Business Overview
About the Company
This professional PM and construction management firm plans and
manages renovations and maintenance for military bases across
the upper West Coast. Clients are 90% Federal/Government and
10% private hire, including the VA, Navy, US Coast Guard, Army,
School Districts, and Apartments/Condos. There are typically 20-30
active jobs concurrently which represents a current WIP of
$24,000,000 plus several multi-year contracts in backlog. A highly
developed management team is in place where there are about 35
key employees, including a President, CFO, 4 Project Managers, 2
Engineers, 5 Superintendents, 2 Foreman, 5 Estimators, 4 Quality
Control, plus Admin, IT, and Assistants. This allows the owner to
work remotely, spending only 10 hours per week providing
“strategic vision” to the leadership team. They have a 4+ year
backlog with multi-year contracts with proprietary deal flow in over
$120 Million in contracts. The Seller is willing to stay 2-3 years postclose and will also offer a promissory note and/or equity roll of 30%
as a sign of good faith. With the purchase, a buyer would receive
$2.9M in assets, including working capital and the vehicles and
equipment needed to continue successfully. CapEx remains very
low at less than $200K per year. Reoccurring clients are the VA,
Federal Government, and the US Military. There will not be any
impact on this business should there be a recession, Government
shutdown or upcoming election. In fact, due to the passed US
Infrastructure Bill, this business will have organic growth as the bill
has billions of set asides for our military bases.
