Electrical Engineering Company, 164% Revenue Growth, Quick Sale Needed – Has Accepted Offer
Price: $4,000,000
Annual Revenue: $8,758,543
Net Cash Flow: $2,592,276
Industry: Engineering
Location: Florida
This business has an accepted offer. Please view our other Engineering Firms for sale.
The company is a licensed electrical contractor serving industrial clients across the State. It provides consulting, procurement, construction, and disposal services for power generation.
Company revenue was $3.3M in 2021 and $8.7M in 2022, growing at 164% and operating at a gross margin of ~57%. The company prides itself on quality and safety, evident in its safety rating of ‘A’ which is a requirement to perform work at power plants. This, in addition to its minority status, sets it apart from its competitors and as such, for various federal projects, the Company is prioritized for projects.
Team: The owner is supported by 2 operational managers and a multi-disciplined team that has worked for utilities in new construction, maintenance, design, and engineering roles throughout their careers. Unionized resources are utilized for operations to ensure the best qualified operational staff.
Services and Clients: The Company serves client accounts with a national and federal focus with sustainable operations. Services at power plants include electrical and instrumentation contracting, HVAC, and bus duct installation among other services.
Listing Details
Reason For Sale:
The owner wants to focus on her personal life and medical practice.
Training & Support:
The current owner is willing to partake in a transition process that will ensure minimal impact on business operations.
Summary
Competition:
Entry to the market as a vendor in this space is difficult because of the specialized work performed. The company is a niche operator with a range of services and fixed clients. The barrier to entry to play in the market is low; however, players will benefit from certification, veteran-owned status, and a large bonding capacity to improve scale.
Potential Growth:
The market is fragmented, and this presents an opportunity to acquire players who have secured federal contracts to expand and penetrate other states.
Recycling lithium at the utility companies’ battery banks after dismantling batteries at solar plants will increase revenue. In addition to this, focusing more on the specialized service of maintaining wind turbines is also a means to revenue growth.