Non-Union Plumbing - 100% B2B With Absentee Owner For Sale

This thriving trades company works directly with a
developer as the client, they do not provide plumbing
services directly to a homeowner, nor do they have a
service division. This make them a very unique
plumbing organization that specifically works with
general contractors and land developers who are
“Neighborhood Production Builders.” Currently, there is
Work in Progress over $64 million dollars, plus a strong
backlog of 90 million that already has the funding. This
backlog will stretch over the next 36 months. These are
neighborhoods that are NOT affected by interest rates
or residential real estate markets. This non-union shop
has 98 employees on staff, with 8 in leadership
including a President and a CFO, with the other 90 as
trained plumbers and field technicians. The business
services a 60-mile radius around Sacramento, California
with 6 top reoccurring clients. Included in the purchase
is working capital of $1M, along with $1.6M in
equipment, vehicles, and improvements. The owner is
selling due to age and retirement, though they owner is
already in a passive role, providing only light oversight
as needed. Their position would not need to have any
replacement.
Priced at $15,750,000, the owner is willing to hold 20%
of the price as either a seller carry or equity roll, or a
combination thereof, showing a vested interest in the
ongoing success of the company after closing. There
are several growth opportunities, including expanding
into service & maintenance work, and targeting more
apartment complexes for commercial projects.