This is a tremendous opportunity to partner with a highly skilled and knowledgeable industrial and commercial electrical contractor located in central South Carolina. The owner has built an extremely effective operation including a high performing team of 18 employees. He recognizes the enormous potential of the company and seeks a strategic partner to help drive growth and profitability, positioning the business for a strong future exit. The right partner will be able to assist with back-office functions, employee procurement, and growth capital. The owner is consistently turning down work and desires to be freed from day-to-day operational management to focus on growing the business. Although his preference is to focus on customer-facing efforts (sales), he would consider a more diversified role to include project management.
The business is approximately 60% industrial, 30% commercial, and 10% residential. Within these categories, the industrial work is approximately 50% installs/retrofits/upfits and 50% new build, while the commercial work is approximately 70% installs/retrofits/upfits and 30% new build. The owner is working to formalize into contract an existing multi-year staffing service of approximately $350k annual revenue. There are many other targets for this type of service, but the owner needs operational relief to pursue these opportunities.
The largest customer was 34% of revenue in 2024, but this includes the aforementioned staffing arrangement. Without the staffing, the largest customer was 24% of revenue.
The owner has an unlimited electrical license in South Carolina and is willing to get licensed in other states. This business is on the FEMA contract list, can perform high voltage work, has public utilities license, and is trained and certified to wire from the receptacle all the way to the substation.
The business is continually growing revenue, increasing gross profit margin, and increasing SDE margin, all while maintaining top tier service, reputation, and customer satisfaction. The Company is already booked for 2025 and expects increased gross profit margin due to operational efficiency. With the right partner, the growth will be exponential as the Owner could easily secure double the current revenue handling capacity.