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COMMERCIAL CONCRETE RESTORATION CONTRACTOR

Construction

Client Number

61465

EBITDA

$4,100,000

Revenue

$13,000,000

Region

Southeastern U.S.

Contact Details

Jack Sluiter

(704) 840-8390

jsluiter@generational.com

For over 30 years, this company has been providing specialty concrete services to commercial and industrial customers throughout the Carolina / Virginia region. Their services include both renovations (70%) and new construction (30%) in a variety of industries. The company sets itself apart from its competition through its strong customer relationships and superior reputation for quality services. This attention to quality has helped the company maintain a 90% retention rate and an active account list of over 300 clients.

The Company has an advantage on winning new projects over its competitors due to its broad experience, capabilities, financial strength and strong reputation. Roughly 70% of their contracts are gained from negotiations, without participating in a competitive bidding process. Projects typically range between $40,000 and $50,000 and are 5 to 10 days in duration; Larger projects can exceed $1 million. Although the majority of their work comes from doing repairs and renovations, they also do a variety of new and specialty construction work like Terrazzo and Epoxy flooring, Sub-floor preparation, moisture remediation and other concrete repairs. In 2019 40% of their revenue came from the pharmaceutical industry.

INVESTMENT APPEAL

Highly Profitable Niche Business: This company has established a highly profitable niche business, with 2019 EBITDA margins of 31.7%; significantly higher than other specialty contractors of similar size.

Strong Base Year Sales: Historical sales have grown from $10,032,000 in 2017 to $12,998,000 in 2019, representing a compound annual growth rate of 27.7%. In spite of the Covid environment for 2020, Management expects to hold steady at $13,000,000 in revenue.

Superior Name and Reputation: In business since 1989, the Company has built substantial goodwill by providing high quality specialty flooring restoration and concrete repair services. Management credits its reputation as a critical factor that has contributed to the Company’s success.

Management Will Remain through Transition: The active owners are willing to remain with the Company at least during a transition period in order to ensure a seamless transfer of ownership. Should the prospective purchaser desire ownership to hold full-time positions with the Company, ownership would be interested in considering this type of arrangement.

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