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Listed by:

The Firm

Earthwork Utility Systems Shoreline Protection For Sale

Texas, US
Asking Price:
$17,500,000
Sales Revenue:
$23,545,471
Cash Flow:
$3,495,507

This earthwork and industrial site prep company has is well-diversified, completing 225 jobs per year with 90+ full-time employees! Their sale size that ranges from $10k to $1.5M, with an average of $350k. With $9.4M in WIP and over $3M in their pipeline, work is plentiful for this Texas company. They offer a vast array of heavy civil construction services, including building streets, subdivisions, commercial site preparation, and industrial work at petrochemical plants, as well as utility system construction, earthwork, site preparation, coastal erosion control, shoreline protection, and general maintenance. Clients are comprised of private developers, industrial, city, county, and state governments, and GC’s. This versatile offering of services and diverse client base works in this company’s favor, as they don’t rely heavily on one client or sector. Approximately 20% of their work is as the GC, primarily for the county, city, or state. The other 80% involves working for the GC on a project as the sub. While they do have a go-to list of subcontractors when needed, the majority of the time, it’s their own 90+ person team completing the work, which boosts profit margin.

Over $13M in assets includes $4.4M in heavy equipment, $1.7M in vehicles, $57k worth of trailers, tools valued at $361k, and office furniture & software worth $379k. The team works out of a 6,000 sq. ft. office building located on 5 acres of land; their facilities also include 1 heavy equipment shop, 1 truck shop (2,000 sq. ft. each), and 1 fuel & oil shed (1,200 sq. ft.). The owner of the business owns the facility under a separate entity and leases it back to the business for $9,000/month; this rate would be kept the same under new ownership. With a solid reputation in the area, the business has long-standing relationships with customers and GC’s alike; they are able to keep their service area within a 100-mile radius of the office.

Utilizing top notch ComputerEase, HCSS, AGTEK, and Trimble software, this well-respected team receives invites to bid from GC’s they’ve worked with over the years where they have a 60% win rate; they also subscribe to websites that send notices of upcoming projects that are up for public bidding, with a 25% success rate on those. Priced at $17,500,000, there is ample opportunity for growth. Expanding the service area to other gulf states for high margin erosion control projects and actively pursuing more bids would certainly lead to an increase in revenue. There is currently a very limited sales team and little to no marketing. Working Capital is $2.1M and would transfer to the new owner.

Property Information

Real Estate:

Lease

Location:

Port Lavaca, Texas

Premises Details:

Lease: 5 acres of land, with 1 office building (6k sq. ft.), 1 heavy equipment shop (2k sq. ft.), 1 truck shop (2k sq. ft.), 1 fuel & oil shed (1,200 sq. ft.): $9,000/month

Business Operation

Expansion Potential:

Expand service area, pursue more bids, open a satellite office in an area of the state where population is booming

Employees:
90+ FT W2 employees; plus, a go-to list of subcontractors hired as needed
Years established:
1959; incorporated in 1971; under current ownership since 1996

Other Information

Support & training:

6-12 months

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

Purchase Price: $17,500,000

12.5% Buyer Down Payment $2,187,500
12.5% Seller Financing $2,187,500
75% Bank Loan $13,125,000

Related Documents:

Contact The Firm

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