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Heavy Civil and Underground Construction for Residential Markets

Construction

Client Number

62991

EBITDA

$6,085,000

Revenue

$50,000,000

Region

Southwestern U.S.

Contact Details

Chad Comroe

(972) 232-1147

ccomroe@generational.com

The Company is a vertically integrated construction company performing heavy civil construction, earthwork, basement excavation, and civil concrete projects. The Company’s construction capabilities include: Residential, Municipal, Commercial, Industrial, Underground Utilities, Potable Non-potable Water Facility, Sanitary Sewer, Storm Sewer System, Dry Utility Conduit, Subgrade Preparation, and Concrete work. In 2020, the Company completed projects serving residential (81.9% of 2020 revenue), municipal (6.9%), commercial (10.2%), and industrial (1.1%) accounts. Contracts vary from less than $100,000 with a 2-week completion period to projects exceeding $10 million with an approximate 16-month completion period. Approximately 80% of revenue is generated from projects in the $2 to $4 million range. The Company has 125+ full-time employees. Investment Considerations: Blue Chip Customers: The Company maintains long-term relationships with blue chip national developers. The Company has strong ties to customers due to its industry expertise and excellent customer service. Diversified Customer Base: No single customer accounted for more than 11% of revenue during the historical period. The diversified customer base helps ensure that the Company will not be significantly impacted by the loss of a single account. Bid Environment: Approximately 80% of projects are awarded through negotiation based on past performance and strong relationships with existing accounts. The remaining 20% of projects are hard bid with an estimated bid success rate of 35%. Backlog of Signed Contracts: The Company’s backlog as of April 2021 was approximately $40 million. Large Equipment Base: The Company has a large equipment and machinery base. An asset list is available for review.

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