Incredible opportunity to own an established paving company based in Northern Virginia and serving the greater Mid-Atlantic region. The business has been owned and operated for over 15 years by the founder and maintains a very strong reputation for providing quality workmanship at competitive prices. The company is completely turn key with all the equipment and vendor relationships in place to continue operations starting on day one for the next owner. The company employs a team of skilled workers who are well-trained to do the job right the first time.
With over 5 million square feet installed the company is one of the country’s largest applicators with a track record of installing high quality projects along with exceptional customer service and support. The business provides high performance solutions for any project, including: pedestrian crosswalks, traffic calming areas, bus and bicycle regulatory lanes, playground and recreation spaces, parking lots, corporate logos and community branding. The company also specializes in stamped asphalt, innovative coatings and thermoplastic systems that enhance the aesthetic appeal to sustainable streetscape designs. These applications are practical, durable, cost effective, safe, attractive, and can be efficiently installed.
The company performs work for both commercial and residential clients with the breakdown of revenue being roughly 85% commercial and 15% residential. The company has cultivated a very loyal customer base and generates significant revenue through repeat business and referrals. The owner is retiring and looking to pass the torch to someone who can carry on the legacy of the business by taking care of its employees and customers.
Here is a breakdown of business revenue and cash flow going back 4 years:
2018 - Revenue: $1,092,717 and Cash Flow: $274,403
2019 - Revenue: $922,111 and Cash Flow: $288,680
2020 - Revenue: $1,634,825 and Cash Flow: $612,671 (great year with some state contract work)
2021 - Revenue: $1,221,154 and Cash Flow: $388,477
2022 is looking promising with approximately $400K of backlogged contracted work as of the beginning of January. Taking into account the recent revenue and cash flow trends, the value of all of the equipment, and the ability to grow this business, we believe the value is somewhere between $860K to $1+M. An SBA lender has looked at financing the business for upwards of $1mil, but the seller is motivated and has priced the business to sell, so don't let this deal pass you by!
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.