Details - Information last confirmed on November 5, 2020
With over 400 current clients in Iowa, Illinois, and Wisconsin, this turnkey solar solutions company has $2M in secured work! Providing solar integration for residential & commercial clients, the business is well-established in the region. Based out of a 4,000 sq. ft. space in Dubuque, the team has an experienced Master Electrician and Project Manager already in place; install and electrical work is subcontracted out as needed. With over 400 installs since the company’s inception and a pipeline of $15-17M, warranties have expired, which could certainly lead to service contracts being offered and a boost in revenue. They offer a variety of services including design, procurement, construction, project financing, quality assurance, and consulting. The 2 owners currently share operations and development roles. The range in price for residential customers (50% of their client base) is $17-$25k. On the commercial side, it can range from $20k-$2M, depending on the size and scope of the project. There is a well-established reputation with some large-name commercial clients in the region, with long-standing relationships ranging from 2-7 years. The company uses top-notch Helioscope software for project design and industry-leading Energy Toolbase software for proposals.
Assets include a 2021 Chevy 2500, a 2015 Ford F150, a 2015 Chevy 1500, and a work van, totaling more than $80,000 in value. There are substantial growth opportunities for a new owner. As electrification is increasing throughout the country, customers looking to take advantage of the tax incentives and economic benefits of solar integration will only increase. Expanding the client base in the commercial and industrial space would lead to tremendous growth.
Priced at $3,300,000, a 12.5% down payment of $412,500 returns $409,177 in the first year after debt payments, which is a 99% return on investment.
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