With a 90% recurring client base, this growing concrete business has 4 locations, 36 concrete pumps, over 10MM in hard assets, and 57 employees in Southern California and Texas. The bulk of its contracts are municipal projects, such as K-12 Schools, Universities, Hospitals, and Government Agencies. With its specialized equipment and experienced teams, this business is able to take on projects that would be too large or too difficult for other contractors. The business’s customers are loyal, and since larger public projects and public works are rarely affected by economic changes, the business has been able to weather economic changes and continue to grow while other contractors have failed.
The company boasts over $10MM in hard assets and equipment, including 36 concrete pumps, making them one of the largest concrete companies in the nation. Moreover, the current owners have been efficient in their operations and have focused on sustainable and responsible growth. The owners approach this in two important ways: (1) they purchase all new equipment without incurring any long-term debt; and (2) the owners import their replacement parts from producers and wholesalers worldwide, which allows them to save 30-45% off what their competitors have to pay. Using these approaches, the company has over $2MM in accounts receivable and ongoing work, and typically over 90% of AR is paid within 90 days. All this while remaining DEBT FREE!
Well-trained managers and project leads are in place and the supporting administrative staff is knowledgeable and capable to handle day-to-day operations. New equipment was purchased 2016-2017, and the company recently got contracted for the border wall in Texas.
The owner is involved in daily operations as a manager and in an oversight capacity, and he is willing to stay on as president for the next couple of years if desired. Excellent opportunity for any buyer, regardless of construction experience, and Seller give you all the tools to succeed. Truly a turnkey business opportunity.
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