(AAES Engineering, Inc.) The majority owner of the business was in his 60’s and was ready to transition into retirement, and the minority partner was 50. They decided that the best option would be to sell the business and have the minority owner work for the new acquiring company. We introduced several potential buyers and received multiple offers on the business. The best offer was from a large construction company with multiple offices that wanted to expand its capabilities to provide engineering services. The construction company provided an employment agreement for the minority partner and the terms of the deal that satisfied all parties. Please let us know if you would like to sell your engineering firm or view our engineering companies for sale.
(Eustance & Horowitz) We had multiple offers on this business opportunity. One of the proposals was from an Architectural firm that wanted to expand into Engineering to provide a broader range of services to its clients. The other offer was from an Engineering company that wanted to expand its range of engineering expertise and capabilities from the potential firm they were interested in acquiring as well as picking up long-term clients in the Hudson Valley. We negotiated back and forth with a variety of terms from both parties. Ultimately the other Engineering firm came up with the most favorable terms by agreeing to assume the seller’s debt in addition to a purchase price.
(Savik & Murray LLP) The owner was in his 60’s and was ready to transition into retirement. We introduced several potential buyers and received multiple offers on the business. The best offer was from an Architectural firm that wanted to expand into providing engineering services and also get an office in Suffolk County where some of their clients were. We were able to negotiate a deal that worked for both parties where the seller would stay on after the sale to help with a transition. Contact us to sell your Civil Engineering Firm.
(James LaSalla Associates) A business that specializes in providing engineering services to large telecom companies. 60% of the company’s revenue was from AT & T. We contacted hundreds of engineering firms to get some companies that were comfortable with submitting an acceptable offer on a company that relied so heavily on one customer. We were able to get about 20 to sign Non-Disclosure Agreements and 3 submitted proposals. We closed on a deal for 90% of the seller’s asking price. The buyer was a larger diversified engineering firm that wanted to provide additional services to new clients.
(O’Donnell Stanton) Two partners were both ready to retire and they had some family members in the business so they wanted to make sure they got the right buyer that would take care of the employees and customers and they decided that another larger engineering firm in the NY/NJ area would be the best fit to take over their business. The owners are staying on after the sale to ensure a smooth transition.
(Angle Engineering) This company, headquartered in the Western US, provides a wide range of services including initial investigation, taking field soil samples, laboratory testing, seismic analysis, engineering analysis, and designs for foundations, streets sections, and other structural components. They provide geotechnical, environmental, inspection and materials testing services to residential, commercial, and public clients. Long-term projects include the development of 50 subdivisions, 2 active retirement communities, and extensive work with elementary and middle schools, auto dealers, and churches. We found a buyer that was a private equity-backed engineering, environmental services, and architectural firm that had acquired a number of engineering firms which the seller was familiar with. The ability to ask the owners of these firms how they were treated post-sale gave the seller comfort in moving forward with the deal. They agreed to stay on after the sale to help with a transition for the clients and employees.
(Zimmerman Engineering) The owner was in his 60’s and was ready to transition into retirement. We introduced several potential buyers, and the business was ultimately sold to another larger Engineering firm in New York City that wanted to develop their Surveying business and to diversify their Engineering offerings. The seller also signed a 4-year employment agreement which allowed him the option to retire earlier than the 4 years if he so desired.
(BGM Engineering) This company has multiple offices and provides services that include structural design, assessments, inspections, construction administration, surveying, and expert witness testimonies. We had several offers, and in most cases, we have sold engineering firms to another larger engineering company. But in this case, the buyer was a young engineer in his 30s that had saved up enough money for 10% of the purchase. With our banking contacts, the buyer was able to get SBA financing so that the seller was paid 90% of the purchase price at the closing and was financing 10% to be paid over time. The seller will stay on after the sale to help the buyer learn the business and provide a transition period.
(Sherman & Frydryk) The seller was in his mid-50s and was hoping to retire by age 60 after selling the business and working for a few years under an employment agreement. We had some interest from buyers within the industry and outside the industry. The best offer came from an engineering firm that is located in Eastern Massachusetts. One of the partners from the buyer’s company was commuting 1.5 hours each way from Western Mass. Acquiring this company shortened his commute to 15-20 minutes and they acquired additional customers and employees which allowed them to grow profitably. The seller got along well with the buyer and agreed to sign a 3-year employment agreement that would allow him to transition into retirement.
(Certified Testing Labs, Inc.) Prominent Construction Testing and Inspection Firm. The Company provides inspection services to the commercial and residential construction market. Their clients are the building owners, but most interaction is between contractors, architects, engineers, and the Company. Clients retain the firm to test all aspects of the building structure as it is being commissioned and built. This company is one of the few that offers 3 types of inspections: 1. Materials: Concrete and masonry field & lab, for rebar, footings, fireproofing, soils, and structural steel. 2. Non-Destructive: Radiography, ultrasonic, magnetic particle, and liquid dye penetrant. 3. Special Inspections meet specific state as well as national standards. The business was sold to an engineering firm that wanted to broaden the services that they can offer to their clients. industry.