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With over $14.5M in sales in 2020, 95% of the work for this commercial roofing company is self-performed! Established for over 20 years and with 100% commercial clients, their focus is on larger industrial and institutional projects; project size ranges from $75k to $3.75M. Offering reroofing (50% of their revenue) new construction (40%) and repair & maintenance (10%) within a 75-mile radius of Pittsburgh, this team of 90 employees is comprised of 75 craftsmen and sheet metal workers, along with 15 salaried support staff. The company subs out only as needed based on project size and ancillary services in the contract. Their clientele is a diverse assortment of consultants, general contractors, and private owners; this business is highly sought after in the greater Pittsburgh region. They currently have 28 jobs that are in various stages of progress. With over $9M in assets, the bank loan is nearly 70% collateralized.
The company is a mixture of union and non-union, with the union side making up 80% of their total sales and 60% of their current projects. Generally, they are the largest employer on a month-to-month basis in the union, they employ an average of 44 roofers and 15 sheet metal workers per day with a fairly even split of new construction vs. renovation, and mostly in the public sector. There are a large number of institutions in the area that require union members to perform their projects. The non-union side is more in the private sector, with 80% of their revenue comprised of new construction.
Priced at $13,500,000, this business is in a prime position for growth. Pursuing more maintenance work and roofing-related sheet metal projects would certainly increase revenue. With already long-standing client relationships in place, organic growth is inevitable if services are expanded.
Pursue more roof maintenance projects as well roofing-related sheet metal projects (coping, gutters, downspouts, etc.)
Purchase Price: $13,500,000
15% Buyer Down Payment $2,025,000
15% Seller Financing or Equity Roll $2,025,000
70% Bank Loan $9,450,000
*Nearly 70% Collateralized*
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