Slide right in, keep on growing

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30 year history, $8.4 million in sales last year, up 18.8% per year

Business Description

Earnings are growing faster than that, at a 30% per year pace. But 2018 is a slower year, a "breather" if you will. Lots of pipeline, but not as much completion activity.

This general contractor does virtually all its work in Maricopa county with a book of customers and a cadre of subcontractors performing, primarily, interior commercial projects.

A team of motivated project managers create the work, the revenue and the earnings. The owner "clips coupons" but at 70 years old, has decided to pass it along. The books are "clean" and the numbers are after an annual charge for Profit Sharing which is, technically, discretionary but that the owner does not want to show as Owner Benefit--it is one of the secrets of the business.

Net Owner Benefit (after payment of the Profit Sharing to the project managers and staff) including salary and Net earnings has averaged over $600,000 over the last four years and last year was $822,890.

Accounting is "management friendly" not "investor friendly." Income is recognized when the job is complete, not on a percentage completion basis. Earnings are choppy, but at the end of the day, it comes out the same.

Everything is set up. The Seller is ready to move on. Price is less than 2 times Net Owner Benefit (weighted average) and about 1.5 X last year's. Capital needed will have to include about $800,000 for Accounts Receivable.

About the Business

Year Established:
1987
Number of Employees:
9
Facilities:
General office space. This company does not self-perform.
Market Outlook/
Competition:
Competitive business. Primarily performing commercial, interior work. Tenant finish, etc.
Growth & Expansion:
The stage is set. Growth has been good. Ask about the 2008 and 2009 downturn? They did not experience it because they have an established book of clients and good sub contractors.
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About the Sale

Reason For Selling:
Retirement. Owner and wife are 70 years old.
Training/Support:
At least 60 days of owner support, more available upon request.

Listing Info

ID:
1527141
Ad Detail Views:
366
Asking Price:
$1,291,938

Gross Revenue:
$8,408,548
Cash Flow:
$822,890
EBITDA:
$691,501
Inventory:
 Not Disclosed

FF&E:
$30,000
included in asking price

Real Estate:
 Not Disclosed

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Business Listed by

Bob Peterson

NBB Company

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U.S. Census Data for Maricopa County, AZ
Age

Gender

Ethnicity

Source: Decennial Census (2010), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

U.S. Community Survey Data for Maricopa County, AZ
Income

Education

Source: American Community Survey (2010-2014), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.


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