Specialty Painting Commercial Contractor

Not Disclosed, WA
King County

Asking Price: Annual Revenue:
$3,500,000 $5,500,000

Services: Construction, Contractors

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RE: Specialty Painting Commercial Contractor Broker: Bill Southwell
Owner Financing is Available!
The seller will finance a portion of the transaction for a qualified buyer.

Quick Facts

Asking Price: $3,500,000
Annual Revenue: $5,500,000
Net Profit: Not Disclosed
Cash Flow: $2,000,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: Not Disclosed
BBN Listing #: 274035781
Broker Reference #: COC2022

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Business Overview:

This company is a family-owned business that was formed approximately twenty years ago to provide specialty painting, coating applications, and wall covering sub-contractor services on a broad range of commercial projects. 90% of the business services are on the interior and 10% on the exterior for each job. The business offers a wide range of services that allows them to selectively bid more jobs with greater flexibility. The most common services provided as a percentage, include Interior Painting (100%), Exterior Painting (10%), Wall Coverings (30-35%), Special Coatings (30%), Water Repellents (10%), and Intumescent Fireproofing (10%). In addition, the business can also provide Tackable Bulletin Boards, Virtual Felt & Fabric Wallcoverings, Graphics, Stenciling, Modular Arts Wall Systems, Magnetic White Boards, and insulation coatings.

The business almost exclusively services King & Pierce Counties, however, they have the capability to bid jobs anywhere in Washington or out of state as well. By design, the business commits 90% of its focus on jobs bids for Public Works projects, that often includes: School Districts, Medical Facilities, Fire Stations, Police Stations, and Courthouses. The Public Works niche’ market has proven very lucrative and stable due the Government’s advance capital authorization for the projects, coupled with their need to improve facilities even when the economy is in an economic downturn. Most Public Works projects have an 8–10-month lead time from the date that the bid is accepted, a contract is signed, a bond is secured, and work commences. The scope of each job Invitation to Bid (ITB) for Public Works projects are determined by the General Contractor for each project based upon several specialty needs and subcontractor “divisions” capabilities. In an effort to facilitate most selected bid opportunities, the business is qualified in 15 different division service areas using exclusively in-house labor in areas ranging from Plastic Paneling (06 64 00) to Intumescent Resistive Coatings (67 81 23), to Glass Fabric Wall Coverings (09 72 20), and many more.

The business currently has more than $3,000,000 in binding Public Works government contracts on the books for 2022.

The business is strategically located in the Seattle metropolitan area near the highway infrastructure. The business rents a 6,400 square feet. building that is allocated 35% to office/administrative and 65% to the shop/service area. The shop area supports 15’ ceilings and is capable of storing all inventory/supplies and up to 6 vans whenever necessary. The current office lease is at $5,500 per month, plus NNN charges. The current lease term is set to expire on October 31, 2022, but the Landlord has assured the Sellers that they are open to negotiating an extended lease with qualified new tenant at current market rates.

One of the Sellers (husband) serves as the General Manager with daily oversight over all business activities, plus job estimating, and hiring. The other Seller (wife) reviews contracts and oversees both accounting & payroll. The business also supports 35-40 specialty painters who are all paid the current prevailing hourly wage at $47.70. The office supports two salaried estimators who are paid $120,000 & $100,000 respectively, a salaried project engineer at $75,000, and a bookkeeper at $30.00 per hour.

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Additional Details:

  • The property is owned.
  • 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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