Aug 1, 2019 — The Company is a full-service janitorial services provider specializing in janitorial services primarily for commercial and industrial customers, as well as housecleaning services for residential customers. Founded over 50 years ago, it has developed a strong reputation for its professionalism in delivering high quality service. The Company operates out of its Central Connecticut based office and primarily services the Greater Hartford County area.
The primary customer base consists of multi-unit commercial buildings, medical offices, professional offices (e.g. real estate, law, etc.), and industrial facilities that the Company provides scheduled janitorial services as well as other facility maintenance services on an as needed basis. Currently, the Company services approximately 250 locations.
The Company generated approximately $1.45 million in revenue in the fiscal year ending 12/31/18 with corresponding recast earnings of approximately $285,000. Revenue streams are highly predictable as 95% of its business is generated through contracted regularly scheduled services. Over the last three fiscal years, recast earnings have averaged approximately $260,000. The Company is currently operating at approximately a 40% gross profit margin and a 25% EBITDA margin.