Annual Revenue: $2,284,068
Net Cash Flow: $375,000
Location: New Haven County, CT
For sale due to owner retirement – this company specializes in commercial structural cast-in-place concrete work, slabs, sidewalks and curbs. Work performed consists of Foundations, Laser Screened Floors, Raised/Elevated Parking Decks, Architectural Concrete, Repairs and Renovations. Each project starts with preconstruction services to ensure that work is performed within compliance with Town, State and National requirements and to ensure that the projects are completed within budget and required code compliance. The company maintains all Certifications required. The company is bonded and ACI Governed. At present company is executing projects in Central Connecticut and currently has a backlog of over a $1,000,000 worth of work for this year. The company has had revenue of over $3.7MM in the past but the owner is not interested in managing that much work. Equipment can support work over the $4.0MM annually.
Growth/Expansion Opportunity: Current ownership believes that this company can easily accommodate additional work with an aggressive estimator, additional project managers, and accepting additional work. Most of the work being done presently is primarily executed in Connecticut.
Inventory: Minimal inventory is kept on hand as most material is purchased by the project – estimate is $50,000.
Reason for Sale: Retirement
Equipment: Equipment included in the sales price is estimated at a fair market value of $400,000
Staff: Current staff consists of the owner, 1 office manager, 1 estimator, 1 Project Manager; and 12 full-time employees.
Transition: 30 days included in the sale; an additional year of transition to be negotiated.
Real Estate: Owner Occupied Property – 10,000 sq ft warehouse; 1,500 sq ft office, storage yard. Owner will structure favorable long term lease.