Seller's Contact Information
- RE: Site Prep For Government Projects
- Contact: Jared Olson
Quick Facts
Asking Price: | $5,590,000 | |
Annual Revenue: | $26,000,000 | |
Net Profit: | Not Disclosed | |
Cash Flow: | $1,560,000 | |
Total Debt: | Not Disclosed | |
FF&E: | 6,109,312 | |
Real Estate: | Not Disclosed | |
Year Established: | 1979 | |
Employees: | 50 | |
BBN Listing #: | 98834398 | |
Broker Reference #: | CBI033-L |
Business Overview:
This Site Prep company performs for some of the largest clients in NYC: including the NYC DOT, Department of Parks & Recreation, NY & NJ Port Authorities, and the Board of Education. The proof is in the performance with this NYC business as they have never defaulted on a project in their 43-year history. Their services include site work, concrete work, asphalt, excavation, drainage, water mains and
landscaping. Currently this company is projecting $26 million in sales with a cash flow of $1.5 million for 2023. This business currently has over $39M in backlog plus assets worth $7M which includes $2.3M in working capital.
Established in 1979 with a team of 20 core people in place, there is no shortage of trained professionals at hand, including office staff, project managers, and foremen plus 30-50 union laborers. This company is frequently selected for both standard and unique paving projects for multiple government organizations, resulting in repeat clientele. The owner currently works about 30 hours a week, and will
provide transition for 2-3 years. The owner is ready to retire but has a vested interested in the continuing success of this business, to show good faith he is willing to finance 10% as well as hold a 10% Equity Roll. The business utilizes a 12,000 square feet building which includes an office, shop, machines, storage with 8,000 square feet of unused space that could be used for expansion! A new owner could add plumbing, precast, fencing and hardscaping to the list of services as these are all growth opportunities.
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Property Features and Assets:
Heavy Equipment: $2,350,000 • Backhoes, Loaders, Excavators, Dump Trucks Equipment: $811,500 • Skid Steers, Rollers, Hydraulic Hammers, Asphalt Spreaders, Forklifts Vehicles/Trucks/Trailers: $466,000 • Service Trucks, Pickup Trucks, Dump Trucks, Diesel Van & Truck, Trailers Working Capital: $2,322,615 • A/R: $3,571,312 - A/P: $1,248,697 Leasehold Improvements: $159,197
Market Competition and Expansion:
Add plumbing services, precast, fencing, hardscaping.
Reason for Selling:
Retirement
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
Documents:
Relevant Links:
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