As of October 2023, Pending Projections sit at $37 Million with WIP at $33 Million. Situated in West Texas, this commercial general contractor offers Construction Management at Risk (CMAR) services (80%) and Lump Sum Bids (20%) to non-profit, religious and commercial, and public works clientele. Thanks to top ratings and nearly seven decades of ongoing quality operations, the company has long-term relationships which bring regular business. For the last thirty years, the business has averaged over $800,000 in inflation adjusted earnings. A slow-down in the local economy depressed 2019 earnings. Experienced personnel of 20 nonunion employees could remain post-sale and continue functions alongside outsourced contractors after a year's smooth transition under their current management. Potentials to maximize command over the market exist through younger personnel, increased bonding capacity, equipment purchases and newer software. The company could also immediately reduce operating costs by building its own office on the debt free land it owns which already features a storage yard for construction equipment and trucks. The current building is a 4,000 SF Class A space and is only partially being used. Current office lease renews in 2024. Apart from word-of-mouth referrals backing a large and repeating customer base, improving the website and increasing bonding capacity would be a great growth opportunity for buyers. It is important to note that the buyer should qualify for bonding between $30 - 50 Million. This business will be an excellent addition to your portfolio!
- Asking Price:
- $3,900,000 Furniture / Fixtures included
- Sales Revenue:
- $19,228,501
- Cash Flow:
- Undisclosed
Property Information
- Real Estate:
-
Lease
- Lease Terms:
-
Holds Renewable tenancy expiring in 2024.
- Location:
-
Property marketed for $200,000 is available for optional purchase.
- Premises Details:
-
Listing also includes current Receivables of $2,218,097 plus Prepaids & Other Assets valued at $4,681,097
- Size in square feet:
- 4,000+/-
Business Operation
- Reasons for selling:
-
Approaching retirement and/or pursuing other interests.
- Trading hours:
-
Monday to Friday 8AM - 5PM.
- Employees:
- 32 nonunion & outsourced contractors.
- Years established:
- Founded 1954
Other Information
- Support & training:
-
Year’s period of smooth Owner Transition under current management.
- Owner financing:
- Owner financing is available. Please contact the seller for more information.
- Financing available:
-
Negotiable up to 20% for the right buyer.
- Furniture / Fixtures value:
- $800,000 - included in the asking price
