool being made up of 60% recurring clients. Having been open for over 30 years, this business and team have been able to acquire an excellent reputation with their clients and have established profitable partnerships in their community and surrounding areas which keeps word of mouth marketing effective all year round. Though the owner is active in oversight and management, he is willing to stay on for 2 years post-close to not only train & transition, but to help find and train his replacement if the buyer desires. With over $6 million of assets included in the purchase, new ownership can expect to continue this business’s ongoing growth pattern without investing excessive resources into expanding opportunities.

This area is well known for their requirements of union-based employees and businesses for construction or repair work. Thankfully, this business is well intertwined with local unions, and 75% of their current projects come from those established partnerships. While they do some public work with these ties, expanding their partnerships and open bids to include more municipal work would be a huge opportunity for growth. Other opportunities would include expanding into residential work or growing the new installation side of business as their current primary focus is maintenance and repair.

Priced at $14,900,000 a 10% down payment of $1,490,000 returns $1,626,631 in the first year after debt payments. The current owner is selling as part of his retirement strategy.

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Property Features and Assets:

Assets: $6,050,000 Vehicles, Equipment, Office Assets: $3,650,000 Inventory: Fluctuates, $40,000+ A/R: $5,500,000 Backlog: $16M in contracts set *amounts may vary, assets may be depreciated, replacement cost, or fair market value.

Market Competition and Expansion:

Expanding roofing services to include residential work, partnering with municipalities to do more public repair work.

Reason for Selling:

Retirement Planning.

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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