We are pleased to offer a terrific business that offers specialized services to contractors to clients throughout Michigan from its 8,800 square foot facility in southern Michigan. Unfortunately, one of the owners has some health issues that now require the sale of the business to only its second owner in the businesses’ 31-year history. This unfortunate set of circumstances could be your opportunity.
The business has eight full-time employees and a number of part-time employees, all non-union and all of whom are both fully trained and carry appropriate State of Michigan licenses. The company’s revenues are 75% generated from B2B contracts that include municipal buildings, industrial facilities, hospitals and the like. The remaining 25% of revenues come from the residential community though contractors. There is no client concentration.
So far for 2017 the company has been awarded a great contract that should nearly double sales, this work begins the first of the year.
The business is known as a leader in the industry using best practices in its fields. It also has an outstanding record with the State’s environmental agency.
Revenues have ranged the past several years from $850,000 to $900,000. In 2015, revenues of $904,000 resulted in Seller’s Discretionary Earnings (SDE – the normalized cash flow available for an owner-operator to pay himself and service debt) of an impressive $260,000. The business is listed for $950,000, an attractive 3.65x SDE and just over 1.0x revenues. The listing price includes nearly $100,000 of inventory and $150,000 of equipment. A meaningful seller note will be available for a qualified buyer. The real estate is owned by the sellers and can be purchased in a separate transaction or leased under favorable terms.
Obvious growth opportunities include the possibility of expanding into neighboring states, something that has not been an option due to the health issues mentioned above.
Asking Price $950,000
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