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Details - Information last confirmed on September 22, 2020
This prominent Engineering firm is headquartered in CT and licensed to work in the State of New York, Connecticut, and Massachusetts. It Specializes in Structural engineering, Special Inspections, Peer Review, and Construction Administration. At Present, the majority of the work is concentrated in New York City and surrounding areas in New York State.
Business Highlights: The firm has an average annual revenue of about $1.6 million over the past 5 years, with the average owner’s discretionary income in the $1.0 million range. With a solid reputation and a long history of solid working relationships with key clients, this company is positioned for steady growth under new leadership.
Ownership: The owner is a Structural Engineer and NYS Licensed PE.
Professional Staff: The firm has a highly-skilled and well-respected staff, Consists of approximately 10 employees plus the owner.
Reason for Sale: Retirement
Transition: Owner willing to entertain Long Term Transition for Qualified Buyer
Financing: SBA Pre-Approved with 20% down; Some Seller Financing TBD based on Buyers Qualifications.
NY State Ownership: Ownership restrictions per New York State Department of Education is a PLLC Structure. Principle Owner Must be a licensed New York State PE and must own 75.01% equity in the company. A non- licensed investor can own 24.99%.
At present, the company does employ a licensed PE that will qualify for a PLLC and will execute a management agreement that will allow the profits to flow to a non- qualifying financial investor under a management agreement.
Owner wishes to sell to a licensed NYS PE to ensure the proper transition of the client base.
Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.