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Asking Price: $19,250,000

Dirt, Excavation and Road Contractors for Cities

Evansville, IN
Not disclosed

Excavation, Utilities and Infrastructure with a focus on roads and school districts and $21M in WIP. This firm has a diverse list of clients, including Municipalities 36%, State Government 22%, Schools 23%, and Commercial clients 19%. This Civil Contracting Firm performs site prep for Highways, School Districts and Municipalities throughout Virginia, West Virginia and Kentucky. The owner provides general oversight (by preference), which is not a necessity, as owner is 80 years old. He started the firm more than 5 decades ago and is willing to stay for a transition period of 1-2 years post-close. The reason for selling is obviously age. They have an impressive team in place of 120 , including 3 SVP’s that manage all aspects of the company, 8 superintendents, 1 office manager, 1 administrator/billing, and /- 110 laborers. The purchase price includes over $14 million in assets which collateralizes the bank loan! A buyer will receive construction & transportation equipment, office equipment & software, and a working capital! A 3rd party appraisal was completed to verify the value of the assets. The CapEx budget is only $350,000 because there is a surplus of assets with capacity for room to grow. They do not have any MBE, WBE or Veteran status. Priced at $19,250,000, this business is primed and ready for a newowner to step in and enjoy a reputation that has been built over the last 5 decades. As a show of good faith and vested interest in the ongoing success of the company, the owner is willing to carry 15% of the purchase price. The owner could sell the equipment and cash out the A/R for more than the list price, but due to his loyalty and employees in place, he is choosing to sell the business as one cohesive unit so everyone keeps their jobs, and the business can continue to thrive as his legacy.

Cash Flow $4,049,009
Revenue $30,795,592
$ Owner Financing Available

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