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Apr 28, 2020 — The Company provides site development and utility infrastructure installation services to commercial developers, municipalities and utility providers in a major Southeast metro area. The Company excels at solving complex logistical problems in dense urban areas needing development and infrastructure installation or repair. The Company offers customers a diverse, turnkey set of services including pipe and utility installation, erosion control, curb and gutter, grading, detention, and storm water systems. The Company self-performs most of its work and provides customers with a single source for all their infrastructure and site requirements.
A long-tenured, experienced management team leads the Company today and delivers consistent profitability. Many executives bring more than 20 years experience. The Company currently has more than $13MM of contracted backlog (2019). Historically, the Company generates $1.2-$1.5MM of EBITDA, however this year they are running above that.
The founders are at retirement age and seek the right buyer to benefit from the strong management team and consistent customers. The ideal buyer brings relevant site development and/or utility installation experience to support continued growth. Customers include utility companies, large developers, municipalities and other government agencies.
The Company operates from an attractive ±4,500 s.f. brick office building and separate equipment shop located in an industrial park. The real estate is owned by the shareholders of Seller and available.
Increasing urban population density and aging domestic utility infrastructure offer strong industry tailwinds for the Company. As the metro market the Company operates in grows, so does the need for the Company’s turnkey, urban site development services. Likewise, municipalities increasingly repair, replace, and upgrade existing water and electric infrastructure to support this growth. Typically, the Company is invited to a private, highly qualified bidders' process that includes only 2-3 local competitors. Again the work includes more complex, higher margin, specialized projects, the Company is well-positioned to capitalize on these opportunities given the company's relationship with higher-end, well capitalized commercial developers, municipalities and utility customers.
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