This established commercial construction company specializes in commercial construction and design/build services and has a solid reputation for excellence in the state of Florida.
The company has a strong track record of successfully completing a wide range of projects across various sectors, including medical, office, retail, educational, storage, restaurant, religious, and municipal.
In 2023, the company generated $18.7 million in revenue, showcasing its financial strength. Despite the challenges posed by the global pandemic, it stabilized the gross margin at 8%. Notably, the Seller’s Discretionary Earnings (SDE) were $0.71 million in 2023.
2023 had a slower start than anticipated, primarily because of delays in a few projects (delays related to design and permitting issues). The revenues are around $18.7m, with an SDE of 0.71 million. Most of the delayed projects have restarted in H2, and the management estimates that the company SDE will be around $1.5 million by the end of 2024, with a gross profit of $2.5 million.
Note: (*) refers to revenue in 2022 that comes from long-term customers or multi-year projects.
Team: CEO – 1 FT, Director of Ops - 1 FT, Accountant - 1 FT, Administrative - 1 FT, Project Managers - 2 FT, Asst. Project Manager - 1 FT, Estimator - 1 FT, Site Supervisor 4 – FT. The company also has occasional day labor on each job site for mostly clean-up activities.
Services and Clients: The company provides full-suite construction & contractor management, and design services for commercial and institutional clients. Its expertise extends to clients in medical offices, assisted living facilities, self-storage, churches, school districts, universities, food service, municipal, tech, and aerospace amongst others. Most of the company projects are negotiated or repeat projects, with very little bidding done – 70% long-term client revenue (*).
Project Pipeline – The company possesses a robust project pipeline consisting of contracted projects worth $41.7 million and has signed agreements for upcoming projects totaling $10 million. This pipeline ensures a steady stream of projects and presents an excellent opportunity for the acquiring party to capitalize on future business prospects.
